Government increases GST revenue target for January-February. India's forex reserves inch by $58m to record high of $461.21bn.
I See You and Raise You: The Government has raised GST collection targets for January and February by ?10,000cr ($1,410m) by checking fraudulent input tax credit claims.
Higher revenue might provide the government with some relief on the fiscal deficit front, which has already exceeded budget estimate of over ?7L cr ($98.7bn) and with lower than expected revenue from tax as well as from disinvestment.
There has been no change for the March target. Hindu BusinessLine
Stop Only At The Summit: India’s foreign exchange reserves rose by $58m to reach a life-time high of $461.21bn in the week to January 10, according to the RBI data.
Good to Know: India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India''s reserve position with the International Monetary Fund (IMF). Outlook
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