Five percent increase in tax collection, government raised revenue of Rs 16.32 lakh crore
During the last financial year, the net tax collection of the government has increased by five percent. In a written reply to the Lok Sabha, Finance Minister Nirmala Sitharaman said that during the financial year 2020-21, the total tax collection including direct and indirect taxes increased by about five percent to Rs 14.24 lakh crore. During the previous financial year, it was Rs 13.56 lakh crore. The Finance Minister said that the government has taken several steps to strengthen direct and indirect tax collection. These include measures like curbing tax evasion, expanding the tax base, reducing litigation and promoting digital transactions.
However, non-tax revenue declined by 36 percent to Rs 2.08 lakh crore during the last financial year. In the last financial year, the government had reduced to Rs 3.27 lakh crore in this head. The tax and non-tax revenue of the government fell by 3.09 per cent to Rs 16.32 crore during the last financial year. In response to another question, Sitharaman said that in 366 cases related to violation of Corporate Social Responsibility (CSR) rules under the Companies Act.
Under the Companies Act, companies with profits above a certain limit are required to spend two per cent of the average net profit of the last three years on CSR head. Its violation has been included in the category of offence from January 22 this year.
EPFO invests Rs 7,715 crore in shares
The Employees’ Provident Fund Organization (EPFO) has invested Rs 7,715 crore in shares in the April-June quarter this year. This information was given by the Minister of State for Labor and Employment, Rameshwar Teli in the Lok Sabha on Monday. However, he added that the EPFO does not invest in any particular stock, but only in Exchange Traded Funds (ETFs) through ETF manufacturers (SBI-Mutual Fund and UTI-Mutual Fund). As per the rules approved by the Board of Trustees of EPF and notified by the government, the EPFO can invest a maximum of 15 per cent in shares.
NHAI raised more than three lakh crores
The total amount raised by the National Highways Authority of India (NHAI) has reached Rs 3,06,704 crore at the end of March this year. Giving this information to Rajya Sabha, Road Transport and Highways Minister Nitin Gadkari said that during the last financial year, NHAI has paid interest of Rs 18,840 crore. He also informed that 140 cases of arbitration are going on in various tribunals. Of these, contractors have made claims of Rs 91,875.70 crore and NHAI Rs 44,600 crore.