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The annual financial statement of India for the fiscal year 2016–2017, presented by Finance Minister Arun Jaitley on 29 February 2016. It included proposals for direct and indirect taxes, allocations for various sectors, and reactions from opposition and media.
Learn about the history, administration and current law of income tax in India, a key source of government funding. Find out how income tax evolved from ancient times to the present day, and how it is governed by the Income-tax Act, 1961 and other laws.
Dearness Allowance (DA) is a compensation for inflation paid to some Indian government and private sector employees and pensioners. Learn about its history, calculation, formula, and impact on Consumer Price Index.
Net Profit of all 257 operating CPSEs during 2016-17 stood at ₹ 1,27,602 crore compared to ₹ 1,14,239 crore during 2015-16 showing growth of 11.70%, [14] while Loss of loss incurring CPSEs minimized to ₹ 25,045 crore in 2016-17 compared to ₹ 30,759 crore in 2015-16 showing a decrease in loss by 18.58%. [15]
A consumer price index (CPI) is a price index that measures the average change in prices of a basket of consumer goods and services over time. It is used to track inflation and compare the cost of living across countries.
Learn about the fiscal legislation enacted by the Indian Parliament to give effect to the financial proposals of the Central Government. Find out the important elements, direct taxes, and amendments of the Finance Act for each year.
Value-added tax (VAT) is a consumption tax levied on the value added at each stage of a product's production and distribution. Learn how VAT works, its history, implementation, incentives, refunds, imports, and comparison with income tax and sales tax.
Discounting is a mechanism in finance that allows a debtor to delay payments to a creditor in exchange for a fee. The fee is based on the discount rate, which is the rate of return the creditor could earn on a similar investment. Learn how to calculate the present value and the discount factor of future cash flows.