TMI BlogIndia continues to remain a bright spot in world economy with robust macro-economic and fiscal parameters;X X X X Extracts X X X X X X X X Extracts X X X X ..... India continues to remain a bright spot in world economy with robust macro-economic and fiscal parameters; - News and Press Release Dated:- 1-6-2016 - News - Together with GDP growth of 7.9% in Q 4 of 2015-16 and 7.6% in the whole of 2015-16 The Provisional Accounts for 2015-16 have been released by the Government today (31.5.2016). Fiscal Deficit in 2015-16 stands at 3.9% of GDP as estimat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed both in BE and RE of 2015-16. This is a significant improvement over the Fiscal Deficit of 4.1% in 2014-15 and 4.7% in 2013-14. Revenue Deficit has also shown significant improvement due to increase in Capital Expenditure of the Central Government. Revenue Deficit which stood at 3.2% of GDP in 2013-14 has improved to 2.9% in 2014-15 and 2.5% in 2015-16. The Capital expenditure has increased ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... substantially to ₹ 2,35,253 crore in 2015-16 which is an increase of ₹ 38,572 crore over 2014-15 and ₹ 47,578 crore over 2013-14. Similarly, the Plan Expenditure in 2015-16 is ₹ 4,71,081 crores which is higher by ₹ 8437 crores over the previous year despite substantial increase in share of tax devolution to the States. The Gross tax collection at ₹ 14,56,8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 87 crore has shown 17% growth as compared to Fiscal 2014-15. The Gross tax collection has improved to 10.74% of GDP (tax-GDP ratio) in 2015-16 as compared to 10.06% in 2013-14. The devolution of tax collections to State Governments in 2015-16 is Rs..5,06,193 crore, which shows an increase of ₹ 1,68,385 crore over the devolution of ₹ 3,37,808 crore in 2014-15. In 2013-14 the tax share d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evolution to the States was ₹ 3,18,230 crore. Non Tax Receipts are ₹ 2,50,744 crore this year as compared to Rs..1,97,766 crore last year and ₹ 1,98,865 crore in 2013-14. The above highlights clearly indicate that the fiscal parameters are very robust and in line with the Budget projections. Together with GDP growth of 7.9% in Q 4 of 2015-16 and 7.6% in the whole of 2015-16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , India continues to remain a bright spot in world economy with robust macro economic and fiscal parameters. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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