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The Ministry of Water Resources, River Development and Ganga Rejuvenation was the apex body for formulation and administration of rules and regulations relating to the development and regulation of the water resources in India. The Ministry was formed in January 1985 following the bifurcation of the then Ministry of Irrigation and Power, when ...
The tax came into effect from 1 July 2017 through the implementation of the One Hundred and First Amendment of the Constitution of India by the Indian government. The GST replaced existing multiple taxes levied by the central and state governments. It an indirect tax (or consumption tax) used on the supply of goods and services. It is a ...
The government expects ₹1,449,490 crore as tax receipts, of which ₹523,958 crore will go to state governments. Non-tax receipts were estimated at ₹221,733 crore for 2015–16. [41] The defence budget was increased from ₹2.29 lakh crore in 2014–15 to ₹2.46 lakh crore in 2015–16, an increase of 10.95%. [42]
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The tax is usually accompanied by a number of service taxes, e.g., water tax, drainage tax, conservancy (sanitation) tax, lighting tax, all using the same tax base. The rate structure is flat on rural (panchayat) properties, but in the urban (municipal) areas it is mildly progressive with about 80% of assessments falling in the first two slabs.
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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; Income tax exemption limit for senior citizens raised from ₹ 250,000 (US$2,900) to ₹ 300,000 (US$3,500)