non tax revenue

Experts believe that the RBI’s record surplus transfer will offer only partial support to the government’s strained fiscal position amid the continuing crisis in West Asia.

Tamil Nadu's new government must prioritize policy continuity for industrial growth, building on existing strengths in advanced manufacturing like electronics and semiconductors. The state aims to move beyond assembly to chip design and IP development.

Short-term global economic shocks, like the ongoing Middle East conflict, have the potential to temporarily slow the growth story - a fact that cannot be ignored if India hopes to be among the top three world economies in the coming years.

Tax and non-tax revenue receipts of the state government, till December 2019 of the FY 2019-20, a copy of which is with TOI, show that while it did relatively better in tax revenue side, it’s the non-tax revenue is alarming.

Faced with the challenge of raising revenue to fund guarantee schemes given the debt burden, chief minister Siddaramaiah may focus on untapped non-tax revenue sources in his budget on July 7.

Contrary to Punjab government's claims on efforts to revive the state's economy, the government has been able to garner just 3.59% of the total estimated non-tax revenue in the first two months of this fiscal year.

Finance minister Pranab Mukherjee suggested in his Budget speech on Monday that the changes he had proposed to direct taxes - mainly concessions for individuals and higher minimum alternate tax (MAT) on corporates - were revenue neutral.

Finance Minister Nirmala Sitharaman assured that India will maintain fiscal prudence while shielding citizens from rising global crude oil prices. She highlighted India's stable fuel prices compared to other nations, dismissing lockdown rumors as baseless and aimed at creating fear. The government has reduced excise duty on petrol and diesel to protect consumers.

BANGALORE: The Karnataka government has given the Tax Reforms Commission an extension of six months and asked it to look into the issue of non-tax revenue, an area which wasn't part of its original brief.

Even as the Telangana government continues to grapple with revenue crunch on account of the lockdown, the Centre has expressed its willingness to extend relaxations if the state opts for extra borrowings from banks.

With the Covid pandemic stretching Delhi government’s finances, all departments have been asked to generate more non-tax revenue.