Page 9 - Latest Updates on Budget estimates
Corporate tax this fiscal likely to exceed Budget Estimates by 19%
Direct, indirect tax revenues have been a bright spot for Centre in FY22
 "Corporate tax this fiscal likely to exceed Budget Estimates by 19%")
Union Budget 2022-23: Phasing out of some tax exemptions likely
FinMin also exploring the option of rationalising capital gains tax rates
 "Union Budget 2022-23: Phasing out of some tax exemptions likely")
Divestment delayed, but petchem plans on the track: Bharat Petroleum
The government's plan is to sell its entire 52.98 per cent stake in BPCL with the transfer of management control to a strategic buyer
 "Divestment delayed, but petchem plans on the track: Bharat Petroleum")
Budget wishlist: Here are the key challenges in agriculture sector
Government needs to play a proactive role in enabling a business-as-a-service (BaaS) platform to promote innovation
 "Budget wishlist: Here are the key challenges in agriculture sector")
Budget could push for private investments in public infrastructure
Budget could also announce favourable terms for companies accessing bond markets
 "Budget could push for private investments in public infrastructure")
Budget 2022-23: Govt likely to target 13-14% nominal growth in FY23
A faster growth projection may cause inflation concerns, say officials
 "Budget 2022-23: Govt likely to target 13-14% nominal growth in FY23")
Budget 2022-23: FY23 capital expenditure target may top Rs 6.5 trillion
During pre-Budget consultations, industry bodies and economists have advised the finance minister to keep the spending tap open
 "Budget 2022-23: FY23 capital expenditure target may top Rs 6.5 trillion")
FY23 Budget wishlist: ACMA seeks uniform 18% GST for all auto components
Auto components industry body ACMA on Tuesday said it has urged the government for a uniform GST rate of 18 per cent on all auto parts to curb the impact of counterfeits in the aftermarket operations.
 "FY23 Budget wishlist: ACMA seeks uniform 18% GST for all auto components")
Gross fixed capital formation: Advance estimates hopeful, say analysts
Most of capex brunt being borne by Centre, say analysts
 "Gross fixed capital formation: Advance estimates hopeful, say analysts")
Fiscal deficit likely to stay at budget estimate of 6.8% of GDP in 2021-22
Tax revenues may not narrow deficit; food, fertiliser subsidies to overshoot BE
 "Fiscal deficit likely to stay at budget estimate of 6.8% of GDP in 2021-22")
Direct tax mop-up crosses half of Budget Estimates at halfway point
Collection 28% higher over the same period in 2019-20, brightening economic recovery prospects
 "Direct tax mop-up crosses half of Budget Estimates at halfway point")
Apr-Jul fiscal deficit narrows to 9-year low, reaches 21.3% of FY22 target
Non-tax revenues such as dividends from RBI and public sector banks yielded Rs 1.39 trillion
 "Apr-Jul fiscal deficit narrows to 9-year low, reaches 21.3% of FY22 target")
Do not politicise GST Council: Finance Minister Nirmala Sitharaman
The government is conscious of the intensity of the second wave of Covid-19 and is assessing its full impact before coming out with further packages and interventions, says FM Sitharaman
 "Do not politicise GST Council: Finance Minister Nirmala Sitharaman")
Divergence in revenue estimates due to early Budget or lack of discipline?
Provisional actuals of the Budget for 2020-21 have once again varied sharply from the revised estimates. The variation provides fiscal cushion, but also raises several questions
 "Divergence in revenue estimates due to early Budget or lack of discipline?")
Direct tax mop-up betters estimate for the first time in four years
With the payments of the last instalment on Monday, advance tax collection for FY21 was around 7 per cent higher than last year's
 "Direct tax mop-up betters estimate for the first time in four years")
Road to recovery
Hopeful signs in data, but medium-term outlook uncertain
 "Road to recovery")
Fiscal deficit hits Rs 12.34 trillion at end of January, shows data
The fiscal deficit at the end of January in the previous financial year was 128.5 per cent of the Revised Estimates (RE)
 "Fiscal deficit hits Rs 12.34 trillion at end of January, shows data")
No cut in excise duty on petrol, diesel: FM Nirmala Sitharaman
Sitharaman ignored calls for a reduction in excise duty rates to help bring down prices from historic high levels.
 "No cut in excise duty on petrol, diesel: FM Nirmala Sitharaman")
Env ministry's outlay falls; vehicle scrapping policy to fight pollution
The Centre on Monday earmarked a separate Rs 2,217 crore for 42 urban centres to tackle air pollution
 "Env ministry's outlay falls; vehicle scrapping policy to fight pollution")
Government slashes fiscal 2021-22 sports budget by Rs 230 crore
In the Union budget presented in Parliament on Monday, the Central government allocated Rs.2,596.14 crore to sports
 "Government slashes fiscal 2021-22 sports budget by Rs 230 crore")