Clearly, additional transfers from the Centre by way of Rs 45,000 crore as tax devolution in excess of the Revised Estimate from the divisible pool due to improved tax receipts in March, eased the stress on states’ finances
This apart, Monday’s announcement by the government to take over vaccine procurement responsibility from states and provide the prophylactics free of cost to those in the age group of 18-44 years will cost the exchequer an
This amounted to bucking the trend of several immediate past years, when states had turned in a better show in fiscal consolidation and capital spending, maintaining a public capex ratio of 5:3.6:3.4 (states, CPSEs and Centre
Many of the schemes such as MGNREGA, Ujjwala, NSAP and PM Awas Yojana have seen a big jump in both physical and financial achievements in FY21 as additional succour was provided by the Centre to people affected by Covid-19 (s
India (Centre and states) spend 1.26% of GDP (FY20BE) on health, way behind Brazil at 6.8%, Turkey 10.5% and Mexico 11.6%. States were estimated to spend about Rs 1.9 lakh crore in FY20BE while the Centre about Rs 77,000 cror
“The transaction advisers are in touch with bidders, who have sought extra time for putting in bids for AI. Covid has affected mobility of bidders' representatives…site inspection is not happening,” an official said, ad
India (the Centre and states) spend 1.26% of GDP (FY20BE) on health, way behind Brazil at 6.8%, Turkey 10.5% and Mexico 11.6%. States were estimated to spend spend about Rs 1.9 lakh crore in FY20BE while the Centre about Rs 7
In FY21, state governments have developed cold feet in sustaining the capex tempo, but CPSEs, despite an erosion of their cash surplus and profits in a slowing economy, largely maintained the pace, thanks to constant prodding
Out of the total 4,12,046 cases assigned to National Faceless Assessment Centre (NFAC) after the faceless appeal scheme was launched in September 2020, notices were issued in 3,64,389 cases and final orders were issued in 14,
The Centre’s tax resolution scheme ‘Vivad Se Vishwas’ has resolved nearly a third of all direct tax disputes and has netted Rs 54,005 crore in tax revenue, 51% of which are from the central PSUs, Central Board of Direct
The move, initiated by the department of public enterprises, is to de-link the process of closure of a CPSE from disposal of its immovable assets to avoid any delay in closure of the loss-making entity.
Customs collections are seen on target. Since a lot of accounting flexibility is available for the Centre on the GST front due to the floating I-GST account, an estimate of Central GST mop-up at this stage is prone to correct
India’s economy regained quite a lot of lost steam in the December quarter, to register a flat growth of 0.4% after two consecutive quarters of deep contraction caused by the pandemic, according to official data.
They would also urge the PM against any ceiling on the vaccine price for the private sector, according to a person privy to the matter. Currently, the government procures the vaccines — Covishield and Covaxin — at a fixed
Even though the department of investment and public asset management (Dipam) had set a target to complete the transactions by June-end, the government may have to give shortlisted bidders a little bit of extra time if needed