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 :: VAT RATES :: ACCOUNTING STANDARD :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: TDS :: empanelment :: due date for vat payment :: VAT Audit :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: list of goods taxed at 4%
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

Fiscal gap likely to be lower
July, 25th 2006

Higher tax collection, lower expenditure

Higher tax collection and lower expenditure are likely to bring down the fiscal deficit in 2006-07, said the Reserve Bank of India in the Macroeconomic and Monetary Developments, released on Monday.

In the report, RBI said the combined gross fiscal deficit of the Central and state governments is likely to decline by one percentage point to 6.5 per cent of GDP in 2006-07 against 7.5 per cent in 2005-06.

The combined primary deficit is likely to decline to 0.8 per cent against 1.6 per cent and revenue deficit is likely to decline to 2.2 per cent against 3.1 per cent.

The process of fiscal consolidation of the Centre and States is expected to continue in 2006-07, which would lead to a lower combined debt-GDP ratio of 78.6 per cent by March 2007, against 79.5 per cent in March 2006.

The period April-May 2006 showed tax revenue of Rs 15,087 crore against Rs 8,659 crore in the same period last year. While there was an increase in corporation tax, personal income tax and customs duties, union excise duties declined over last year, said the RBI report.

Non-tax revenue improved to Rs 4,243 crore (Rs 3,285 crore) mainly on account of returns from economic services.

Total expenditure also increased to Rs 91,918 crore (Rs 59,737 crore) due to increase in interest payments, food and fertiliser subsidies, grants to states and higher non-defence capital outlay, the report said.

During April-June 2006, the secondary market yield on the 10-year Government securities increased to 7.64 per cent from 7.01 per cent.

The Central Government took recourse to Ways and Means Advances on 36 days during 2006-07 (up to July 14) as compared with only two days during the entire fiscal year 2005-06. The average WMA utilisation during 2006-07 (up to July 14) was Rs 1,370 crore against Rs 12 crore in the corresponding period last year.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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