New Delhi, March 9 (IANS) The impact of the rise in global crude oil prices on the rate of inflation in India is not estimated to be substantial at this point, as the country’s inflation is near the “lower bound”, Finance Minister Nirmala Sitharaman said in Parliament on Monday.The price of crude oil that India imports has been on a declining trajectory for the past one year, till the geopolitical clashes commenced in West Asia on February 28, 2026, the Finance Minister said in an answer to a …
Latest GST News & Updates
Mumbai, March 9 (IANS) Maharashtra’s Medium Term Fiscal Policy (MTFP) statement for 2026-27 presents a picture of a state trying to outpace a rising debt burden through aggressive infrastructure spending.Although the headline figures suggest fiscal discipline, the underlying numbers indicate mounting long-term pressures. The document, released after the state Budget, shows that the state’s discretionary fiscal space is shrinking rapidly.Combined spending on salaries of Rs 1,75,951 crore, pen…
Mysuru (Karnataka), March 7 (IANS) Karnataka Chief Minister Siddaramaiah on Saturday said the allegation that the state government has excessively increased borrowing is far from the truth and maintained that the objective of this year’s Budget is to provide equal opportunities to people from all sections of society.Speaking to the media at the helipad in Pillahalli village, he said the Budget aims at the overall development of the state and seeks to ensure equal opportunities for all sections…
Mumbai, March 5 (IANS) Maharashtra’s public debt is set to climb to a staggering Rs 9.32 lakh crore in 2025-26, even as the state projects a strong 7.9 per cent economic growth that edges past the national forecast, according to the pre-budget Economic Survey presented in the Maharashtra Assembly on Thursday.Minister of State for Finance, Ashish Jaiswal, tabled the document, which paints a picture of robust expansion fueled by impressive GST inflows and buoyant market sentiment, while underscori…
Bengaluru, March 4 (IANS) Karnataka Home Minister G. Parameshwara on Wednesday alleged that southern states are facing financial discrimination, particularly in the allocation of GST shares and major infrastructure projects.Speaking to reporters here in the wake of Chief Minister Siddaramiah endorsing his Tamil Nadu counterpart M.K. Stalin’s stand on strengthening the federal structure in the country, Parameshwara said that big projects are often allotted to northern Indian states, while souther…
Chandigarh, March 3 (IANS) Punjab Finance Minister Harpal Cheema on Tuesday said the government has emerged among the top three states in terms of revenue growth, asserting that the state’s financial performance over the past four years reflects structural reforms, fiscal discipline, and administrative transparency. Cheema presented detailed data to the media here and described it as a decisive turnaround in the state’s fiscal health. “Punjab’s own tax revenue has surged significa…
New Delhi, March 1 (IANS) Punjab Chief Minister Bhagwant Singh Mann on Sunday said that last week’s court verdict relating to the excise policy case involving former Delhi Chief Minister Arvind Kejriwal, among others, marked a historic victory of truth in Indian politics and affirmed that AAP has emerged stronger as a national force. Launching a political challenge, Mann said Punjab will deliver 100 seats in the 2027 Assembly polls to defeat authoritarian rule, adding the victory against such …
Mumbai, March 1 (IANS) India’s gross Goods and Services Tax (GST) collection rose to Rs 1.83 lakh crore in February 2026, registering an 8.1 per cent increase compared to the previous month, according to official data released on Sunday.With this, the total gross GST revenue for the financial year 2025-26 stood at Rs 20.27 lakh crore as of February 28 — marking an 8.3 per cent year-on-year growth.During February, total refunds amounted to Rs 22,595 crore, up 10.2 per cent compared to the same…
New Delhi, Feb 28 (IANS) Union Finance Minister Nirmala Sitharaman said on Saturday that she would look into the issue of the arrest of Fino Payments Bank’s Managing Director (MD) and Chief Executive Officer Rishi Gupta after IT industry leader and former Infosys Chief Financial Officer (CFO) Mohandas Pai flagged GST’s overreach and requested the Finance Minister’s intervention in a social media post. Gupta was arrested on Friday under the Central Goods and Services Tax Act and the State Goods a…
New Delhi, Feb 27 (IANS) As the new GDP series (with base year 2022–23) is scheduled to be released on Friday, a sub-committee set up by the Ministry of Statistics and Programme Implementation (MoSPI) has also recommended an enhanced use of GST data in the new series for GDP estimates.The report of the sub-committee forms part of the process launched by MoSPI to revise the base year of the National Accounts to FY 2022–23.In the 2011-12 series, GST data were used to compile the Quarterly Nati…