State-owned banks have urged the government to lower their dividend payout for this financial year as they are looking to shore up their capital, said people familiar with the development. The government expects banks to pay dividends on the lines of central public sector enterprises, which pay 30% of the profit after tax or 5% … Read more
Personal guarantors of loans taken by bankrupt companies are in the dock as lenders are increasingly invoking such guarantees under the Insolvency and Bankruptcy Code (IBC). In the first three quarters of the ongoing fiscal 2023, National Company Law Tribunals (NCLTs) have admitted 117 such cases against personal guarantors, compared with 28 in the entire … Read more
The government has monetised assets worth ₹26,000 crore during FY23 against the target of ₹1.6 lakh crore for the current fiscal while proposal pipeline aggregating to ₹1.23 lakh crore is currently at various stages of processing, the NITI Aayog said. This takes the total monetisation value realized in FY22 and FY23 to ₹1.14 lakh crore … Read more
The Centre is likely to miss its asset monetisation target of ₹1.62 lakh crore for this fiscal by a whopping ₹55,000 crore. Despite the heavy lifting by the coal and mining sectors, the Indian Railways alone may fall short of its annual target by ₹28,000 crore, according to an internal finance ministry review. “The asset … Read more
Net direct tax collection so far this fiscal grew 17 per cent to reach Rs 13.73 lakh crore, which is 83 per cent of the revised target for the full financial year, the Central Board of Direct Taxes (CBDT) said on Saturday. The growth in direct tax mop-up, which comprises personal income tax and corporate … Read more
There has been a rise of 133 per cent in collection of major cess and surcharges levied by the Central government on various products during the five year period between 2017-18 and 2022-23, as it went up from Rs 2,18,553 crore in 2017-18 to Rs 5,10,549 crore in 2022-23 according to Finance Ministry data. Cess … Read more
The finance ministry has started daily monitoring of the revenue receipts, including tax collections, as well as expenditure beginning March 1, with an aim to keep fiscal deficit in check during the current fiscal. Although the government is expected to meet the revised tax revenue estimates, meeting the Rs 50,000 crore target from disinvestment receipts … Read more