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: empanelment :: Central Excise rule to resale the machines to a new company :: form 3cd :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: articles on VAT and GST in India :: TDS :: VAT RATES :: VAT Audit :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4%
 
 
News Headlines »
 Seven things you must do before 31st March
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017
 Tax and transparencya
 No decision yet on imposing tax on cash transactions

Economy may grow 9% in 2011-12 , says Pranab
June, 09th 2011

Finance minister Pranab Mukherjee on Wednesday said that the economy would expand by at least 8.75% and may touch 9% in 2011-12 as estimated in the Budget. However, the revenue department has doubts over bettering last year's fiscal deficit figure considering contraction in demand.

Speaking at the annual conference of chief commissioners and directors general of customs and excise here, Mukherjee said the GDP growth of "8.75% with variation of 0.25% either side is surely achievable" . However, he urged senior officials to make sustained efforts for realizing revenue target.

The FM said the department must strategise its revenue realization efforts throughout the year as meeting the indirect tax target of Rs 3.93 lakh crore in the current year needed a 15% growth in collection. The FM's optimism is contrary to the projection made by the Reserve Bank of India (RBI) in its annual credit policy review last month. The central bank had said sovereign debt crisis in the eurozone and rising prices of international crude would have a downside risk on the economy, which may not expand more than 8% in 2011-12 . The finance ministry's own assessment was on similar lines after the RBI policy review.

Speaking on the occasion, Central Board of Excise and Customs chairman Sumit Dutt Majumder said the Budget estimate for indirect tax was a difficult task in the current global and domestic circumstances but the department would still achieve it. Last year, indirect tax had grown by 40% and had exceeded the revised budget estimate of Rs 3.42 lakh crore.

Expressing concern, revenue secretary Sunil Mitra who said the high base effect of last year would make it difficult for CBEC to achieve the Budget estimate target, considering the economy was poised to grow by 8.5%.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

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