Less scope of personal tax cut as tax collections fall short : Bulletin: Business Today
Business Today
Loading...
 

Less scope of personal tax cut as tax collections fall short

Loading the player...

January 27, 2020

Budget 2020: Scope of personal tax cut grows slim as govt stares at tax shortfall of Rs 2 lakh crore
Tax collections in the current fiscal may fall short of targets by as much as Rs 2 lakh crore on faltering economy, leaving  very little room for Finance Minister Nirmala Sitharaman for offering any meaningful reduction in personal income tax rates. Sources with direct knowledge of the development said income and corporate tax collections are likely to miss FY2020 targets by as much as Rs 1.5 lakh crore while indirect taxes may fall short by about Rs 50,000 crore on drop in the Goods and Services Tax (GST) in a sluggish economy.

Air India doubles flights on Tel Aviv-New Delhi route to tackle increase in passenger rush
In view of the increase in passenger traffic on the Tel Aviv-New Delhi sector, India's official carrier Air India will double the number of flights on the route to six per week from April. Air India started with 3 flights a week and within a span of two years has gradually increased it to six, starting from April 1 this year.

India needs a better opposition: Abhijit Banerjee
India needs a better opposition which is the heart of any democracy and the ruling party should embrace that to keep it under check, noted economist and Nobel laureate Abhijit Banerjee has said. Speaking at a session at the Jaipur Literature Festival (JLF), the 58-year-old India-born American economist said there was no co-relation between the authoritarianism and the economic success.

FPIs pump in Rs 1,624 crore in Indian markets in January
Foreign portfolio investors (FPI) have infused a net sum of Rs 1,624 crore into the Indian capital markets in January so far, buoyed by the signing of the first phase of the US-China trade deal. As per latest depositories data, FPIs invested a net Rs 13,304 crore in equities and withdrew a net Rs 11,680 crore from the debt segment between January 1-24. This translates into a total net inflow of Rs 1,624 crore.

Republic Day 2020: India Brazil to have a bilateral trade of $15 billion by 2022
Hit by economic slowdown, India and Brazil on Saturday drew up an ambitious plan to boost their stuttering economies by significantly expanding cooperation in key sectors like oil, gas and mining, while setting a target of USD 15 billion in bilateral trade by 2022. The decisions were taken during wide-ranging talks between Prime Minister Narendra Modi and Brazilian President Jair Messias Bolsonaro.

'Monetary policy has limits; structural reforms, fiscal measures required,' says Shaktikanta Das
Reserve Bank of India Governor Shaktikanta Das said on Friday that monetary policy has its limitations and called for structural reforms and fiscal measures to boost growth. "Monetary policy has its own limits. Structural reforms and fiscal measures may have to be continued and further activated to provide a durable push to demand and boost growth," Das said at an event at his alma mater St Stephen's College in Delhi. The governor identified few avenues including food processing industries, tourism, e-commerce, and start-ups that could push growth at the event held.
More from this section