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Indian Express
6 days ago
- Business
- Indian Express
Centre's FY25 net tax collections miss revised estimate by over Rs 58,000 crore
The central government missed its revised estimate for net tax collections, which includes direct and indirect taxes, for 2024-25 by Rs 58,075 crore, data released by the Controller General of Accounts (CGA) on Friday showed. As per the data, the Indian government collected Rs 24.99 lakh crore as net taxes in the last fiscal, 2.3 per cent lower than the revised estimate of Rs 25.57 lakh crore. However, compared to the previous year, the net tax collected by the Centre in FY25 was up 7.4 per cent. The miss in the net tax collections – which is the tax accruing to the Centre after paying states their share from the gross tax revenue – was led by a Rs 9,747 crore shortfall in the excise mop-up, which came in at Rs 3 lakh crore as against the revised estimate of Rs 3.10 lakh crore. Direct taxes – which include corporate tax, personal income tax, and Securities Transaction Tax, among others – were around Rs 6,500 crore less than anticipated at Rs 22.30 lakh crore even though corporate tax collections exceeded the revised estimate by Rs 6,767 crore in FY25. Personal income tax collections, inclusive of Securities Transaction Tax and other taxes, were around Rs 13,000 crore lower than the revised estimate, while the customs duty mop-up was Rs 2,104 crore lower at Rs 2.33 lakh crore. Fiscal deficit target met Despite the miss in net tax collections, the Centre met its fiscal deficit target of 4.8 per cent of GDP for the year ended March 2025, with total expenditure during the year 1.3 per cent lower than the revised estimate of Rs 47.16 lakh crore. The fall in expenditure during the year was because of a 2.6 per cent reduction in revenue expenditure, while capital expenditure exceeded the revised estimate of Rs 10.18 lakh crore by Rs 33,578 crore. The government's capex picked up pace in the last four months of FY25 after a slow start in the beginning of the year that had made the government revise down the target. It had initially budgeted the capital expenditure for FY25 at Rs 11.11 lakh crore. Higher-than-expected non-tax revenues also helped the Centre achieve the FY25 fiscal deficit target. At Rs 5.38 lakh crore, the Centre's non-tax revenues were Rs 6,544 crore higher than the revised estimate. Finances for April 2025 The CGA on Friday also released data on the central government's finances for April 2025, which showed that capex in the first month of the new fiscal stood at Rs 1.60 lakh crore, up 61 per cent on year, accounting for 14.3 per cent of the full-year target of Rs 11.21 lakh crore. The Indian government's capex had got off to a slow start last fiscal due to the general elections, amounting to Rs 1.81 lakh crore in the first quarter – just Rs 21,261 crore more than what the Centre spent in April 2025 alone. The fiscal deficit for April stood at Rs 1.86 lakh crore as against the budget estimate of Rs 15.69 lakh crore for FY26. As a percentage of GDP, the Centre is targeting a fiscal deficit of 4.4 per cent for the current fiscal. The Reserve Bank of India's (RBI) record dividend of Rs 2.69 lakh crore for FY25, transferred to the government earlier this week, is likely to show the Centre's finances in a very healthy state when data for May is released at the end of June. The RBI's dividend makes up much of the Centre's non-tax revenues, with the government having estimated in February 2025 that it would get Rs 2.56 lakh crore as dividend from the central bank and public financial institutions this year. The budget estimate for non-tax revenue for the current fiscal is Rs 5.83 lakh crore.
Hans India
21-05-2025
- Business
- Hans India
Resolute to be enabler and contributor to FM Sitharaman's vision and mission: NSE CEO
New Delhi: Ashish Kumar Chauhan, MD and CEO of the National Stock Exchange (NSE), on Wednesday met Union Finance Minister Nirmala Sitharaman, saying that the exchange is resolute to be an enabler and contributor to her vision and mission. In a post on social media platform X, Chauhan lauded FM Sitharaman's steadfast leadership, resolve and commitment towards the goal of 'Viksit Bharat'. "Thank you for your time, Hon'ble FM @nsitharaman. Your steadfast leadership, resolve and commitment unto Viksit Bharat 2047 under PM @narendramodi inspires us all," he posted. He further stated that "We @NSEIndia are resolute to be an enabler and contributor to your vision and mission". The NSE CEO was reacting to an X post by Nirmala Sitharaman Office, which said: 'Ashish Kumar Chauhan, MD and CEO @NSEIndia, calls on Smt @nsitharaman'. Last week, the NSE became the largest unlisted company in India with over 100,000 shareholders. This makes the NSE one of the few entities in the country to have such a vast number of investors as not many listed companies in India have managed to achieve the same level of shareholder base. The impressive growth in the number of shareholders reflects strong investor interest in the exchange, which continues to play a key role in the country's financial ecosystem. The NSE has consistently attracted attention due to its pivotal position in India's securities market, being a major platform for trading in equities, derivatives, and other financial products. For the financial year ending March 31 (FY25), the NSE reported a 17 per cent year-on-year (YoY) increase in consolidated total income, reaching Rs 19,177 crore. Net profit for the fiscal rose by an impressive 47 per cent to Rs 12,188 crore, according to its filing. Notably, the exchange contributed Rs 59,798 crore to the Indian exchequer in FY25 through various levies, including Securities Transaction Tax (STT), stamp duty, SEBI fees, income tax, and GST.
