1 / 2

Tax kitty to exceed Budget estimate in 2016-17, says Arun Jaitley

Tax kitty to exceed Budget estimate in 2016-17, says Arun Jaitley on Business Standard. Stands by decision to advance Budget date; many states seek loosening of fiscal deficit rule

renitasaint
Download Presentation

Tax kitty to exceed Budget estimate in 2016-17, says Arun Jaitley

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Tax kitty to exceed Budget estimate in 2016-17, says Arun Jaitley Stands by decision to advance Budget date; many states seek loosening of fiscal deficit rule While some states have complained of declining tax revenues due to demonetisation, the Centre is hopeful of exceeding itsBudget 2017Estimates (BE) for 2016-17 in both direct and indirect tax collections. It has reiterated the decision to advance the Budget presentation date to February 1, despite objections.

  2. “We will end this year with higher revenues for both direct and indirect taxes compared to the estimates,” said Finance MinisterArun Jaitleyafter the Goods and Services Tax Council meeting and pre-Budget consultation with state counterparts. The states raised concern over declining revenues and sought relaxation in the Fiscal Responsibility and Budget Management (FRBM) limit, beside central support to revive labour- intensive industries. To a query, Jaitley said the Reserve Bank (RBI) would remove the current restrictions on cash withdrawal after assessing the situation. He ruled out a change in the conditions barring anyone other than non-resident Indians (NRIs) and those returning from abroad from depositing the junked notes in select central bank branches. “Actions are taken in phases and so are relaxations,” he said on when the cash withdrawal restrictions could be ended. Read Full Story >>> Be Updated on Stock Market News & LATEST NEWS| BUSINESS STANDARD

More Related