'However, this time it looks like that is not working.'
'It is entering growth territory on a month-on-month basis.'
The Centre managed to collect only Rs 990 crore as compensation cess in April 2020-21, almost one-ninth of the figure of Rs 8,874 crore mopped up a year ago. The subdued collection would further increase states' problems unless the GST Council, which meets next week, decides to borrow from the market.
Direct tax collections grew by a meagre 6.6 per cent during April-July of the current financial year against the Budget target of 14.4 per cent for 2018-19. Corporation taxes, in particular, grew at just 0.57 per cent, the lowest in the first four months in at least seven years.
'The full effects of the government initiatives will have to work their way through, whether in infrastructure or in the banking sector.'
The GST Network's chairman Navin Kumar speaks to Dilasha Seth and Indivjal Dhasmana on various aspects of the new tax regime.
Punjab National Bank has made a name for itself in recovery of bad loan dues. Usha Ananthasubramanian, managing director and chief executive officer of the government-owned lender, explains how it has achieved this reputation.
Consensus seems a problem before the current session of Parliament ends.
Even today, many MFIs already distribute pension and micro insurance products to low-income households.
The IMG meeting will be convened shortly.
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