Search Results for: Indirect Taxes

people-expect-cheaper-food-tax-reforms-from-annual-budget

People expect cheaper food, tax reforms from annual budget

Panaji/Dharamsala, Feb 28 (ANI): Indian citizens hope food and healthcare will be cheaper and tax reforms will be made in the annual budget 2015-16 to be released on Saturday. Finance Minister Arun Jaitley will present his first full-year budget, seeking to put Asia's third-largest economy on a path of 7-8 percent growth over the next two years. The 2015-16 budget is billed as a "make-or-break" event for Prime Minister Narendra Modi's eight-month-old government. The 2015/16 budget is expected to give a big push to Modi's 'Make in India' campaign, with tax breaks and other incentives for several sectors. Jaitley has promised to implement a nationwide Goods and Services Tax (GST) from April 1, 2016. He introduced a bill in Parliament in December to rationalise state and central indirect taxes into a harmonised sales tax. Meanwhile in Goa, many wished that the state had something more to offer than beaches and casinos. Feb 27, 2015
hong-kong-to-fund-homegrown-fashion

Hong Kong to fund homegrown fashion

Another year, another massive fiscal surplus in Hong Kong. The city has decided it's going to cut taxes and spread the wealth, dishing out over four billion bucks in sweeteners to support local Feb 26, 2015
central-government-gives-higher-share-to-states-in-central-taxes

Central government gives higher share to states in central taxes

New Delhi, Feb 25 (ANI): Finance Minister Arun Jaitley has stated that the recommendations by the 14th Finance Commission were accepted and raised the share of states in central taxes from 32 percent to 42 percent. This is the single largest increase ever recommended giving more power to states in determining how they spend this money. Jaitley said that each recommendation would be implemented for five years. He also urged states to be self sufficient and stop looking at the central government. Jaitley said it was a part of Prime Minister Narendra Modi’s idea of giving greater autonomy to states in financing and designing the schemes. Feb 25, 2015

Textile industry expects tax cuts in upcoming budget

Surat, Feb 11 (ANI): Manufacturers in textile industry in Gujarat expect tax cuts from the Central government in upcoming budget to help the industry come out of crisis. Union Finance Minister Arun Jaitley will on February 28 present his first full-year budget, seeking to put Asia's third-largest economy on a path of 7-8 percent growth over the next two years. In Surat, industrialists said they were facing crisis due to rise in prices of raw materials like yarn and colour chemicals. A favourable budget will being relief for one-and-a-half million people associated with the industry, he added. Vakharia also hoped for relaxation in prices of acquiring land. Investors and manufacturers have long advocated the GST as a way to simplify taxes while broadening the tax base, adding as much as 2 percentage points to economic growth in India. Feb 11, 2015
methodology-change-sees-indian-economy-grow-faster-than-chinas

Methodology change sees Indian economy grow faster than China's

New Delhi, Feb 10 (ANI): India forecasted that annual economic growth would accelerate to 7.4 percent in the year ending in March after its statisticians changed the way they measure Asia's third-largest economy and showed it clocked faster growth than China in the December quarter. The statistical recovery is in large measure due to changes both in the way authorities calculate gross domestic product (GDP) and the base year. The new estimate is sharply higher than the Reserve Bank of India's (RBI) growth projection of around 5.5 percent for the year under the old method. It marks a dramatic turnaround for an economy that a fortnight ago was assumed to be struggling to gain momentum under Prime Minister Narendra Modi's reform-minded government. India now measures GDP by market prices instead of factor costs, to take into account gross value addition in goods and services as well as indirect taxes. The base year has been shifted to 2011/12 from 2004/05 earlier. Feb 10, 2015
Prev 138 139 140 141 142 143 144 145 146 147 Next