Page 24 - Revised Estimates News Today

Impact of COVID-19 second wave on economy to remain muted: Finmin report The fiscal position of the central government, it said, has witnessed an improvement in the recent months with a revival in the economic activities during the second half of FY2020-21. Share Via Email   |  A+A A- By PTI NEW DELHI: The impact of the second wave of the coronavirus pandemic on the economy is likely to remain muted as compared to the first wave, the finance ministry said in its monthly economic report...

Explained: How Covid-19 crisis has exposed Indias growing wealth gap Explained: How Covid-19 crisis has exposed Indias growing wealth gap The second wave of the Covid-19 pandemic has revealed a stark gap in wealth inequality between Indias rich and poor. While the deadly coronavirus has spared none, its impact on the poorer population has been way more devastating. advertisement UPDATED: April 28, 2021 18:11 IST Poorer families are suffuring more during the second Covid-19 wave of the pandemic ...

Minister McGrath to review National Lottery good causes funding distribution model   The Minister for Public Expenditure and Reform, Michael McGrath T.D. today, 28th April 2021, has announced plans to review the transparency and effectiveness of how National Lottery Good Causes funding is distributed. Close to 30c of every €1 spent on National Lottery games is returned to the Exchequer to fund Good Cause projects throughout Ireland. Almost €6bn has been raised since the Nat...

Sinn Féin spokesperson on Agriculture, Matt Carthy TD, has described as ‘deeply concerning’ what he described as the Government’s ‘unambitious and disinterested approach to the development of organic farming’ in Ireland.   He called on Minister Charlie McConalogue to engage with all stakeholders to carry out a comprehensive strategic overview of organic farming policy. Under 2% of all agricultural land in Ireland is under organic production, compared to an EU average of 8.5% as of 2...

Government borrowing surpassed Revised Estimates (RE) by about 1 per cent in 2020-21. The government had initially pegged the borrowing at Rs 7.8 trillion, but raised it to Rs 12 trillion as Covid-19 forced a nationwide lockdown and the government doled out a relief package. However, the borrowings were further raised to Rs 12.80 trillion in RE as the government also tried to bring transparency in subsidies. The borrowings exceeded RE despite both indirect and direct tax collections surpassing ...

Read more about Net Indirect Tax collections Spurt 12.3% In FY21 on Business Standard. The provisional figures for indirect tax collections (GST & non-GST) for the Financial Year 2020-21 show that net revenue collections are at Rs 10.71 lakh crore as compared to 9.54 lakh Crore for the Financial Year 2019-20, thereby registering a

Synopsis Net goods and service tax collections for Centre – which includes central GST, integrated GST and compensation cess - during FY21 is Rs 5.48 lakh crore, 8% lower than Rs 5.99 lakh crore in FY20. Agencies Net tax collections on account of central excise and service tax (arrears) during FY21 stood at Rs 3.91 lakh crore as compared to Rs 2.45 lakh crore in FY20, a growth of more than 59%. The government has netted Rs 10.71 lakh crore as collections from indirect tax – including GST an...

Indirect tax revenue up 12 per cent at Rs 10.71 lakh crore in FY21, exceeds Revised Estimates The mop-up through indirect taxes, which include GST, Customs and excise duties, was Rs 9.54 lakh crore in 2019-20. Share Via Email   |  A+A A- By PTI NEW DELHI: The net indirect tax collections in 2020-21 grew 12.3 per cent to Rs 10.71 lakh crore as compared to the previous fiscal year, thereby exceeding the target set in revised estimates, the finance ministry said on Tuesday. The mop-up thro...

The provisional figures released by the Ministry of Finance on Tuesday, further indicated that the net indirect tax collection for FY21 showed that 108% of the Revised Estimates (RE) of indirect taxes for that fiscal have been achieved.

Good news is flowing for the government on the tax front with net indirect tax collections (GST & non-GST) registering a 12.3 per cent increase in FY21 largely on account of increased excise collections from petroleum products and improved ...