Indices
Coal 2022: Analysis and forecast to 2025
- It is an annual report of International Energy Agency (IEA) which offers a thorough analysis of recent trends in coal demand, supply, trade, costs and prices.
Key highlights
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- Global coal use is set to rise by 1.2% in 2022, surpassing 8 billion tonnes in a single year for the first time.
- India, along with China, is world’s largest coal producer, consumer and importer. India’s coal production will surpass a billion tonnes by 2025 and will surpass China.
- Its coal consumption has doubled since 2007 at an annual growth rate of 6%.
About IEA
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- Formation – 1974
- Members – 31 (India not a member)
- Headquarters – Paris, France
Recent Economic Trends
India’s direct tax collection grows 26% to ₹13.63 lakh cr for FY23
- According to the Income Tax Department of India, India’s gross direct tax collections for the financial year 2022-23 have registered a growth of 25.90%.
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- The gross collection stands at ₹13,63,649 crore as of 17 December 2022. Last year, in the corresponding period it was at ₹10,83,150 crore.
- The Budget had estimated a direct tax collection of ₹14.20 lakh crore this financial year, higher than the ₹14.10 lakh crore collected last fiscal (2021-22).
- The largest share in Net Direct Tax collection is of Corporation Tax then Personal Income Tax (PIT) including Security Transaction Tax (STT) constitutes the rest.
Note
- A direct tax is a tax that a person or organization pays directly to the entity that imposed it. Example: income tax, real property tax, personal property tax, or taxes on assets.
