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Drop of direct tax by 31% and indirect tax by 11 % alarms worst fiscal deficit in cards

According to data provided by Minister of State for Finance Anurag Thakur in Lok Sabha :   The net direct tax collection in April-August period of the current fiscal was 31.1 per cent lower on year-on-year (YoY) basis at over Rs 1.92 lakh crore During the same period of the last financial year, 2018-19, the Read More…

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India Ratings and Research warns FD to slip 7.6% and GDP Contract 5.3%

India’s real gross domestic product in Financial Year 2020-21 could contract 5.3 per cent, said India Ratings and Research on Wednesday   “This will be the lowest GDP growth in Indian history and the sixth instance of economic contraction, others being in FY58, FY66, FY67, FY73 and FY80,” said the ratings agency in a press Read More…

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Rupee hit 74.39 amid Concern over fiscal deficit and rising current account deficit.

The unabated outflow of foreign funds continues to pinch Indian rupee, as domestic currency slumped by 33 paise to finish at a fresh lifetime low of 74.39 against the US dollar  on Tuesday. This is the six consecutive fall for the rupee against US dollar Earlier in the day, the domestic currency erased all its Read More…