Latest Expert Exchange Queries

Make 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) | 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: TDS :: VAT RATES :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ACCOUNTING STANDARD
 
 
Budget Extravaganza »
 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
 Budget today, but GST kills the tax suspense
 Budget 2017 does little to expand taxpayer base, salaried still bear brunt of taxes

India's economy to expand by 8.5% in FY'11: PM
May, 24th 2010

Prime minister Manmohan Singh today said the economy is expected to grow by 8.5% this fiscal and the country was capable of achieving 10% expansion in the medium term.

The forecast comes on top of an estimated 7.2% growth in 2009-10, the year that saw India weather the effects of the global economic crisis.

"We need a rapidly growing economy to generate productive employment and also resources to finance our ambitious social
and economic agenda," Singh said at a national press conference here to mark completion of one year of UPA-II in
office.

Growth had slipped to 6.5% in 2008-09 at the height of the economic crisis triggered by collapse of financial institutions in the West.

"Our medium term target is to achieve a growth rate of 10% per annum. I am convinced that given our savings and investment rates, this is an achievable target," Singh, regarded as the architect of India's financial reforms, said.

India's savings and investment rate is nearly 35% of GDP, next only to China's 49%.

"However, its (high growth) achievement will require determined efforts to increase investment in social and economic infrastructure, enhance productivity in agriculture and give a fresh impetus to the manufacturing sector," the prime minister said.

"Our annual rate had averaged 9% for four years before the crisis. It reduced to 6.5% in 2008-09, but recovered to 7.2% in 2009-10. We expect 8.5% growth in this financial year," he said, noting that the first concern in the wake of the financial crisis was to protect the economy from the global slowdown.

This had prompted the government to deviate from fiscal prudence by way of stimulus measures (involving high borrowings to step up public spending and foregoing of revenue to boost manufacturing), leading to fiscal deficit shooting to over 6% of GDP - a broad measure of a country's economic wealth.

In the Budget for 2010-11, the government partially withdrew the stimulus, saying economic recovery was strong.

"The record of our first year is a record of reasonable achievement," Singh said.

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

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