With barely two months remaining for the current fiscal to end, the direct tax collection is more than Rs 1,00,000 crore short of budget estimate but the government is hopeful of meeting the target despite economic slowdown affecting personal and corporate income.
India’s April-January direct tax receipts were up by a slower-than-expected 12.5 percent on-year, [...]

The Budget documents presented to Parliament comprise, besides the Finance Minister’s Budget Speech, of the following:
A. Annual Financial Statement (AFS)
B. Demand for Grants (DG)
C. Appropriation Bill
D. Finance Bill
E. Memorandum Explaining the Provisions in the Finance Bill, 2008
F. Macro-economic framework for the relevant financial year
G. Fiscal Policy Statement for the financial year
H. Medium Term Fiscal [...]