India.com
15-05-2025
- Business
- India.com
NSE Becomes Indias Largest Unlisted Firm With Over 1 Lakh Shareholders
Mumbai: The National Stock Exchange of India (NSE) has reached a significant milestone, becoming the largest unlisted company in India with over 100,000 shareholders, according to latest industry data. This makes the NSE one of the few entities in the country to have such a vast number of investors as not many listed companies in India have managed to achieve the same level of shareholder base. The impressive growth in the number of shareholders reflects strong investor interest in the exchange, which continues to play a key role in the country's financial ecosystem. The NSE has consistently attracted attention due to its pivotal position in India's securities market, being a major platform for trading in equities, derivatives, and other financial products. Meanwhile, for the financial year ending March 31 (FY25), the NSE reported a 17 per cent year-on-year (YoY) increase in consolidated total income, reaching Rs 19,177 crore. Net profit for the fiscal rose by an impressive 47 per cent to Rs 12,188 crore, according to its filing. Earnings per share also jumped to Rs 49.24 from Rs 33.56 in the previous financial year, factoring in the issuance of bonus equity shares in a 4:1 ratio. The Board of Directors recommended a final dividend of Rs 35 per equity share, which includes a special one-time dividend of Rs 11.46, the company said in its filing. Additionally, the NSE contributed Rs 59,798 crore to the Indian exchequer in FY25 through various levies including Securities Transaction Tax (STT), stamp duty, SEBI fees, income tax, and GST. Additionally, the exchange recently clarified it has not approached the government regarding its long-pending IPO, amid speculation of regulatory hurdles. Denying media reports, the NSE stated that there has been no correspondence with the government in the past 30 months concerning its IPO. It reaffirmed its commitment to regulatory compliance and strong corporate governance.
Hans India
15-05-2025
- Business
- Hans India
NSE becomes India's largest unlisted firm with over 1 lakh shareholders
The National Stock Exchange of India (NSE) has reached a significant milestone, becoming the largest unlisted company in India with over 100,000 shareholders, according to latest industry data. This makes the NSE one of the few entities in the country to have such a vast number of investors as not many listed companies in India have managed to achieve the same level of shareholder base. The impressive growth in the number of shareholders reflects strong investor interest in the exchange, which continues to play a key role in the country's financial ecosystem. The NSE has consistently attracted attention due to its pivotal position in India's securities market, being a major platform for trading in equities, derivatives, and other financial products. Meanwhile, for the financial year ending March 31 (FY25), the NSE reported a 17 per cent year-on-year (YoY) increase in consolidated total income, reaching Rs 19,177 crore. Net profit for the fiscal rose by an impressive 47 per cent to Rs 12,188 crore, according to its filing. Earnings per share also jumped to Rs 49.24 from Rs 33.56 in the previous financial year, factoring in the issuance of bonus equity shares in a 4:1 ratio. The Board of Directors recommended a final dividend of Rs 35 per equity share, which includes a special one-time dividend of Rs 11.46, the company said in its filing. Additionally, the NSE contributed Rs 59,798 crore to the Indian exchequer in FY25 through various levies including Securities Transaction Tax (STT), stamp duty, SEBI fees, income tax, and GST. Additionally, the exchange recently clarified it has not approached the government regarding its long-pending IPO, amid speculation of regulatory hurdles. Denying media reports, the NSE stated that there has been no correspondence with the government in the past 30 months concerning its IPO. It reaffirmed its commitment to regulatory compliance and strong corporate governance.
Economic Times
14-05-2025
- Business
- Economic Times
Brokers nudge investors to park idle cash in Liquid ETFs
These ETFs primarily invest in overnight instruments like tri-party repo on government securities, treasury bills and reverse repos, making them relatively low-risk and high on liquidity. The growing popularity of liquid ETFs has prompted a flurry of new launches, especially by various brokers and financial services firms such as Angel, Mirae, Groww, Shriram, Bajaj Finserv and Zerodha. Most of these firms have both stock broking and mutual fund arms. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Brokers are increasingly steering clients towards liquid exchange-traded funds (ETFs) to keep idle cash within their systems. Current regulations require brokers to transfer unutilised client funds back to their bank accounts at the end of every month. By encouraging investors to park this money in liquid ETFs - which trade like shares - brokers are able to avoid fund outflows and retain assets on their platforms. Over the last year, assets under management in liquid ETFs have risen 31%, from ₹17,200 crore to ₹23,550 growing popularity of liquid ETFs has prompted a flurry of new launches, especially by various brokers and financial services firms such as Angel, Mirae, Groww, Shriram, Bajaj Finserv and Zerodha. Most of these firms have both stock broking and mutual fund pitch is simple: Instead of transferring the share sale proceeds back to bank accounts - and then back to the broker account later - investors can now park the funds in liquid ETFs."As liquid ETFs trade in the same segment as equity, investors can seamlessly move from equity to cash and vice versa or even pledge as collateral for margin to the exchange," says Vishal Jain, chief executive officer, Zerodha Mutual Fund. For investors, this idle money can generate returns of 4-6%, higher than typical savings bank account Nifty 1D Liquid ETF, which has assets under management of ₹4,960 crore, has seen its average daily traded value on NSE rise nearly four-fold over the past year. Between February 1 and April 30, 2025, the average daily traded value stood at ₹109 crore, with the average trade size being ₹1.2 lakh. During the same period last year, the average daily volume was ₹28 crore, with the average trade size at ₹1.4 a debt product, liquid ETFs are not subject to Securities Transaction Tax (STT). To further boost appeal, many brokers have waived brokerage charges on the buying and selling of these ETFs."In an era of increasing competition, brokers need to generate higher returns for investors," says Piyush Chandra, head - mutual funds at IIFL Capital. "This product generates some return, rather than money lying idle in the ledger."These ETFs primarily invest in overnight instruments like tri-party repo on government securities, treasury bills and reverse repos, making them relatively low-risk and high on liquidity.
