New Delhi: Over the past few weeks, every question to government officials or oil company executives about the possibility of reducing customs for fuel that raises the current response – “this political call”.
But as many political calls as economic decisions considering that the Center wants a fiscal position to be comfortable before influencing the cutting of crucial assembly polls in Uttar Pradesh and other countries.
However, the annual impact of cutting is seen as the order of the 1.5 lakh rs of the crore with a dent to fecemermer over the remaining part of the financial year is currently pegged at Rs 62,500-65,000 Crore.
“If the income situation is uncomfortable, maybe we will not be in a position to go for this kind of reduction,” said the government’s source.
The latest numbers released by the Controller General account show that the central tax income jumped 27% during the first half of the financial year today to rs 10.8 lakh crore – which is 60% of the target a full year.
There is hope that direct tax collection will be higher than budget estimates.
In addition, the GST collection returned to the lane after slipping in the background of the second wave of pandemic.
What was provided with further pillows was a 33% increase in customs collections of more than 1.7 lakh crore rs during the first half, led by taxes on gasoline and diesel.
So far, it has succeeded in controlling expenses and has a pillow to encourage additional capital expenditure, although there may be a tightening of belts in some “wasteful segments” to keep the fiscal amount as a whole in the examination.
During the central half, the fiscal deficit was contained at 35% of the full year target, the best in several years.
Amid the overall economic picture of the Rosy, oil prices and the impact of inflation proved to be a painful point and seen fanning expectations of inflation with economists who have talked about the effects of the second order in transportation and other economic segments.
As long as the government has stated that the number of inflation does not reflect the impact of high pump prices remembering low weight in the index.
While everyone, including the Indian reserve bank, has warned about inflationary pressures in the economy, it was not until Wednesday that the Ministry of Finance finally admitted it.
“In recent months, crude oil prices have witnessed global upsurge.
As a result, domestic gasoline and diesel prices have increased in recent weeks that provide inflationary pressures,” he said in a statement, adding that the decline in prices would help the poor and middle class, While giving further encouragement for consumption.