Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Economy to grow by little over 6 per cent in 2013-14: Chidambaram.


Date: 08-04-2013
Subject: Economy to grow by little over 6 per cent in 2013-14: Chidambaram
The Indian economy will grow by a little over 6 per cent in fiscal year 2013-14, Finance Minister P Chidambaram said on Saturday.

The comment comes after both Raghuram Rajan. chief economic advisor to the Finance Ministry, and Montek Singh Ahluwalia, deputy chairman of the planning commission, recently expressed confidence that India's gross domestic product (GDP) will grow by over 6 per cent during the current fiscal year.
 
According to the government estimate, the country's economy will grow by 5 per cent in fiscal year 2012-13, the lowest in a decade. Economic momentum has decelerated sharply at a time of weak external demand and limited space for monetary or fiscal stimulus, global brokerage Nomura said.
 
The government has achieved its tax target of Rs. 10,38,003 crore for the fiscal year 2012-13, Mr Chidambaram said. Direct taxes contributed Rs. 5 lakh crore, while indirect tax collections stood at Rs. 4 lakh crore.
 
"There has been some shortfall in direct tax collection. But, overall, we met the target," he said.
 
Mr Chidambaram added that considering it was a difficult year, a revenue growth of 16.7 per cent is commendable, especially when the economy grew at 5 per cent.
 
In order to bridge the widening fiscal deficit, the government, in this year's budget, levied a 10 per cent surcharge on taxable income over Rs. 1 crore. The tax department has also recently sent over 70,000 notices across the nation to tax evaders.
 
The finance minister also expressed hope that fiscal deficit for the fiscal year 2012-13 will be better than 5.2 per cent of the GDP.
 
In his budget announced this February, Mr Chidambaram had said that fiscal deficit has been curtailed at 5.2 per cent, lower than the estimated target of 5.3 per cent.
 

Source : profit.ndtv.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-09-2025
Corrigendum
Corrigendum to Notification No. 9/2025 – Central Tax (Rate) dated 17.09.2025

Date: 17-09-2025
Notification No. 13/2025-Central Tax (Rate)
Seeks to amend Notification No. 21/2018- Central Tax (Rate) dated 26.07.2018.

Date: 17-09-2025
Notification No. 14/2025-Central Tax (Rate)
Seeks to notify GST rate for bricks.

Date: 17-09-2025
Notification No. 37/ 2025-Customs
Seeks to amend Notification No.19/2019-Customs dated 06.07.2019

Date: 17-09-2025
Notification No. 38/ 2025-Customs
Seeks to amend Notification No.29/2025-Customs dated 09.05.2025

Date: 17-09-2025
Notification No. 39/2025-Customs
Seeks to amend Notification No.50/2017-Customs, dated 30.06.2017

Date: 17-09-2025
NOTIFICATIONNo. 15/2025 – Central Tax
Seeks to exempt taxpayer with annual turnover less than Rs 2 Crore from filing annual return.

Date: 17-09-2025
NOTIFICATION No. 16/2025–Central Tax
Seeks to notify clauses (ii), (iii) of section 121, section 122 to section 124 and section 126 to 134 of Finance Act, 2025 to come into force.

Date: 17-09-2025
Notification No. 12/2025-Central Tax (Rate)
Seeks to amend Notification No. 8/2018- Central Tax (Rate) dated 25.01.2018.

Date: 17-09-2025
NOTIFICATION No. 14/2025 – Central Tax
Seeks to notify category of persons under section 54(6).



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001