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The Plan Expenditure for 2015-16 was set at ₹465,277 crore. The Non-Plan Expenditure was estimated at ₹1,312,200 crore, with the total being estimated at ₹1,777,477 crore. [40] The government expects ₹1,449,490 crore as tax receipts, of which ₹523,958 crore will go to state governments.
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.
The Union Budget of India, also referred to as the Annual Financial Statement in Article 112 of the Constitution of India is the annual budget of the Republic of India set by Ministry of Finance for the following financial year, with the revenues to be gathered by Department of Revenue to identify planned government spending and expected government revenue and the expenditures gathered by ...
The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government on a periodical basis. As per Article 112 of the Indian Constitution, it is a compulsory task of the government. [3] The first budget of India was presented on 18 February 1860 by Scotsman James Wilson. [4]
E-payments have been heavily promoted in India showing consumers the various ways they can make these payments Including ATMs, the Internet, mobile phones and drop boxes. Due to RBI efforts and the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), now over 75% of all transaction volume is electronic, including both ...
Non-plan expenditure pegged at ₹ 12,198.92 billion (US$140 billion) for 2014-15, including fertilizer subsidy and defence spending; Gross tax receipts pegged at ₹ 13,645.24 billion (US$160 billion); non-tax revenue ₹ 2,125.05 billion (US$25 billion); capital receipt ₹ 730 billion (US$8.4 billion) in 2013-14
NPCI Bharat BillPay Limited (NBBL) doing business as Bharat Connect, and formerly named Bharat Bill Payment System (BBPS) [1] is an integrated bill payment system in India offering interoperable and accessible bill payment service to customers through a network of agents of registered members as Agent Institutions (AI), enabling multiple payment modes, and providing instant confirmation of ...
There was huge speculation that government may increase tax rates to decrease its fiscal deficit so, there was a dip in BSE Sensex after touching the 50,000 marks other than that many economic journals also suggested introducing a new tax on High net worth individuals. The demand in the Indian market was low and the unemployment rate was very ...