It is hardly surprising that projected fiscal deficit for 2017-2018 has overshot by 112 per cent of the Budget estimate at the end of November 2017 itself. Had government implemented GST from April 1, 2017, and taken this decision before presenting the Union Budget, there would have been a Budget estimate for GST. This would have enabled the government to carefully estimate GST collection. Second, GST budget estimate could not be worked out by the day the budget was presented. This created further complications in working out an estimated receipt of indirect tax revenue under three heads (CE, ST, GST) from July 2017.

Source: dna January 04, 2018 02:48 UTC