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: ACCOUNTING STANDARD :: empanelment :: list of goods taxed at 4% :: cpt :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: form 3cd :: articles on VAT and GST in India :: VAT RATES :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company
« Budget Extravaganza »
 Why advancing the Union Budget date may not make much difference
 Govt keen 2017-18 budget should not clash with polls: Arun Jaitley
 Finance Ministry seeks industry suggestions on taxation for Budget
 Budget should focus on fiscal firm up
 Finance ministry keen to present Budget on February 2 or earlier
 Poor railway performance may mar merged Budget
 Cabinet’s formal nod to be sought for Budget on Feb. 1
 Finance Ministry may talk to EC before finalising Budget date
 Govt starts biggest ever overhaul of Budget
 How does an early budget impact you
 Welcome steps to overhaul the Budget

Pranab Mukherjee expects the economy to grow at 8% in current
December, 24th 2009

The Finance Minister, Mr. Pranab Mukherjee has informed that the economy is expected to rise by 7.5 to 8 percent during the current financial year, while he expressed concern on the rising food prices in the country.

The Finance Minister presented a review in the parliament in the last week, which stated that economic growth rate during this year is expected to go beyond the 7.75 percent mark as compared to the 6.7 percent registered in the 2008-09 period.

Before the global recession started, Indian economy was growing at 9 percent, which decreased to 6.7 percent during 2008-09.

Pointing at the short term and medium term challenges for the economy, Mr. Mukherjee said that government has to deal with the price rise and increasing fiscal deficit in order to meet the dreamed growth of 9 -10 percent.

According to the recent data, food inflation up surged by 20 percent which is highest in the last ten years, while the fiscal deficit jumped to 6.8 per cent in the current fiscal, which is more as compared to what was prescribed in the Fiscal Responsibility and Budget Management (FRBM) Act.

Due to the drought resulting from the insufficient rain and the floods in the southern parts of the country, agriculture and related sector growth rate, decelerated to 0.9 percent from 2.7 percent in the corresponding period of the last year.

Speaking about the Direct Tax Code, Mr. Mukherjee informed that the Finance Ministry would consider inputs from various agencies, including industry chambers for the nine areas of the concerns, before finalizing the code which will replace the Income Tax Act, 1961.

The government has proposed to introduce the Goods and Services Tax from April 1, 2010. The GST will subsume various indirect taxes like excise, service tax and other levies imposed by the states.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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