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The great Indian tax paradox: Can the tax mop-up keep its pace in the current fiscal?

The great Indian tax paradox: Can the tax mop-up keep its pace in the current fiscal?
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The great Indian tax paradox: Can the tax mop-up keep its pace in the current fiscal?By
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Synopsis
Augmenting tax collection is critical. If the pandemic continues, pro-poor schemes will need more resources. Ramping up the heath infrastructure to prepare for a third wave will also need money.
Agencies
Taxes collected from smaller firms are recorded in the personal income tax category alongside those from individual taxpayers.
Simple financial wisdom would tell you when an economy shrinks, tax collection falters. When the contraction is unprecedented amid a crushing global pandemic, the fallout on tax revenue should be devastating. But India bucked this trend in the last fiscal year. In the Covid-hit, bruised FY 2020-21, the central government mopped up an additional tax revenue of Rs 67,133 crore, a 4.9% rise y-o-y, according to data release ....

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stock market analysis: Ahead of Market: 12 things that will decide stock action on Wednesday

Synopsis
Analysts expect volatility to remain high in the coming two sessions as the January derivatives contracts are scheduled to expire on Thursday.
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NEW DELHI: Nifty had a gap-up opening on Monday but ended up shedding almost a per cent in intraday trade. The headline index formed a long bearish candle on the daily charts as the 50 pack continued it s losing streak in the third consecutive session.
Analysts expect volatility to remain high in the coming two sessions as the January derivatives contracts are scheduled to expire on Thursday.
Rohit Singre, Senior Technical Analyst at LKP Securities said: The index has breached all good support which means if the index manages to sustain below today’s (Monday’s) low, then the index may hit 14,000 mark soon which is a strong support on the downside. On the higher side, the index found good resistance in the 14350-14440 zone and it would be the profit booking level for longs. ....

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