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Government Increases GST Revenue Target for January-February

Government increases GST revenue target for January-February. India's forex reserves inch by $58m to record high of $461.21bn.

 

INDIAN ECONOM 

Government increases GST revenue target for January-February. 

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

 

India's forex reserves inch by $58m to record high of $461.21bn.

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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