Call us +91 -7376325889/ 7376335889
Mail
Support
Partners
Careers
Knowledge Center
Downloads
Margin Calculator
Equity
F&O
MF
Online Trading
Open an Account
Back Office
Apply IPO
ABOUT US
SERVICES
MARKETS
Equity
Derivatives
Mutual Fund
IPO
PORTFOLIO
OUR RECOMMENDATIONS
CONTACT US
CALCULATORS
MENU
×
HOME
SERVICES
MARKETS
PORTFOLIO
OUR RECOMMENDATIONS
ABOUT US
SERVICES
CONTACT US
CALCULATORS
Online Trading
Open an Account
Back Office
Apply IPO
Equity Analysis
NEWS
Price
Volume
Analysis
Company Profile
News Analysis
Corporate Action
Other Markets
Gainers & Losers
Pre-Session
Mid-Session
End-Session
Hot Pursuit
Corporate News
Foreign Markets
Economy-News
Corporate Results
Stock Alert
Market Beat
Other-Markets
Quick-Peek
FuturesMarket
Political-News
Analyst-Poll
MF-News
IPO-News
Economy News - Detailed News
Back
Economic Survey says fiscal deficit expected to be at 6.4% of GDP in FY 23
31-Jan-23 16:55 Hrs IST
According to the latest Economic Survey, fiscal deficit is expected to be at 6.4% of GDP in FY 23. The Survey highlighted that conservative budget assumptions provided a buffer during global uncertainties. The resilience in the fiscal performance was due to a recovery in economic activity and buoyancy in revenues. Gross Tax Revenue registered a Year on year (YoY) growth of 15.5 % from April to November 2022, and the Net Tax Revenue to the Centre after the assignment to states grew by 7.9 % on a YoY basis, stated the Survey. Structural reforms like the introduction of GST and the digitalisation of economic transactions have led to the greater formalisation of the economy and hence expanded the tax net and enhanced tax compliance. Thus revenues have grown at a pace much higher than the growth in GDP. The Economic Survey highlighted that Direct taxes grew at 26 % Year On Year basis due to corporate and personal income tax growth in FY22. The Survey further added that growth rates observed in the major direct taxes during the first eight months of FY23 were much higher than their corresponding longer-term averages. The Survey informed that high imports have led to a 12.4 % YoY growth in the customs collection from April to November 2022. The excise duty collection has declined by 20.9 % from April to November 2022 on a YoY basis.
Powered by
Capital Market - Live News