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: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: cpt :: form 3cd :: VAT Audit :: Central Excise rule to resale the machines to a new company :: TDS :: ACCOUNTING STANDARDS :: empanelment :: articles on VAT and GST in India :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4%
 
 
« General »
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy
 Tax mop-up may decline in new amnesty scheme
 Weeks before Budget, Finance Minister Arun Jaitley lists out benefit of low tax rates
 Second home loan tax benefits

Govt forecasts 7% growth in mid-year review report
December, 24th 2008
The Government on Tuesday painted a sombre picture of the economy, holding out the hope of another interest rate cut while peering into the prospect of national income growth slipping below 7 per cent. Worse, the fiscal deficit is yawning, curbing the governments elbowroom to spend its way out of the slowdown. It is difficult to make a precise forecast about growth prospects for the whole year at this stage because of uncertainty, though the expectation is that it would be in the range of 7 to 8 per cent, the mid-year review of the economy that was tabled in Parliament on Tuesday stated. We have to be prepared, however, for growth to be around 7 per cent in 2008-09 as a whole. Gross domestic product (GDP) has grown by 7.8 per cent during the first six months of current fiscal year, but the review cautioned that it will be significantly slower in the second half as the impact of slower export growth and weaker domestic demand, including a possible dampening of private investment, begin to be felt. Indias industrial output in October contracted by 0.4 per cent, exports plunged by 12 per cent, while excise duty collections the tax imposed as products travel from the factory to the final retail selling point fell by 15 per cent in November, mirroring the seriousness of the slowdown. In a mini-budget of sorts, the government had announced a series of measures in the first package on December 7 that included an across-the-board cut in the central value added tax (Cenvat or the key indirect tax imposed at various stages of the manufacturing process). Chief economic advisor Arvind Virmani said fiscal deficit for 2008-09 could exceed 5 per cent due to the extra spending reflecting widening disparity between current expenditure and revenues earned by the government. The International Monetary Fund has projected that India's GDP growth is likely to slow down to 6.3 per cent in 2009, while the Reserve Bank of India has revised GDP growth forecast for 2008-09 to a range of 7.5-8.0 per cent.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Quality Assurance Services Testing and Re-testing

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