02 nov 2001

exports slump 1.95% in h1
new delhi: indian exports dipped by 1.95 per cent during the first six months to 20.96 billion dollars and widened the trade deficit to $4.96 billion during the period despite a fall in oil imports.

exports during september 2001 also saw a decline by 8.61 per cent to $3.52 billion as against $3.85 billion during the same period last year.

exports during april-september, 2000 stood at $21.39 billion.
imports during april-september, 2001 are valued at $25.93 billion representing a growth of 1.81 per cent over the level of imports valued at $25.57 billion during the same period of previous year, according to official data released here on thursday.

01 nov 2001

fiscal deficit up 34 per cent in h1
new delhi: the union governments fiscal deficit at the end of the first six months of the current fiscal rose by more than 34 per cent to rs 57,262 crore from rs 42,592 crore during the corresponding period last year.

the deterioration in the fiscal position has been mainly on account of poor revenue realisation during april-september 2001-02. revenue receipts during the period amounted to rs 79,203 crore, down from rs 82,898 crore in the corresponding period last year. tax revenue (net) was down to rs 48,632 crore from rs 54,082 crore in the like period last year.

30 oct 2001

service tax on isps, paid websites
new delhi: internet service providers including vsnl and mtnl, would have to pay service tax from this fiscal even as government exempted websites offering free e-commerce service and cyber cafes from the new tax.
paid websites like indiainformer.com and ciionline.com, who charge customers for specific information and those who charge a fee for e-commerce transaction, have also been brought into the service tax net, central board of excise and customs clarified in a detailed guideline.
about 120 isps including vsnl, mtnl, satyam online, bharti, tata, rpg, hcl, wipro, bpl, mantraonline and dishnet providing access to websites through their network and dedicated lease lines would come under the tax net after the centre decided to extend service tax to "online information and database access and retrieval" and 14 other services.

go to finance diary index page