Seoul, June 24 (IANS) The presidential policy chief said on Wednesday that the advent of a new artificial intelligence (AI) era requires new state infrastructure, calling for aggressive investment to bolster the country’s potential growth trajectory in AI.Kim Yong-beom, presidential chief of staff for policy, made the point at a discussion hosted by the Kwanhun Club, a senior journalists’ association, amid a stock market boom in South Korea driven by record profits and stock gains by AI-related …
Latest Tax Revenues News & Updates
Seoul, June 8 (IANS) South Korean President Lee Jae Myung said Monday the government will work to secure “absolute competitiveness” in advanced technologies to nurture the country into an industrial powerhouse.The president made the remarks while outlining his policy vision and goals for his second year in office at a press conference marking the first anniversary of his inauguration on June 4 last year.”By mobilizing all government and private-sector resources, (the government) will secure abso…
Bengaluru, April 7 (IANS) The proposed delimitation of Lok Sabha and Assembly constituencies would not only reduce the number of seats in southern states but also lead to financial disadvantages for them, former Congress MP D.K. Suresh said on Tuesday, alleging that tax revenues from the south would be diverted to northern states.Talking to reporters at his residence here, Suresh, President of the Bengaluru Urban, Rural and Ramanagara District Co-operative Milk Producers’ Societies Union Ltd.(…
Mumbai, Feb 2 (IANS) Lower revenue as a share of GDP has been more than offset by cuts to subsidies and spending on current schemes, leading to the smallest fiscal consolidation in six years, likely positive for growth, a new report has said.The fiscal consolidation for FY27 is the slowest in six years. And the budgeted disinvestment, which is a below-the-line funding item, is likely to see the highest rise in six years, the report from HSBC Global Investment Research said.”The central governmen…
New Delhi, Feb 1 (IANS) The Union Budget for 2026-27 tabled by Finance Minister Nirmala Sitharaman in Parliament on Sunday estimates the Gross Tax Revenue (GTR) at Rs 44.04 lakh crore, which represents a growth of 8.0 per cent over the revised estimate (RE) 2025-26.Direct Taxes, which include corporate tax and personal income tax, estimated at Rs 26.97 lakh crore, are the major contributors, constituting as much as 61.2 per cent of total gross tax revenue. Indirect taxes are estimated at Rs 17.0…
New Delhi, Jan 22 (IANS) The government will likely unveil Budget 2026 with roughly Rs 53.5 trillion worth of total expenditure, a capital expenditure growth of about 15 per cent and a fiscal deficit target of 4.2 per cent, a report projected on Thursday.The report from investment management firm OmniScience Capital said that tax revenues are projected to grow about 10 per cent year‑on‑year in FY27 on a nominal GDP growth assumption of around 9 per cent.Non‑tax receipts are also expected t…