The trade winds have shifted sharply. US President Donald Trump’s decision to double tariffs on Indian exports from 25% to 50%, effective 27 August, has introduced a complex challenge for India’s economy.
The government is looking to tap new data for its upcoming revision to the GDP series, sources told Moneycontrol.
The government is considering changing the base year for computation of the GDP to 2022-23 in February 2026 to reflect an accurate picture of the economy, a top government official said. This will be the first revision in over a decade. It was last done in 2011-12.
After India’s goods and services tax (GST) collections touched record high-mark at Rs. 2.10 lakh crore in April, 2024, Arvind Subramanian, former Chief Economic Adviser (CEA) to the central government has now highlighted that the despite the high collections, GST revenue for fiscal 2023-24 (FY24) has still not surpassed the pre-GST level.
Much has been reported about the robust goods and services tax (GST) collection. But its proportion to the size of the economy is only crawling up.
The Central government’s tax collections have been steadily growing faster than the nominal GDP for the past two-and-a-half years; and…
GST as a share of gross domestic products (GDP) has maintained parity with personal income tax, a report by Finance…
The tax buoyancy in the goods and services tax (GST) regime has improved for the Union government but same has…
India’s net direct tax collections amounted to Rs. 14,09,640.83 crore for FY 2022, which is the highest collection ever, signaling…
