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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
General »
 Government likely to withdraw tax notice on free banking services
 Senior Citizens Savings Scheme Rules, 2004
 How salaried individuals can avail full potential of I-T benefits
 The Central Board of Direct Taxes unveiled new Income Tax Return forms for assessment year 2018-19 on 5 April. Although the manner of filing returns remains the same as compared to last year, certain changes have been incorporated in the new ITR forms.
 Income Tax efiling: Must-do steps to file your IT return for FY 2017-18 on time till you get Form 16
 What are the tax filing deadlines for financial year 2017-18?
 How income tax department can penalise you for under-reporting, misreporting income
 Start your tax planning right now
 Government confident of meeting fiscal deficit, tax revenue targets
 Clarification with respect to the E-way Bill System
 Here is how you can save on taxes

India capable of 10 per cent growth
July, 21st 2010

India can deliver a 10 per cent growth provided the farm output touches four per cent annually and industry and services grow in double digits, top bureaucrats said in New Delhi on Tuesday at a meeting with industry captains.

"Sustained double digit gross domestic product (GDP) growth is largely contingent on the farm sector achieving sustained four per cent GDP growth over the coming years," said Cabinet Secretary KM Chandrasekhar.

He laid emphasis on creating and meeting the rural demand to achieve sustained and inclusive growth.

"During the economic slowdown when the exports markets had shrunk, it were the rural markets that industry had turned to for sustained growth," Chandrasekhar said during a closed-door deliberation with secretaries of various ministries and top business leaders on whether India can achieve a sustainable growth rate of 10 per cent by 2014.

Echoing Chandrasekhar, Finance Secretary Ashok Chawla said that to achieve double-digit growth agriculture will have to grow at four per cent, industry at 12 per cent and services at 10.5 per cent.

"Investments should rise to 40 per cent of GDP, for which savings rate will need to increase from 35 per cent to 37-38 per cent. The remaining 2-3 per cent will come from external sources," said Chawla.

Revenue secretary Sunil Mitra pointed out that the challenge is to broaden the tax base, moderate the rates, and simplify the norms.

"The Direct Tax Code (DTC) is a major step toward simplification of tax provisions. Direct tax reforms have resulted in direct tax rising from 2.9 per cent of GDP in 2000 to 6.36 per cent in 2009," said Mitra.

According to Mitra, Goods & Services Tax (GST) once effective would will enhance the competitive edge of manufacturing and service companies and create a common market across the country.

The meeting was organised by the Confederation of Indian Industry (CII).

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About 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