What are the factors that determine india's economic growth?
Collections of the corporate, income and indirect taxes in the first half of 2006-07 have shown an increase of 32 per cent over those of 2005-06 (from Rs 89,678 crore to Rs 118,270 crore -- Rs 896.78 billion to Rs 1,182.70 billion). The whopping 67 per cent rise in the corporate tax (from Rs 13,258 crore -- Rs 132.58 billion -- in 2005-06 to Rs 22,587 crore -- Rs 225.87 billion -- in 2006-07) and the growth in the proportion of direct taxes (from 32 per cent to 36 per cent of the total) are indicative of the buoyancy as well as vibrancy of the economy.
There has been a more than 30 per cent spurt in corporate earnings in the quarter ending June 2006, compared to the same slot the previous year. For the eleventh straight week since July 24, the Sensex has pointed northward at the close of the day's transactions. The GDP growth of 8.9 per cent in the first quarter is taken by many observers to hold the promise of e ...more