The Budget Session of Parliament is likely to begin on January 31 and is expected to conclude on April 6 with a recess in between, reported ANI news agency citing government sources on Monday.
A five-judge Constitution bench headed by Justice S A Nazeer, which upheld the Centre's 2016 demonetisation of Rs 1,000 and Rs 500 currency notes by a 4:1 majority verdict, said a statute must be construed having regard to the legislative intent.
India will not be able to choose its policy stance in 2023; it will have to react to a very volatile global situation. In a best-case scenario, growth could zoom to 7%. In a worst-case scenario, it could sink to half that.
Inflation: The worst of price pressures seems to be behind both the global and the domestic economy. RBI's forecast for the first half of 2023-24 is roughly 5.2% compared to 6.25% for the second half of 2022-23. A global slowdown has taken the sheen off most commodity prices - oil is perhaps the most stable of the lot - and this is likely to continue.
The rupee closed 2022 at 82.61 to the US dollar, down from 74.29 at end of 2021 as the US currency headed for its biggest yearly gain since 2015.The Indian unit, however, fared better than some other global currencies like the Turkish Lira and British Pound.
Net corporate tax collection in 2021-2022 stood at Rs 7.12 lakh crore, which works out to 3.01% in terms of the ratio to GDP. At current market price, the collections stood at Rs 236.64 lakh crore.