Page 10 - Latest Updates on Fiscal Deficit
India's new govt will be spoilt for choice with $25 bn extra in kitty
On Wednesday, the RBI announced a record Rs 2.11 trillion dividend transfer to the government
 "India's new govt will be spoilt for choice with $25 bn extra in kitty")
RBI's surplus transfer sparks hope for reduced govt borrowing by Rs 1 trn
Bond market participants are now focusing on the monetary policy meeting in June to assess the central bank's liquidity stance
 "RBI's surplus transfer sparks hope for reduced govt borrowing by Rs 1 trn")
Fiscal bonanza
RBI transfer should be used for fiscal consolidation
 "Fiscal bonanza")
India to get rating support if it uses RBI dividend to reduce deficit: S&P
The interim budget presented in Parliament earlier in the year targets a fiscal deficit of 5.1 per cent of the GDP
Bumper RBI dividend of Rs 2.11 trillion to give govt more fiscal room
Economists said that the government may not need much borrowing because of the highest-ever transfer of surplus to the government
Will stock market crash if BJP gets less than 270 seats in Lok Sabha polls?
In the worst case scenario where the NDA is unable to secure a majority (seats less than 272), analysts at Bernstein expect 'heavy profit booking' in the markets with low or negligible returns
 "Will stock market crash if BJP gets less than 270 seats in Lok Sabha polls?")
India's fiscal deficit for FY24 likely to be better than expected
Govt capex for the last financial year also in line with projections, say sources
 "India's fiscal deficit for FY24 likely to be better than expected")
FY24 fiscal deficit seen slightly better than projected Rs 17.4 trn: Report
India's income tax receipts rose 17.7% year-on-year to nearly $235 billion in 2023/24, higher than government's projection
 "FY24 fiscal deficit seen slightly better than projected Rs 17.4 trn: Report")
India's oil import bill could swell to $101-104 billion in FY25: ICRA
A $10 per barrel uptick in average crude oil price for this fiscal pushes up the net oil imports by $12-13 billion during the year, according to ICRA
 "India's oil import bill could swell to $101-104 billion in FY25: ICRA")
States fiscal deficits for FY24 likely to be close to 3.1% of GDP: Citi
The report suggests grants from Centre to states have been falling due to no GST compensation funds and lower finance commission grants
 "States fiscal deficits for FY24 likely to be close to 3.1% of GDP: Citi")
Creating adequate fiscal space important to give impetus to growth: Kovind
Now there are fewer tax slabs, processes have been streamlined. taxation policy has become more predictable and investor confidence improved while ease of doing business has enhanced, he said
 "Creating adequate fiscal space important to give impetus to growth: Kovind")
Kerala paid Rs 26,000 cr in March to various sectors: State FM Balagopal
He said the state government effectively intervened to manage the financial crisis and an interim application on the borrowing limit and other matters are pending before the Supreme Court
 "Kerala paid Rs 26,000 cr in March to various sectors: State FM Balagopal")
India's Apr-Feb fiscal deficit at Rs 15.01 trn, hits 86.5% of FY24 target
The Centre's fiscal deficit is estimated at Rs 17.34 trillion for FY24
Fiscal deficit at Feb-end touches 86.5% of full-year target: Govt data
In the corresponding period last year, the fiscal deficit -- or gap between the expenditure and revenue -- was 82.8 per cent of Revised Estimates (RE) of the Union Budget 2022-23
 "Fiscal deficit at Feb-end touches 86.5% of full-year target: Govt data")
Inflationary pressure
Fiscal expansion increased inflation in the developed world
 "Inflationary pressure")
India's exports may reach $450 bn this fiscal: FIEO Prez Ashwani Kumar
He also said that despite issues, exports rose about 12 per cent in February to $41.40 billion. During April-February 2023-24, exports reached $395 billion
 "India's exports may reach $450 bn this fiscal: FIEO Prez Ashwani Kumar")
Significant ramp up in capacities to help achieve $40 bn exports target
Steps such as significant ramp up in production capacities, and skilling of workforce will help achieve $40 billion garment exports target by 2030
 "Significant ramp up in capacities to help achieve $40 bn exports target")
US Senate approves $460 billion funding package, avoiding shutdown
The Senate voted 75 to 22 on Friday evening to approve the package, negotiated by congressional leaders from both parties. The House overwhelmingly passed it earlier this week
 "US Senate approves $460 billion funding package, avoiding shutdown")
At Rs 11 trillion, fiscal deficit narrows to 64% of revised estimates
Both revenue and capital expenditure for the April-January FY2024 period was around 75 per cent
 "At Rs 11 trillion, fiscal deficit narrows to 64% of revised estimates")
Fiscal deficit at Jan-end touches 63.6% of full year target: Govt data
In the corresponding period last year, the fiscal deficit or gap between the expenditure and revenue was 67.8 per cent of Revised Estimates (RE) of the Union Budget 2022-23