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: VAT RATES :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ACCOUNTING STANDARD :: TDS :: due date for vat payment :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: form 3cd :: cpt :: ACCOUNTING STANDARDS
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

Budget should focus on farm sector: FM
February, 03rd 2007

Finance minister P Chidambaram said on Friday that targets set in the FRBM Act for 2006-07 will be met. The overall revenue and expenditure progress achieved till now shows that fiscal deficit would be lower than the budget estimate, he indicated while chairing a meeting of the Parliamentary consultative committee attached to the finance ministry. FRBM targets envisage elimination of revenue deficit and reduction of fiscal deficit to 3% of GDP by 2008-09.

The meeting was convened to consider suggestions for the 2007 budget. According to a press statement issued by the ministry, most members of the committee emphasised the need for a greater thrust on the agricultural sector. The committee called for greater investment, lower interest rates and a reduction of taxes to make inputs cheaper for the agricultural sector.

The committee was of the view that some sort of cieling for the fringe benefit tax (FBT) be introduced. Other suggestions include abolition of central sales tax (CST), revenue implications of SEZs, reduction of customs and excise duties, continuation of subsidies, development of self-help groups and greater efficiency in the tax structure, the statement said. Mps who attended the meeting include Jivabhai A Patel, Prahlad Joshi, Narsingrao H Suryawanshi, Gireesh Kumar Sanghi and M Ramadass among others.

The need for introducting schemes to unearth black money was emphasised. Creation of a corpus fund for farmers and restructuring of petro-prices were other issues that were brought up.

The minister allayed fears about the rising inflation rate by saying that the high inflation was an outcome of high growth rates. Net tax revenue receipts as a proportion of budget estimates have improved from 47.6% during April-November 2005-06 to 54.1% in April-November 2006-07, the minister said. The minister also emphasised that while interest burden as a proportion of GDP is decreasing, education loans have increased by three times as on end September 2006 over the previous year. 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and 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