Gross Direct Tax collections register a growth of _______ to to Rs. 4,19,338 Crore for FY 2023-24?

8.73%

10.73%

12.73%

14.73%

Correct Answer : 12.73%

Gross Direct Tax collections for Financial Year 2023-24 till now have registered a growth of 12.73%. The figure stands at 4,19,338 crore rupees as compared to 3,71,982 crores in the corresponding period of the preceding financial year.

* Net collections are at 3,79,760 crores, showing a growth of 11.18%.

* Gross collections include Corporation Tax at 1,87,311 crore, and Personal Income Tax at 2,31,391 crore. Advance Tax collections for the first quarter of 2023-24 stand at 1,16,776 crores, showing a growth of 13.70%. Refunds amounting to 39,578 crores have also been issued in 2023-24 till now..

Source : AIR

Published On : June 19, 2023

Recent Updates in Indian Economy - General Knowledge Questions

Q .

What is the projected growth rate of the Indian economy for FY25 according to Deloitte?

6.5-6.8%

6.7-7.3%

7.0-7.5%

7.2-7.8%

Correct Answer : 6.5-6.8%

* Deloitte forecasts the Indian economy to grow at 6.5-6.8% in FY25, driven by strong domestic consumption, infrastructure development, and digitisation efforts.

* While challenges such as geopolitical tensions and global liquidity constraints may pose risks, India’s resilience in services, manufacturing exports, and stable capital markets provides a solid foundation for sustained economic growth.

Published On : December 31, 2024

Category : Indian Economy

Q .

What is India's projected real GDP growth rate for FY25 and FY26?

5.4%

5.5%

6.5%

6.7%

Correct Answer : 6.5%

India's projected real GDP growth rate for FY25 and FY26 is estimated at 6.5%, supported by robust economic fundamentals despite some recent challenges.

While Q2 FY25 GDP growth eased to 5.4% from 6.7% in Q1 FY25 due to factors like a decline in manufacturing PMI and a slowdown in private consumption, inflation trends show improvement with CPI falling to 5.5% in November. The 6.5% projection reflects optimism for sustained economic growth.

Published On : December 27, 2024

Category : Indian Economy

Q .

How much growth has India Ratings and Research projected for the Indian economy for the financial year 2025-26?

5.3%

5.7%

6.2%

6.6%

Correct Answer : 6.6%

* India Ratings and Research (Ind-Ra) has projected a growth of 6.6% for the Indian economy in financial year 2025-26 (FY26), higher than the 6.4% growth estimated in the current financial year (FY25)13.

* This growth is expected to be driven mainly by a significant increase in investments. Gross fixed capital formation (GFCF) is estimated to grow by 7.2%.