There will not be expenditure cut this year, SAYS Jaitley
New Delhi: Finance Minister Arun Jaitley on Tuesday said there will be no cut in budgeted public expenditure this year as revenue collections, especially indirect taxes, are buoyant. “So far, the indirect revenue till the month of October has significantly improved. Therefore, our ability to enhance public investment has improved...Our expenditure is going on planned lines and we don’t see any cut being made in the proposed expenditure this year,” he said. Indirect tax collections have registered an increase of almost 36 per cent in the first seven months of the current fiscal at Rs3.83 lakh crore on the back of a spurt in economic activity. With this, it has met 59.2 per cent of indirect tax target for the full fiscal. As per the Budget Estimate 2015-16, the government aims to collect Rs6.46 lakh crore from indirect taxes -- central excise, customs and service tax.
InterGlobe Aviation makes a dream debut, stock soars 15%
Mumbai: Shares of IndiGo’s parent InterGlobe Aviation made a remarkable debut on bourses on Tuesday, surging nearly 15 per cent, over the issue price of Rs765 per share. The stock listed at Rs856, a gain of 11.89 per cent, compared with the issue price on BSE. Intra-day, it soared 17.38 per cent to Rs898. It finally ended 14.83 per cent higher at Rs878.45. On NSE, the stock zoomed 14.67 per cent to Rs877.25 at close of trade.