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 STANDARDS :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: articles on VAT and GST in India :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: VAT RATES :: VAT Audit :: due date for vat payment :: empanelment :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« Budget Extravaganza »
 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
 Cabinet’s formal nod to be sought for Budget on Feb. 1

Budget 2012: Pranab Mukherjee 'losing sleep' over rising subsidy burden
February, 09th 2012

Pranab Mukherjee has said he is losing sleep over the government's ballooning subsidy bill, a rare expression of candour on a sensitive economic subject from an otherwise restrained finance minister triggering talk the upcoming budget could be harsh on subsidies.

"As the finance minister when I think of enormity of the subsidies to be provided, I lose my sleep. There is no doubt," Mukherjee said on Wednesday in his address to a conference on Public Distribution System and Storage.

The underlying message in his comment was clear. "He is becoming more candid and is kind of preparing the ground that nothing dramatic (in the form of giveaways) should be expected from the budget," said Sunil Sinha, senior economist with CRISIL.

It was Mukherjee's second broad hint in recent weeks that the budget for 2012-13 on March 16 will be less about tax giveaways and more about fiscal consolidation, an area considered as a major blemish on his ministry's performance and about which it has been facing much criticism.

On Monday, Mukherjee told a gathering in Kolkata that industry needs to brace for higher taxes, which has been interpreted to mean that the government could roll back remnants of the 2008-09 fiscal stimulus by raising excise duty and service taxes.


The government is in a tight fiscal spot, with subsidies overshooting target, tax collections undershooting it and with little to show from other revenue sources.

In the winter session of Parliament that ended in December, Mukherjee had said he expected the subsidy bill, pegged at 1.4 lakh crore in the budget, to overshoot the target by 1 lakh crore.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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