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: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: VAT RATES :: form 3cd :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: VAT Audit :: ACCOUNTING STANDARD
Budget Extravaganza »
 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
 Budget today, but GST kills the tax suspense
 Budget 2017 does little to expand taxpayer base, salaried still bear brunt of taxes
 Six things Finance Minister did not tell you in Budget 2017

India budget moves credit positive
March, 02nd 2010

India's federal budget represents a strong intention to renew fiscal discipline, which coupled with a fuel price increase announced on the same day are positive for its sovereign rating, Moody's Investor's Service said on Tuesday. Finance Minister Pranab Mukherjee on Friday trimmed some of last year's heavy economic stimulus and said the government plans to cut the fiscal deficit to 5.5 percent of the GDP from 6.9 percent this year.

Moody's rates India's local currency sovereign rating as Ba2 and assigned a positive outlook in December 2009. "Alongside a rebounding economy, a well-calibrated exit strategy from its stimulus measures if complemented by medium-term fiscal consolidation ... will facilitate a reasonably rapid rate of debt reduction to 70 percent of GDP in 2-3 years, down from the current 78 percent," said Aninda Mitra, vice-president- senior analyst at Moody's.

The petroleum ministry raised gasoline prices by 6 percent and diesel prices by 7.75 percent on Friday after the finance minister increased factory-gate taxes and import duties on the fuels in the budget on Friday. Moody's expects the combined fiscal deficits for the central government and states to narrow to 8 percent of GDP from 10 percent in the current fiscal year, he added in the note.

Even though the government's fiscal consolidation efforts could run into headwinds from political opposition or external shocks, the programme stands a strong chance of remaining on track, Mitra said. "...forthcoming adjustments to fuel price subsidies or a rationalization of the underlying subsidy mechanism itself would also be credit positive," he added.

Receipts from the expected auction of 3G licenses and acceleration of divestments combined with the implementation of goods and services tax in April 2011 will also support overall fiscal consolidation, according to the note.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

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