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DiNapoli: 2020-21 tax revenues $3 billion above projections


ALBANY, N.Y. — Tax collections for State Fiscal Year (SFY) 2020-21 totaled $82.4 billion  —  $3 billion higher than forecast by the state Division of the Budget (DOB) in the Amended Executive Budget Financial Plan in February (latest projections), and $6.8 billion higher than forecast in May 2020 (initial projections), according to the March State Cash Report released recently by New York State Comptroller Thomas P. DiNapoli.
Total tax collections for SFY 2020-21 were $513.3 million lower than the previous year.
“The state’s year-end financial position was significantly better than anticipated,” DiNapoli said.
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“We face a long road to recovery, and the state’s economy still faces serious challenges, both in the short-term and long-term. Better-than-anticipated tax collections, federal resources and new revenues in the recently adopted budget allow for important investments in critical programs and servic ....

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Realism tempers govt's move on privatisation : The Tribune India


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Cautious approach: The Finance Minister’s statements indicate that there is no rush to privatise the public sector and the government prefers a nuanced view. PTI
Parsa Venkateshwar Rao Jr
Senior Journalist
Finance Minister Nirmala Sitharaman, in her reply to the insurance amendment Bill in Lok Sabha on March 22, explained that there were far more private players in the insurance sector and raising the limits of foreign investment from 49 to 74 per cent was meant to help these players. She said that the IPO (initial public offering) of Life Insurance Corporation (LIC) was meant for the Indian public to buy shares in it. ....

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