competition success review

competition success review

competition success review Published this article page no  96 Increase in borrowing limits The borrowing limits of state governments will be increased to 5% of Gross State Domestic Product (GSDP) from 3% (prescribed in Fiscal Responsibility and Budget Management (FRBM) Act) for the year 202021. o This is estimated to give states extra resources of Rs 4.28 lakh crore. o There will be unconditional increase of up to 3.5% of GSDP followed by 0.25% increase linked to reforms on  universalisation of One Nation One Ration card Ease of Doing Business power distribution and Urban Local Body revenues. o Further there will be an increase of 0.5% if three out of four reforms are achieved. Taxation measures announced to ease the liquidity situation  Tax Deducted at Source (TDS) Tax Collected at Source (TCS) rate reduction o This measure aims to increase liquidity (estimated at Rs. 50000 crore) by indirectly increasing the inhand income. o Implementation methodology  The rates of TDS (for nonsalaried specified payments made to residents) and rates of TCS (for the specified receipts) shall be reduced by 25% of the existing rates.  This reduction shall be applicable for the remaining part of the FY 202021 i.e. upto 31st March 2021 competition success review buy. 

competition success review