Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: due date for vat payment :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: cpt :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: empanelment :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: TDS
« News Headlines »
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016
 Announcement - Clarifications in Respect of MEF 2016-17
 Non-taxing GST apps to make filing income tax return less painful

Widen tax base, cut deficit to maintain GDP growth
November, 08th 2006

Buoyed by improved tax collections in recent years, RBI Deputy Governor Rakesh Mohan on Tuesday prescribed widening the tax base, curtailing exemptions and larger deficit reductions to maintain the growth momentum.

"Larger deficit reductions will be required in next two years to meet FRBM targets, which is critical for financial, macro-economic, external and budgetary sustainability," he said at the Indian Securities Infrastructure and Operations Forum 2006 here.

"It is essential to eliminate revenue deficit and generate sufficient revenue surplus, which may be utilised for asset creation without creating liabilities," he said, warning any deviation from FRBM targets would have domestic and global repercussions in terms of credibility.

Mohan said the scope for deepening fiscal empowerment lied in improving tax revenue, and added that the reversal of the declining trend in gross tax-GDP ratio was welcome.

The increasing trend in gross tax-GDP ratio of the Centre "needs to be maintained through further widening of the tax base and curtailment in tax exemptions. Large deficit reductions in 2007-08 and 2008-09 will be required to meet the FRBM targets," he said.

Mohan said states should augment non-tax revenues through appropriate user charges and restructuring of public sector undertakings.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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