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: empanelment :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: due date for vat payment :: form 3cd :: Central Excise rule to resale the machines to a new company :: cpt :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: VAT Audit :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4%
 
 
Budget Extravaganza »
 Government should reinstate wealth tax in Budget 2017
 With demonetisation inducing tax compliance will PM Modi cut tax rates in Budget 2017?
 State plan budget utilisation in Odisha
 Maharashtra wants budget advanced to February
 Coastal economic zones may get 10-year tax exemption in next Budget
 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

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