Business Express

Fiscal deficit at 83.2% of budget estimates in Q1 on poor tax collection

The country’s fiscal deficit in the course of the first quarter of this fiscal widened to Rs 6.sixty two trillion or eighty three.2 for every cent of the budget estimates, generally on account of weak tax collections owing to the coronavirus lockdown.

Fiscal deficit in the course of the corresponding period of very last year was 61.four for every cent of the budget estimates.

The govt experienced pegged the fiscal deficit for 2020-21 at Rs seven.96 trillion or three.five for every cent of the GDP in the Price range which was presented by Finance Minister Nirmala Sitharaman in February.


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Business Unit

Indian Tea Association, CII welcome sops to tea sector in Assam budget

The Indian Tea Association (ITA) and apex chambers CII and FICCI welcomed Assam government’s initiative to improve the quality of life of tea workers and offer sops to the tea plantation sector to tide over the difficult times.

In his Budget proposal for 2020-21, Assam finance minister Dr. Himanta Biswa Sarma announced that the 7.21 lakh tea labourers will get ₹50,000 each as payment of gratuity on retirement. The budget was submitted on March 6.

This apart the third tranche of ongoing financial support of ₹3,000 each will be paid through bank transfer. Also, tea gardens will get substantial share

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