FM cites higher tax mop up to dismiss economic slowdown fears

January 9, 2017

New Delhi, Jan 9: Dismissing concerns of slowdown due to demonetisation, Finance Minister Arun Jaitley today said both direct and indirect tax collections have shown robust increase during the April-December period, indicating uptick in economic activity including manufacturing.

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He said direct tax collection was up 12.01 per cent at Rs 5.53 lakh crore in April-December 2016 as compared to revenue in the year-ago period, while indirect tax receipts soared 25 per cent to Rs 6.30 lakh crore.

Giving the break-up, he said excise collection was up 43 per cent at Rs 2.79 lakh crore, while service tax rose 23.9 per cent to Rs 1.83 lakh crore in the first nine months of the current fiscal. Customs duty receipts were up 4.1 per cent at Rs 1.67 lakh crore.

Indirect tax collection in December was up 14.2 per cent year-on-year, he said.

During the month, which witnessed the demonetisation process, the excise collection was up 31.6 per cent, Jaitley said, adding that this category is directly linked to manufacturing.

Service tax receipts in December were also up 12.4 per cent. Customs revenue dipped 6.3 per cent as gold imports came down.

"Tax collection data is real and not an estimation," Jaitley said, while dismissing apprehensions of slowdown in following currency squeeze post demonetisation.

When compared with tax collections in November, indirect tax receipts in December 2016 were up 12.8 per cent, he said.

"Since there has been a considerable debate in the public space as to the impact of currency squeeze in the months of November and December, the data of these two months becomes relevant," Jaitley said.

VAT collections in most states too have shown an increase and they also received taxes in the old currency in November. "In my opinion, all well administered states have seen rise in VAT collection even in November," he said.

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May 10,2024

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The Supreme Court Friday granted interim bail to Delhi Chief Minister Arvind Kejriwal till June 1 in the excise policy case.

The top court, however, stated that it will be passing a detailed order over the matter soon.

On Thursday, the Enforcement Directorate had opposed the move to grant interim bail to Kejriwal saying that “any special concession” to him will “amount to anathema to the rule of law and equality… thereby creating two separate classes in the country viz. ordinary people, who are bound by the rule of law as well as the laws of the country, and politicians who can seek exemption from the laws”.

The ED had arrested Kejriwal on March 21 in the excise policy case.

“The right to campaign for an election is neither a fundamental right nor a constitutional right and not even a legal right,” the ED said, maintaining that to its knowledge, “no political leader has been granted interim bail for campaigning even though he is not the contesting candidate”.

After the ED filed its affidavit, the AAP, in a press release, said, “The legal team of Delhi Chief Minister and AAP National Convenor, Shri Arvind Kejriwal, has raised strong objection to the affidavit filed by the Enforcement Directorate opposing interim bail in the Supreme Court.”

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May 10,2024

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New Delhi: In a big blow to Brij Bhushan Sharan Singh, a Delhi court has ordered the framing of charges against the former Wrestling Federation of India chief in the sexual harassment allegations levelled by women wrestlers. The court has said there is sufficient evidence on record to do so, and the trial against him can now begin. 

Friday's order by the Rouse Avenue court comes days after the BJP decided not to repeat Mr Singh, who is the party MP from Uttar Pradesh's Kaiserganj, as the candidate from the constituency and decided to field his son Karan Bhushan Singh instead. 

The court has ordered the framing of charges under Indian Penal Code sections Ordered to frame charges against Brij Bhushan under sections 354 (outraging a woman's modesty), 354-A (sexual harassment) and 506 (criminal intimidation). The Delhi Police had filed a chargesheet against under these sections and one additional section - 354D (stalking) - on June 15 last year. 

Charges should also be framed against the former assistant secretary of the Federation, Vinod Tomar, under Section 506, the court said. 

Additional Chief Metropolitan Magistrate Priyanka Rajpoot said the charges will be framed against Mr Singh for sexually harassing five wrestlers and that he stands discharged in the allegations levelled by the sixth.

The six-time MP has been at the centre of a huge political storm since last year, when sexual harassment charges were levelled against him and protesters had hit the streets led by Olympic medallists Sakshee Malikkh and Bajrang Punia, as well as Commonwealth Games and Asian Games medallist Vinesh Phogat.

