sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« News Headlines »
 How to use your Form 16
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19
 Income tax returns (ITR) filing: Have you received I-T dept notice? Safeguard yourself; here is how
 Delayed release of electronic ITR forms may compel CBDT to extend the filing deadline
 Trading volume linked to tax return?
 How to e-verify your income tax return? Here are five ways to do it

FinMin may best fiscal target
November, 14th 2006
Revenue collections buoyant, but worry over expenditure remains, say experts. 
 
Finance Minister P Chidambaram may surprise the nation by announcing a lower fiscal deficit than projected in the 2006-2007 Budget. 
 
The reason for this hope is higher economic growth and the consequent buoyancy in revenue collections in the recent months. 
 
Chidambaram recently said the target of keeping fiscal and revenue deficits at 3.8 per cent and 2.1 per cent of the GDP, respectively, would be met. Given the buoyancy in tax collections, I reiterate that the targets will be adhered to, he said. 
 
However, there is a feeling that the deficit may be even lower than targeted. Rajiv Kumar, director and chief executive officer, ICRIER, said the fiscal deficit might go down to 3.6 per cent. 
 
DK Pant of Fitch Ratings said the fiscal deficit could be lower than the budgeted 3.8 per cent. It may be higher in value, though, he says. 
 
Pronab Sen, principal adviser, Planning Commission, said this might happen but it was difficult to predict. 
 
Revenue collections are way ahead of targets but so is expenditure. Significantly, there has been an increase in non-Plan expenditure. It is not clear why. Plan expenditure is within targets, though. 
 
The worry over ballooning expenditure, however, continues. A major mystery is that excise collections have not gone up by 20 per cent in line with the growth in manufacturing and industry. We should not get carried away when revenues are buoyant and lose sight of the fact that greater attention needs to be paid to expenditure control. I would watch out for the revenue deficit, Kumar said. 
 
Pant said while growth in tax revenues, including Customs, corporation tax, personal income tax and service tax had been buoyant, The only cause for worry is excise collections, which have grown at 6 per cent in the first half of 2006-7, much less than projected. 
 
He said high economic growth would offset the expenditure during the first half of the current year. However, chances are that expenditure could be higher than the Budget estimates, he said.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions