Shishir SinhaK.R. Srivats

Jul 25, 2024 | thehindubusinessline.com | Shishir SinhaK.R. Srivats |Shishir Sinha |K.R. Srivats

Economic Affairs Secretary Ajay Seth has said the Budget announcement related to reducing debt to GDP ratio is a policy intent. In an interview with businessline, he said this will be followed by legislative measures. Excerpts from the interview:The Budget talks about a shift to lowering debt to GDP ratio from sticking to rigid fiscal deficit. What kind of changes are we going to see? You are getting at a legislative anchor for fiscal consolidation. We are not yet at that stage.

Jul 16, 2024 | thehindubusinessline.com | Shishir SinhaK.R. Srivats |Shishir Sinha |K.R. Srivats

The Union Budget may not make any change in the 45-day pay rule in Income Tax law as the government has amended the Company Law order and notified new form for reporting by companies about delay in payment to micro and small enterprise suppliers. Tax and legal experts are divided over how the change will impact compliance burden for large companies.

Jan 31, 2024 | thehindubusinessline.com | Shishir SinhaK.R. Srivats |Shishir Sinha |K.R. Srivats

Ahead of the Interim Budget, two high frequency economic indicators sent mixed signals. While GST collection surged to second all-time high of over ₹1.72-lakh crore in January and fiscal deficit reached 55 per cent of budget estimate in April-December period, eight core industries’ output growth slumped in December 2023 to a 14-month low of 3.8 per cent. GST revenue for January 2024 surged to ₹1.72 lakh crore, reflecting an impressive 10.4 per cent Year-on-Year growth.