Page 19 - Latest Updates on Fiscal Deficit
Govt's fiscal deficit narrows to 6.4% of GDP for FY23, meets target
The fiscal deficit for the last financial year narrowed to 6.4% from a year earlier. It also met the budget gap target, aided by buoyant tax receipts and some fiscal headroom from lower payments
 "Govt's fiscal deficit narrows to 6.4% of GDP for FY23, meets target")
India's fiscal deficit target of 5.9% for FY24 at risk, warns Nomura
A notable increase in RBI's income, which was driven by profits from foreign exchange sales amounting to Rs 1 trillion, reflects active intervention in the foreign exchange market
 "India's fiscal deficit target of 5.9% for FY24 at risk, warns Nomura")
PM Modi urges states to maintain fiscal discipline, take prudent decisions
The Prime Minister urged the states to proactively use the Gati Shakti Portal not only for infrastructure and logistics but also for local area development and creation of social infrastructure
 "PM Modi urges states to maintain fiscal discipline, take prudent decisions")
Expect RBI to start rate cuts by end of FY24: HDFC Bank chief economist
Abheek Barua said that the Indian economy is expected to grow at 4.4% in the quarter ended March 31
 "Expect RBI to start rate cuts by end of FY24: HDFC Bank chief economist")
Fiscal deficit at 82.8% of Revised Estimates till February: Govt data
Total expenditure of Rs 34.93 trillion for April-February FY23 was 83.4 per cent of the RE
 "Fiscal deficit at 82.8% of Revised Estimates till February: Govt data")
Fiscal deficit touches 82.8% of full-year target in February: Govt data
Out of the total revenue expenditure, Rs 7,98,957 crore was for interest payments and Rs 4,59,547 crore was on account of major subsidies
 "Fiscal deficit touches 82.8% of full-year target in February: Govt data")
Fiscal slippage in FY23 likely as govt seeks to spend Rs 1.5 trillion more
The additional spending demands are led by fertiliser subsidy, defence pensions, allocation for Universal Service Obligation Fund (USOF) and GST compensation to states and UTs
 "Fiscal slippage in FY23 likely as govt seeks to spend Rs 1.5 trillion more")
FY23 fiscal deficit: FinMin starts daily monitoring of receipts, expenses
The finance ministry has started daily monitoring of the revenue receipts, including tax collections, as well as expenditure beginning March 1, with an aim to keep fiscal deficit in check
 "FY23 fiscal deficit: FinMin starts daily monitoring of receipts, expenses")
Centre to daily monitor revenue receipts, expenses to check fiscal deficit
From March 1 onwards, the finance ministry has begun monitoring of revenue receipts like tax collections and even expenses, to control fiscal deficit in the current fiscal
 "Centre to daily monitor revenue receipts, expenses to check fiscal deficit")
Centre's fiscal deficit widens to 67.8% of revised full-year target
Govt capex stays strong, 29% higher in 10 months of FY23
 "Centre's fiscal deficit widens to 67.8% of revised full-year target")
Apr-Jan fiscal deficit comes at $144.19 bn; touches 68% of full-year target
India aims to end the current fiscal year with a budget deficit of 6.4 per cent
Top headlines: Adani stcks remain in MSCI indices, TikTok fires India staff
Business Standard brings you the top headlines at this hour
 "Top headlines: Adani stcks remain in MSCI indices, TikTok fires India staff")
Rs 1.5-trn spending rationalisation helps govt meet FY23 deficit target
Without the expenditure rationalisation, the Revised Estimates (RE) for the Centre's total spending would have been about Rs 43.4 trillion instead of Rs 41.9 trillion
 "Rs 1.5-trn spending rationalisation helps govt meet FY23 deficit target")
How credible is path of improving quality of fiscal deficit going forward?
Centre's fiscal deficit is projected to come down to 5.9% of GDP next financial year from 6.4% in the current financial year
Govt to meet fiscal target in coming year, capex a longer shot, shows poll
A key government objective is to bring the deficit down to 4.5% of GDP by 2025/26. Respondents were evenly split on whether it would succeed
 "Govt to meet fiscal target in coming year, capex a longer shot, shows poll")
Budget proposals don't change our long-term preferences: Abhiram Eleswarapu
'Consensus forecasts call for a 16 per cent earnings compounded annual growth through FY25, with margin expansion baked in across most sectors', said Eleswarapu
 "Budget proposals don't change our long-term preferences: Abhiram Eleswarapu")
A growth-oriented Budget, says NSE MD & CEO Ashishkumar Chauhan
"The Budget would support growth and the Indian consumption story, and keep us in good stead, given headwinds in China and developed markets and until the rest of the world eases"
 "A growth-oriented Budget, says NSE MD & CEO Ashishkumar Chauhan")
Budget 2023: Many hits, few misses as Centre sticks to fiscal consolidation
The target of 5.9% is also likely to be met next year, finally bringing it down to below 4.5% of GDP in the financial year 2025-26
 "Budget 2023: Many hits, few misses as Centre sticks to fiscal consolidation")
Union Budget 2023-24: Marching ahead on a sustainable growth path
The biggest push came for the infrastructure sector, with a more than expected - i.e. 33 per cent - hike in capex that should boost private investment and spur employment generation
 "Union Budget 2023-24: Marching ahead on a sustainable growth path")
Fiscally prudent, but electorally savvy
In 2022-23, the finance minister hopes to grow her net revenue receipts by 8 per cent even as her revenue expenditure would increase by a similar rate
