Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: cpt :: form 3cd :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: due date for vat payment :: ACCOUNTING STANDARDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: VAT RATES
 
 
Budget Extravaganza »
 Seeks to amend certain customs notifications in pursuance to change made in Budget 2017-18.
 New look finance ministry team to frame contours of Budget 2018
 How presenting the Budget early seems to be paying off already
 Budget advancement helps Centre, states start spending early
 Five things that you can expect from the Mumbai civic budget today
 GST all set for July 1 rollout but casts shadow on state budgets
 Income-Tax collection revised in Rajasthan budget
 No new taxes likely in Maharashtra Budget
 H.P. budget devoid of any financial prudence
 GST, demonetisation todecide budget priorities
 Railways to come up with mini-budget tomorrow

Government raises social spending: Budget 2011-12
February, 28th 2011

Finance Minister Pranab Mukherjee announced on Monday a food security bill for 2011/12, a budget measure that would provide cheap grains for millions of India's poor but which has sparked worries over its huge cost.

It was part of a slew of increased social spending in the annual budget as Prime Minister Manmohan Singh confronts high prices and corruption scandals as well as elections in five states this year.

Mukherjee said social spending would rise by 17 percent in 2011-12. That includes health spending, which would rise 20 percent in the fiscal year starting April 1.

But the government hopes bouyant tax revenues from near-nine percent economic growth will keep fiscal deficit falling to 5.1 percent of GDP this fiscal year and to 4.6 percent of GDP in 2011/12 - figures widely seen as too optimistic.

"Both the borrowing and fiscal deficit numbers have been worked out taking into account the most optimistic macro-economic scenarios, which in all likelihood is not going to be the real situation." said Rupa Rege Nitsure, chief economist at Bank of Baroda in Mumbai.

There were few of the reforms, like allowing foreign investment in the modern supermarket sector, that many investors had hoped to improve productivity and help India compete with the likes of China.

"At times the biggest reforms are not the ones that make headlines, but the ones concerned with details of governance which affect the everyday life of the common man," Mukherjee told parliament

"In preparing this year's budget, I have been deeply conscious of this fact."

India's most-traded 8.13 percent, 2022 bond yield rose 2 basis points to 8.11 percent on news of increased social spending before falling to as much as 8.05 percent after the fiscal deficit target and net borrowing amount of next year was announced.

FOCUS ON FARM SECTOR

Pranab also announced incentives for private investment in infrastructure as well as moves to help agricultural productivity to sustain economic growth and lower inflation.

The minister raised the foreign investment limit in corporate infrastucture bonds by $20 billion. Mukherjee also said infrastructure debt funds would be created.

In a pilot move, the minister said some subsidies for food and fuel would be directly given as cash to customers starting in March, a move aimed at making the subsidies system more efficient with less waste.

The government is expected to count on a robust economy to expand revenue in the absence of big one-time gains that it enjoyed in the current year from the sale of 3G telecom licences. Mukherjee said he expected the economy to grow 9 percent in 2011/2012 and for inflation to ease.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software 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