Page 16 - Latest Updates on Fiscal Deficit
Govt likely to consolidate fiscal deficit to 5.9% of GDP in FY24: Goldman
The government aims to shrink the gap to below 4.5% of GDP by 2025-26
 "Govt likely to consolidate fiscal deficit to 5.9% of GDP in FY24: Goldman")
Higher nominal GDP likely to help govt meet fiscal deficit target
The leeway to the government was given by the first Advance Estimates, which pegged GDP at current prices at Rs 273 trillion for 2022-23 as against Rs 258 trillion assumed by the FY23 Budget
 "Higher nominal GDP likely to help govt meet fiscal deficit target")
How sustained 6.5% growth for the rest of the decade can be realistic
Growth beyond 6% can happen, but there are constraints on both fiscal and monetary policy, which must focus on reducing the current account deficit, the fiscal deficit and inflation, writes T N Ninan
Centre's fiscal deficit for April-November period at 58.9% of FY23 target
In fact, in November the fiscal deficit widened by Rs 2.2 trillion, the highest ever in any month this financial year
 "Centre's fiscal deficit for April-November period at 58.9% of FY23 target")
Fiscal deficit touches 59% of full-year target in November at Rs 9.78 trn
The government's fiscal deficit at the end of November touched 59 per cent of the full year budget estimate, according to data released by the Controller General of Accounts (CGA)
 "Fiscal deficit touches 59% of full-year target in November at Rs 9.78 trn")
Lessons in budgeting: Changing Budget tack amid changing realities
From an adventurous start in 2019 to modest revenue projections last year, there has been a marked change in Ms Sitharaman's approach. T N Ninan looks at what can be expected in Budget 2023
On track to meet FY23 fiscal deficit target, inflation within RBI band: FM
'We'll bring inflation down further for the sake of common people', said FM Nirmala Sitharaman
 "On track to meet FY23 fiscal deficit target, inflation within RBI band: FM")
Budget 2023: How technology may help achieve the impossible trinity
Experts have requested FM Sitharaman for a cut in income tax rates, increase in expenditure, and fiscal consolidation
 "Budget 2023: How technology may help achieve the impossible trinity")
Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget
This means the government will stick to its fiscal consolidation road map, which envisages a deficit of 4.5 per cent of GDP by FY26
 "Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget")
Govt on track to meet fiscal deficit target of 6.4% for current FY: Report
The central govt is on track to meet its fiscal deficit target of 6.4 per cent of the GDP for 2022-23 on the back of strong growth in revenue collections, the World Bank said
 "Govt on track to meet fiscal deficit target of 6.4% for current FY: Report")
Top Headlines: Tax benefits to SEZs, Parliament's winter session and more
Business Standard brings you the top headlines at this hour
 "Top Headlines: Tax benefits to SEZs, Parliament's winter session and more")
Centre still hopeful on 6.4% fiscal deficit on back of tax revenue gains
The net tax revenue budget estimate for FY23 was Rs 19.35 trillion; a boost of Rs 4.5 trillion would take the revised estimates to Rs 23.85 trillion
Centre's fiscal deficit touches 45.6% of Budget target till October
With the GDP numbers out, the deficit stood at 4.7 per cent of GDP in the first six months of FY23
 "Centre's fiscal deficit touches 45.6% of Budget target till October")
Budget 2023-24: Stay on fiscal glide path, economists advise FM Sitharaman
The Finance Ministry was also urged to continue with long term loans to states to support their capex programs, and give them more leeway to spend, in order to boost growth
 "Budget 2023-24: Stay on fiscal glide path, economists advise FM Sitharaman")
Demand for musical instruments up; Chennai, Kolkata rank as top exporters
India exported $22 million worth of musical instruments and their accessories in the first half of the current fiscal year, as compared to $38.5 million in the previous year
 "Demand for musical instruments up; Chennai, Kolkata rank as top exporters")
Centre confident of meeting fiscal deficit target for FY23: Report
Centre expects the gross tax revenue to be "at least" Rs 3-3.5 trillion above the FY23 target of Rs 27.6 trillion
 "Centre confident of meeting fiscal deficit target for FY23: Report")
India's CAD pegged at 3-3.2% of GDP in FY23: CEA V Anantha Nageswaran
'India's annual import cover comfortable; IMF does not consider external sector to be in a zone of vulnerability'
 "India's CAD pegged at 3-3.2% of GDP in FY23: CEA V Anantha Nageswaran")
Abolish exemptions
Instead of reducing tax rates, Budget 2023 should take steps to reverse the decline in tax buoyancy
 "Abolish exemptions")
Best of BS Opinion: Voting against self-interest, fiscal deficit, and more
Here is the best of Business Standard's opinion pieces for today:
 "Best of BS Opinion: Voting against self-interest, fiscal deficit, and more")
Something deficient in fiscal deficit
GDP alone isn't an adequate measure to calculate a safe level of budget deficit. Population also has to be worked into the method. It is just common sense