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Of every ₹100 that the Union government collects as tax, ₹10-11 is collected as cesses and surcharges, a trend unchanged since the pandemic year 2020-21. Also, the government spends ₹1-2 in collecting every ₹100 of tax; this is called the cost of collection. The amount collected as cesses and surcharges, along with the cost of…
A worker cleans the floor of a showroom during a presentation of the Union Budget 2025-26, in Mumbai, on February 1. | Photo Credit: PTI It would not be an exaggeration to say that this is the biggest tax cut that the middle class has ever got in any Union Budget. To be sure, the…
Representative image | Photo Credit: MURALI KUMAR K The Union government in the FY25 Budget on Saturday (February 1, 2025) announced a scheme to make India a global hub for toys by focusing on cluster development. Finance Minister Nirmala Sitharaman in her budget speech said the scheme will focus on development of clusters, skills, and…
Representative image | Photo Credit: Getty Images The fiscal deficit for FY25 has been pegged at 4.8% of GDP and at 4.4% for FY26, Finance Minister Nirmala Sitharaman said on Saturday (February 1, 2025). Presenting the Budget 2025-26, she said net market borrowings are estimated at ₹11.54 lakh crore for next fiscal year. The finance…