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News Network
May 6,2024

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The stage is all set for the third phase of voting for the Lok Sabha election, which will take place on Tuesday, May 7. The polling will take place across 94 Lok Sabha constituencies covering ten states and two union territories.

Jammu and Kashmir's Anantnag-Rajouri Lok Sabha seats were also to vote in the third phase of polling. However, due to several connectivity issues, the Election Commission of India rescheduled it to May 25.

The voting in the third phase of the Lok Sabha election will begin at 7 am on Tuesday and conclude at 5 pm. The results will be declared on June 4.

Lok Sabha election Phase 3: List of states and constituencies:

Karnataka Chikkodi, Belgaum, Bagalkot, Bijapur, Gulbarga, Raichur, Bidar, Koppal, Bellary, Haveri, Dharwad, Uttara Kannada, Davangere, Shimoga 
Assam Dhubri, Kokrajhar, Barpeta, Gauhati
Chhattisgarh Sarguja, Raigarh, Janjgir-Champa, Korba, Bilaspur, Durg, Raipur
Bihar Jhanjharpur, Supaul, Araria, Madhepura, Khagaria
West Bengal  Maldaha Uttar, Maldaha Dakshin, Jangipur, Murshidabad
Goa North Goa, South Goa
Gujarat  Kachchh, Banaskantha, Patan, Mahesana, Sabarkantha, Gandhinagar, Ahmedabad East, Ahmedabad West, Surendranagar, Rajkot, Porbandar, Jamnagar, Junagadh, Amreli, Bhavnagar, Anand, Kheda, Panchmahal, Dahod, Vadodara, Chhota Udaipur, Bharuch, Bardoli, Surat, Navsari, Valsad    
Uttar Pradesh Sambhal, Hathras, Agra (SC), Fatehpur Sikri, Firozabad, Mainpuri, Etah, Budaun, Aonla, Bareilly
Madhya Pradesh Bhind, Bhopal, Guna, Gwalior, Morena, Rajgarh, Sagar, Vidisha, Betul
Maharashtra  Baramati, Raigad, Osmanabad, Latur (SC), Solapur (SC), Madha, Sangli, Satara, Ratnagiri-Sindhudurg, Kolhapur, Hatkanangle
Dadra and Nagar Haveli Dadra and Nagar Haveli
Daman and Diu Daman and Diu

Over 1,300 candidates, including 120 women, are in the fray in the third phase of the Lok Sabha election. Some of the key candidates include bigwigs such as union ministers Amit Shah, Jyotiraditya Scindia, Mansukh Mandaviya, Parshottam Rupala, Pralhad Joshi, and SP Singh Baghel. Former Madhya Pradesh chief ministers Shivraj Singh Chouhan and Digvijaya Singh are also contesting the election in Madhya Pradesh. At the same time, the fate of former Karnataka chief minister Basavaraj Bommai will also be decided in the third phase. Meanwhile, several members of Mulayam Singh Yadav's family are also contesting in this phase in Uttar Pradesh.

List of key candidates and their constituencies

Amit Shah (BJP) - Gandhi Nagar, Gujarat

Digvijaya Singh (Congress) - Rajgarh, Madhya Pradesh

Shivraj Singh Chouhan (BJP) - Vidisha, Madhya Pradesh

Dimple Yadav (SP) - Mainpuri, Uttar Pradesh

Supriya Sule (NCP) - Baramati, Maharashtra

Purshottam Rupala (BJP) - Rajkot, Gujarat

Jyotiraditya Scindia (BJP) - Guna, Madhya Pradesh

Pralhad Joshi (BJP) - Dharwad, Karnataka

KS Eshwarappa (BJP) - Shimoga, Karnataka

Praniti Shinde (Congress) - Solapur, Maharashtra

Hasmukbhai Patel (BJP) - Ahmedabad East, Gujarat

Pallavi Dempo (BJP) - South Goa, Goa

Adhir Ranjan Chowdhury (Congress) - Berhampore, West Bengal

The Lok Sabha elections are being held in seven phases - with the first phases concluded on April 19 and April 26. The third phase will be held on May 7; the fourth phase will be held on May 13; the fifth phase will be on May 20; the sixth phase will be on May 25; and the seventh phase on June 1.

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