Reserve Bank nundi Mastu Paisal Vachayi ga.. Lite emo

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endi vachedi announcement ye inka em raaledu antunnaru

[timmy]

Centre may seek ₹30,000-crore interim dividend from RBI to meet fiscal target

PTI

NEW DELHI, SEPTEMBER 29, 2019 17:07 IST

UPDATED: SEPTEMBER 29, 2019 20:25 IST

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Last fiscal, the RBI paid ₹28,000 crore as interim dividend./ File  

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Reserve Bank of India

Government finances have come under pressure due to moderation in revenue collection and a slew of measures are being taken to lift growth from a six-year low of 5% in the first quarter of the current fiscal.

The Centre may seek an interim dividend of about ₹30,000 crore from the Reserve Bank of India (RBI) towards the end of the financial year to meet its fiscal deficit target of 3.3% of GDP for 2019-20, sources said.

Government finances have come under pressure due to moderation in revenue collection and a slew of measures are being taken to lift growth from a six-year low of 5% in the first quarter of the current fiscal.

“If required, the government may request the Reserve Bank of India for interim dividend of ₹25,000-30,000 crore during the current fiscal,” an official said.

The assessment in this regard would be made in early January, the official added.

Apart from the RBI dividend, there are other means of bridging any shortfall, including mop up from disinvestment and higher utilisation of National Small Saving Fund (NSSF), sources added.

In the past, the government has taken the route of seeking interim dividend from the RBI to balance its account. Last fiscal, the RBI paid ₹28,000 crore as interim dividend.

During 2017-18, the government received ₹10,000 crore as interim dividend from the central bank.

Last month, Governor Shaktikanta Das-led RBI central board gave its nod for transferring to the the government a sum of ₹1,76,051 crore, comprising ₹1,23,414 crore of surplus for the year 2018-19 and Rs 52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF).

Out of the net income of ₹1,23,414 crore for the year 2018-19, RBI had already transferred ₹28,000 crore to the government as interim dividend in March 2019.

As far as gross borrowing is concerned, Budget 2019-20 pegged it at ₹7.10 lakh crore for the current fiscal, significantly higher than the ₹5.35 lakh crore borrowing programme for financial year 2018-19.

Gross borrowings of the government during the first half of financial year 2019-20 will stand at ₹4.42 lakh crore, which works out to 62.3 per cent of the total target for the entire year.

To pull the economy out of a six-year low growth and a 45-year high unemployment rate by reviving private investments, the government has taken slew of measures, including cut in corporate tax rate by almost 10 percentage points having tax implication of ₹1.45 lakh crore.

As part of the exercise, the government also withdrew the enhanced surcharge on long- and short-term capital gains for foreign portfolio investors as well as domestic portfolio investors with revenue implication of ₹1,400 crore.

https://www.thehindu.com/business/Economy/centre-may-seek-30000-cr-interim-dividend-from-rbi-to-meet-fiscal-target/article29548761.ece

this the last i hear dabbulu ichaara??

[timmy]

GST Collection Falls To 19-Month Low In September

বাংলায় পড়ুনहिंदी में पढ़ें

The Goods and Services Tax (GST) collection in September declined to Rs. 91,916 crore, as against Rs. 98,202 crore in the preceding month.

Economy | Edited by Abhishek (With inputs from agencies) | Updated: October 01, 2019 17:44 IST

 

 

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GST collections in September stood at Rs. 91,916 crore.

 

NEW DELHI: 

The Goods and Services Tax (GST) collection has declined to a 19-month low and dropped to Rs. 91,916 crore in September, showed government data released on Tuesday, increasing the risk of fiscal slippage at a time demand remains weak in India. In the previous month, the collection was Rs. 98,202 crore, according to the data. There has been a 2.67 per cent drop from revenue collection in the same month a year ago, which was at Rs. 94,442 crore.

"The total gross GST revenue collected in the month of September, 2019 is Rs. 91,916 crore of which CGST is Rs. 16,630 crore, SGST is Rs. 22,598 crore, IGST is Rs. 45,069 crore (including Rs. 22,097 crore collected on imports) and cess is Rs. 7,620 crore (including Rs. 728 crore collected on imports)," the Finance Ministry said in a release.

The total number of GSTR 3B returns (summary of self-assessed return) filed for the month of August (up to September 30) was 75.94 lakh. 

The government has settled Rs. 21,131 crore to CGST and Rs. 15,121 crore to SGST from IGST as regular settlement. 

The gross GST collections comprised of Rs. 16,630 crore collection through Central-GST (CGST), Rs. 22,598 crore in State-GST and Rs. 45,069 crore through Integrated-GST (IGST). 

The total revenue earned by the central government and the state governments after regular settlement in September was Rs. 37,761 crore for CGST and Rs. 37,719 crore for the SGST, it said.

During April-September, the domestic component has grown by 7.82 per cent, while the GST on imports has shown negative growth and the total collection has grown by 4.90 per cent, it added.

The lower indirect tax collection is set to put further pressure on the government finances.

With government already committed to scaling up public spending to boost the sagging economy, lower GST collection could change its fiscal maths.

The government needs an average monthly collection of more than 1 trillion rupees every month to meet its budget target.

COMMENT

By lowering corporate tax it has already taken a big bet. The lower collection will further exacerbate the risk of the country slipping from its fiscal deficit target of 3.3 per cent of gross domestic product in 2019/20, especially after government tax revenue for the current fiscal year was reduced by Rs. 1.45 lakh crore due to the corporate tax cut.

https://www.ndtv.com/business/gst-collections-fall-nearly-3-in-september-2110343?pfrom=home-topscroll

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Mandu meda oka 10% penchandi daridram vaduludi