The Indian rupee snapped its five-day winning streak to finish 11 paise lower at 71.02 against the US dollar on Thursday (October 24, 2019), weighed by unabated foreign fund outflows and a weak trend in domestic equity markets
Direct Tax growth has been slumping to 3.5% up to mid-October 2019 from the same period in the earlier financial year, as against the Budget target of 17.3%.
A combination of factors is responsible. This includes a deepening of the general economic slowdown and corporation tax cuts. Collection will have to rise by 30% in the remaining period of the financial year to achieve the Budget estimate.
Coal production from captive mines in the first half of the FY20 have increased by 25.5% year-on-year (y-o-y) to 26.1 million tonnes over the corresponding period in FY19.
According to provisional data submitted by the coal controllers’ organisation, coal blocks reallocated since 2015 increased their production by 33% y-o-y to 12.9 million tonnes in the April-September period.