Page 17 - Latest Updates on Fiscal Deficit
Govt plans to raise capital spending as much as 20% in FY25: Report
The government is trying to raise capital spending on building infrastructure to as much as Rs 12 trillion ($144.59 billion) from the current year's plan of Rs 10 trillion
 "Govt plans to raise capital spending as much as 20% in FY25: Report")
Interim Budget 2024-25 likely to set nominal GDP growth at 10-10.5%
Govt may finalise FY25 Interim Budget assumption this week
 "Interim Budget 2024-25 likely to set nominal GDP growth at 10-10.5%")
Centre expected to maintain fiscal discipline in Interim Budget 2024
Interim budget likely to prioritise fiscal consolidation over populist spending, anticipating fiscal deficit at 4.5% of GDP by FY26
 "Centre expected to maintain fiscal discipline in Interim Budget 2024")
Ind-Ra ups FY24 GDP growth estimate to 6.7%, warns of fiscal challenges
On inflation, the Ind-Ra report said it expects retail inflation to cool off to 5.1 per cent and 4.7 per cent, respectively, in the third and fourth quarter of this fiscal, respectively
 "Ind-Ra ups FY24 GDP growth estimate to 6.7%, warns of fiscal challenges")
Union Budget 2024: 10 terms to boost the know-how of key financial exercise
The Union Budget, laid out on February 1 annually, is the financial roadmap that shapes the country's economy. Here are 10 key Budget terms for better insights into the key financial exercise
 "Union Budget 2024: 10 terms to boost the know-how of key financial exercise")
States' indicative borrowing for fourth quarter higher than forecast
The government transferred the amount to states as tax devolution for financing various social welfare measures and infrastructure development schemes
 "States' indicative borrowing for fourth quarter higher than forecast")
Fiscal deficit contained at 50.7% of FY24 budget estimate in Apr-Nov
The Government, CGA data indicates, is moving towards fiscal consolidation, with improved tax collections compared to the April-October period and compressed capital expenditure
 "Fiscal deficit contained at 50.7% of FY24 budget estimate in Apr-Nov")
Fiscal deficit for Apr-Nov narrows to 50.7% at Rs 9.07 trillion: Govt
Earlier this month, finance minister for state Bhagwat Karad said that the Centre was confident of meeting the fiscal deficit target of 5.9% in FY24
 "Fiscal deficit for Apr-Nov narrows to 50.7% at Rs 9.07 trillion: Govt")
High indebted Punjab, Himachal may breach BE of fiscal deficit in FY24
Punjab had over 40% debt as a proportion of GSDP in 2019-20 too, while Himachal Pradesh had 39.1%
HP fiscal deficit may rise to be 5.82 pc of SGDP due to higher liabilities
The government has assured to bring down the deficit by curtailing expenditure and resource mobilisation
RBI to conduct VRR auction again as liquidity deficit widens to Rs 2.3 trn
The market speculated a total of around Rs 4 trillion worth of outflows because of advanced tax and GST payments in December
 "RBI to conduct VRR auction again as liquidity deficit widens to Rs 2.3 trn")
Positive outlook
High public debt remains a risk
 "Positive outlook")
Gross fiscal deficit of Centre, states stays under 7% of GDP: RBI article
Lower disinvestment receipts are likely to be offset by sharp gains in non-tax revenues, mainly attributable to higher dividends from the Reserve Bank and other financial institutions
 "Gross fiscal deficit of Centre, states stays under 7% of GDP: RBI article")
Centre says likely to achieve fiscal deficit target of 5.9% of GDP in FY24
India's fiscal deficit in the first seven months of the financial year ending on March 31, 2024 was 8.04 trillion Indian rupees ($96.86 billion), or 45% of the estimate for the whole year
 "Centre says likely to achieve fiscal deficit target of 5.9% of GDP in FY24")
Augmenting fiscal capabilities
Quality of expenditure should sway fiscal transfers
RBI cautions states with over 4% fiscal deficit, urges tax reforms
Says returning to OPS would put substantial burden on finances
 "RBI cautions states with over 4% fiscal deficit, urges tax reforms")
Govt limits additional spending to Rs 58,378 crore, eyes fiscal prudence
The government has set a fiscal deficit target of 5.9 per cent of GDP for FY24
 "Govt limits additional spending to Rs 58,378 crore, eyes fiscal prudence")
Nine states, 2 UTs see rising fiscal deficits post-pandemic: PHDCCI report
"States are classified as resilient if their fiscal deficit as a percentage of GSDP has decreased from the pre-pandemic to the post-pandemic period," the report says
 "Nine states, 2 UTs see rising fiscal deficits post-pandemic: PHDCCI report")
India's fiscal deficit between Apr-Oct 45% of FY24 target of Rs 17.87 trn
Between April and October this year, the fiscal deficit was recorded at Rs 8.04 trillion as compared to Rs 7.57 trillion in the same period last year
Israeli 'Government CFO' managing $48 billion fiscal shock of Gaza war
The war, which the Finance Ministry estimates is costing the economy around $270 million every day, will come with a fiscal price tag estimated at 180 billion shekels ($48 billion) in 2023-2024
 "Israeli 'Government CFO' managing $48 billion fiscal shock of Gaza war")