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On like-to-like basis, Q3 profit stands at Rs 3,694 crore compared to Rs 2,908 crore in the previous year, reflecting a growth of 27 per cent, says HDFC Ltd. Net interest income for the quarter ended December 31, 2020, grew 26 percent at Rs 4,068 crore

Whilst the government's proposals are moving in the right direction, further intervention is the need of the hour to aid significant sectoral growth

With a fiscal deficit of 9.5% of GDP, there was limited scope for any significant tax concessions in Budget 2021

At the core of the Budget is the nominal GDP growth of 14.4 per cent which looks plausible with 10 per cent real GDP growth, India Ratings Chief Economist Devendra Pant and Principal Economist Sunil Kumar Sinha said in a note

India Stock Market News Updates Today: Earlier today, Sensex rose above the psychological key level of 50,000 and Nifty neared 14,700

Tax buoyancy, which describes the sensitiveness of tax revenue growth to changes in nominal GDP, is expected to touch 1.2 in FY22, marginally lower than 1.3 in FY21 (both tax revenues and GDP are projected to decline)

The government has estimated a total gross tax collection of Rs  22.17 lakh crore in 2021-22, which is lower than last year's Budget estimates of Rs 24.23 lakh crore

Union Budget 2021-22 news: The government has imposed a steep agriculture infrastructure and development cess (AIDC) of Rs 2.5 per litre on petrol and Rs 4 per litre on diesel but has cushioned it with a commensurate reduction in excise duty on the two fuels to not burden consumers

Budget 2021: The fiscal deficit of 9.5 per cent in 2020-21 and 6.8 per cent of GDP in 2021-22 crosses the level of global financial crisis. In fact, the numbers are much above the market expectations

Union budget 2021: The shortfall is largely on account of a shortfall of Rs 2.34 lakh crore in corporate taxes

Union Budget 2021 Highlights: Congress leader P. Chidambaram said that the government had only marginally raised health funding, which when adjusted to inflation becomes nil

Budget 2021: FADA has asked the government to allow taxpayers to gain benefits from claiming depreciation on vehicles, which is likely to encourage individuals in filing IT returns and promote growth in GST collection

Budget 2021: The task is cut out to spur the economy by reviving demand and enhancing consumer spending

Fiscal deficit is languishing at Rs 10,75,507 crore or 135.1 per cent of the budget estimate 2021, as of November 2020. It has largely soared on account of low realisation of revenues because of the COVID-19 pandemic

Based on the current trends in the GDP, the fiscal deficit, difference between the government's total revenue and total expenditure, is expected to be around 7.5 per cent of the GDP for the current fiscal owing to moderation in revenue collection due to the COVID-19 crisis

The taxpayer, including individuals and businesses, is expecting government to not impose any new or additional tax, or cess for businesses in the upcoming Budget as the pandemic has already adversely affected all businesses, whether it is big or small

Of the total GST collection, CGST is Rs 21,923 crore, SGST is Rs 29,014 crore, IGST is Rs 60,288 crore (including Rs 27,424 crore collected on import of goods) and Cess is Rs 8,622 crore

The inclusion of a statement on policy announcements on GST in the budget, of an intent to resolve these tax issues, will not only have a positive impact on the broader economy but also reaffirm confidence in the cooperative federalism model for tax policy

For the quarter under review, its core net interest income grew by 11 percent to Rs 3,406 crore on the back of loan book being stable and a 0.03 percent narrowing of the net interest margin (NIM) to 4.12 percent