Fiscal Developments
The Union Government finances have shown a resilient performance during the year FY23, facilitated by the recovery in economic activity, buoyancy in revenues from direct taxes and GST, and realistic assumptions in the Budget.
- The Gross Tax Revenue registered a YoY growth of 15.5 per cent from April to November 2022, driven by robust growth in the direct taxes and Goods and Services Tax (GST).
- Growth in direct taxes during the first eight months of the year was much higher than their corresponding longer-term averages.
- GST has stabilised as a vital revenue source for central and state governments, with the gross GST collections ....
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- 1 Chapter 9: Agriculture and Food Management – Plenty of Upside Left If We Get It Right
- 2 Chapter 10: Industry - Small and Medium Matters
- 3 Chapter 11: Services - Fuelling Growth Opportunities
- 4 Chapter 12: Infrastructure – Lifting Potential Growth
- 5 Chapter 13: Climate Change and India: Why We Must Look at the Problem through Our Lens
- 6 Chapter 1: State of the Economy – Steady as She Goes
- 7 Chapter 2: Monetary Management and Financial Intermediation- Stability is the Watchword
- 8 Chapter 3: Prices and Inflation - Under Control
- 9 Chapter 4: External Sector - Stability amid Plenty
- 10 Chapter 5: Medium-Term Outlook – A Growth Strategy for New India
