These measures, estimated to result in a revenue loss of around Rs 1,500 crore a year, are expected to give a boost to the tourism and hospitality sectors ahead of the festive season. The decisions were taken at the Council’s 37th meeting.
When asked about the impact of the measures on the fiscal deficit, Finance Minister Nirmala Sitharaman said the government is conscious of the impact and expects the economic buoyancy resulting from these changes to generate significant resources.
Net direct tax collections during April 1-September 15 grew just 5% to Rs 4.4 lakh crore — against year’s target 17.3%. This below-than-expected growth in direct tax collections will muddy the government’s fiscal math
The Mudra Yojana was launched in April 2015 to provide funding to the non-corporate small business sector through various financial institutions like banks, NBFCs and Micro Finance Institutions (MFIs).
The emerging consensus within India Inc. on the need for a government-led stimulus notwithstanding, the Centre has limited fiscal space given the lower tax collections. The Budget was a missed opportunity in terms of signalling reforms
A promise of hope, change and transformation. A promise of getting rid of deceit, terror and the power nexus. A promise to give our much beloved motherland, Kashmir, a chance of peace. Will the promises hold?
Officials said Sitharaman was required to be present in Parliament as Rajya Sabha was scheduled to take up discussion for amendments to the Insolvency and Bankruptcy Code along with the introduction of The Companies (Amendment) Bill, 2019 in Lok Sabha.