‘Record GST collection due to…’: Tarun Bajaj on revenue, economic growth
The all-time high record collection of Goods and Service Tax (GST) is due to economic recovery and increased compliance with the use of technology, said Tarun Bajaj, Secretary, Revenue and Department of Economic Affairs.
GST collection in March this year stood at a record high of Rs 1,23,902 crore.
He said that economy is recovering better than our anticipation.
This is because of the steps taken by the finance ministry.
"We believe that in the current financial year 2021- 22, we will see good growth," he added.
"World Bank has said that our growth rate will be between 7.5 per cent - 12 per cent.
Not just rating agencies, IMF said that our growth rate will be between 11 per cent to 11.5 per cent, it also has to do with low base effect, hence economy will grow.
We expect a better growth rate this year," said Bajaj.
In a post on X, Jairam said, "More than 40% of the wealth created in the country from 2012 to 2021 has gone to just 1 per cent of the population. About 64% of.. IndiaTimes
Krishnamurthy V Subramaniam, the Executive Director of the International Monetary Fund (IMF), said on Tuesday that India will continue to be a driver for global.. IndiaTimes
IMF Warns of Broad Global Impact, Due to Conflict in the Middle East.
According to 'The Guardian,' the International Monetary
Fund recently highlighted the risks of escalating
conflict in the Middle East with two new reports. .
The reports, titled World Economic Outlook (WEO) and the Global Financial Stability Review (GFSR), comes amid heightened fears of a war between Iran and Israel.
The IMF reports that the escalating conflict comes at a time when financial markets have remained optimistic of a soft landing for the global economy.
The IMF reports that the escalating conflict comes at a time when financial markets have remained optimistic of a soft landing for the global economy.
That soft landing, which would include lowering inflation, receding interest rates and would avoid a potential recession, could be threatened by the outbreak of war.
That soft landing, which would include lowering inflation, receding interest rates and would avoid a potential recession, could be threatened by the outbreak of war.
'The Guardian' reports that previous Middle East conflicts have resulted in significantly higher oil prices. .
Pierre-Olivier Gourinchas, the IMF’s economic
counsellor, said the organization was evaluating the
potential for another commodity shock from the conflict.
The increased inflation that would
come from higher energy prices would
trigger a response from central banks that
would tighten interest rates in order to
secure inflation coming back to target,
and that would weigh down on activity, Pierre-Olivier Gourinchas, IMF economic counsellor, via 'The Guardian'.
The increased inflation that would
come from higher energy prices would
trigger a response from central banks that
would tighten interest rates in order to
secure inflation coming back to target,
and that would weigh down on activity, Pierre-Olivier Gourinchas, IMF economic counsellor, via 'The Guardian'.
It would do so in a context in which,
in some countries, activity and growth
is already fairly weak, so that might
also have a strong effect there, Pierre-Olivier Gourinchas, IMF economic counsellor, via 'The Guardian'.
According to Gourinchas, the impact of a 15% increase
in the price of oil, combined with higher shipping costs,
could result in a 0.7% increase in global inflation.
According to Gourinchas, the impact of a 15% increase
in the price of oil, combined with higher shipping costs,
could result in a 0.7% increase in global inflation.
Gourinchas also warned that such
an increase would also bring down
business confidence and global investment.
Credit: Wibbitz Top Stories Duration: 01:31Published
The IMF team, led by Nathan Porter, expressed dismay at Pakistan's finance ministry for prematurely claiming fulfillment of structural benchmarks. Before completing their review, the team arrived to analyze economic data. The ministry's premature announcement left the IMF unable to provide feedback. Pakistan's finance minister assured such incidents wouldn't recur. Discussions continue for the release of the last $1.1 billion tranche, with speculation of a potential mini-budget to boost revenues.
#IMF #NathanPorter #PakistanEconomicCrisis #IMFPakistan #PakistanEconomy #IMFBailout #Worldnews #Pakistannews #Economynews #Oneindia #Oneindianews
~HT.178~PR.152~GR.123~
Why does the world need more women in the labour market and managerial positions? Kristalina Georgieva, the International Monetary Fund's Managing Director, shares her thoughts on the Global Conversation.
Credit: euronews (in English) Duration: 08:00Published
Revenue and Department of Economic Affairs Secretary Tarun Bajaj on bringing petroleum products under GST said that this move involves interest of both state and centre. Tarun Bajaj said, "Till we get..
GST collection in March this year stood at a record high of Rs 1,23,902 crore. Revenue and Department of Economic Affairs Secretary Tarun Bajaj said that the all-time high record collection of Goods..
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