Sept qtr corp advance tax seen up 15 pct

Latest business news india : India's corporate advance tax in the September quarter is expected to rise 14.7 percent to 440.10 billion rupees ($9.14 billion), a finance ministry official said on Monday, adding it is expected to see better growth in the December quarter.

Corporate advance tax had fallen 3.7 percent in the June quarter, the official, who declined to be named, told reporters.

Source url: http://in.reuters.com/article/businessNews/idINIndia-42616720090922

New challenges put reforms

According to India Top News Rising food prices and a possible drought. Swine flu and a damaging corporate war. Even a diplomatic setback with rivals Pakistan.

Three months into office, India's ruling coalition is besieged by a slew of crises, undercutting the momentum from a resounding election victory and making it harder to carry through bold promises of policy change and economic reforms.

"The government is on the back foot. Its priorities have to shift to giving relief from the drought and high food prices," said V.K. Sharma, head of research at Anagram Stock Broking.

"In this situation policymaking can take a backseat and any spending to cushion the farm sector from the drought will widen the (fiscal) deficit. All the talk about a clear election mandate allowing the government a freer hand is now gone.

Read More: http://in.reuters.com/article/topNews/idINIndia-41843920090819