Page 37 - Latest Updates on Fiscal Deficit
Experts peg India's Covid-19 lockdown cost at $120 bn, call for relief plan
Domestic brokerage Emkay congratulated policymakers for acting earlier than other countries, but rued that there is not much to cushion the economic impact
 "Experts peg India's Covid-19 lockdown cost at $120 bn, call for relief plan")
Best of BS Opinion: Financial market stress, policy after COVID-19 and more
Here's a selection of Business Standard Opinion pieces for the day
 "Best of BS Opinion: Financial market stress, policy after COVID-19 and more")
Chhattisgarh's subsidy burden up by 41%, CM presents Rs 95,650 cr budget
Besides loan waivers, the state government had doled out a number of subsidy schemes last year. The bonus to farmers, reducing the electricity bill to half were a few
 "Chhattisgarh's subsidy burden up by 41%, CM presents Rs 95,650 cr budget")
States slashed capital outlay by 14% to plug fiscal deficit: Report
States which ended up spending significantly less than what they budgeted include Jammu & Kashmir (51 per cent), Assam (51 per cent) and Goa (50 per cent)
 "States slashed capital outlay by 14% to plug fiscal deficit: Report")
Rupee could come under pressure
High fiscal deficit and poor export performance are two possible triggers
 "Rupee could come under pressure")
April-January fiscal deficit hits 128.5% of FY20 revised estimates
As a percentage of the Budget estimates of Rs 7.04 trillion, the fiscal deficit was a staggering 140 per cent
 "April-January fiscal deficit hits 128.5% of FY20 revised estimates")
Fiscal deficit touches 128.5% of budget estimate at January-end
The deficit during the same period during 2018-19 was 121.5 per cent of that year's Revised Budget Estimate (RE)
 "Fiscal deficit touches 128.5% of budget estimate at January-end")
Understanding Budget policy
Its objectives are clear. But the reality in recent years has not cooperated with the government's plans
 "Understanding Budget policy")
Taxing targets
Unreasonable I-T demands affect investment climate
 "Taxing targets")
No reason to doubt govt will meet fiscal deficit targets: RBI Guv backs FM
In an interview with PTI, Das said the government has remained within the limits set by the Fiscal Responsibility and Budget Management (FRBM) Committee for the budget deficit
 "No reason to doubt govt will meet fiscal deficit targets: RBI Guv backs FM")
Odisha tables revenue surplus budget with total outgo pegged at Rs 1.5 trn
Budget estimates fiscal deficit to be at 3.4%, within permissible limit of FRBM target
 "Odisha tables revenue surplus budget with total outgo pegged at Rs 1.5 trn")
Payment of AGR dues to slash fiscal deficit to 3.5% in FY20: SBI economists
According to the revised budget estimates, the government expects a fiscal deficit of 3.8 per cent in 2019-20
 "Payment of AGR dues to slash fiscal deficit to 3.5% in FY20: SBI economists")
Budget 2020 was disappointing for lacking vision, says Ashima Goyal
However, the finance minister has achieved a "balancing act" through her moves, Goyal said
 "Budget 2020 was disappointing for lacking vision, says Ashima Goyal")
India is beginning to look like a tired proposition: Ashmore's Jan Dehn
After the election-related fiscal blowout, India needs to scale back fiscal spending and roll out aggressive reforms
 "India is beginning to look like a tired proposition: Ashmore's Jan Dehn")
FRBM Act not breached in budget, committed to reducing fiscal deficit: FM
The Centre had earlier said it was committed to reduce the fiscal deficit to 3 per cent of GDP by 2020-21 and eliminate the primary deficit as per the FRBM Act.
 "FRBM Act not breached in budget, committed to reducing fiscal deficit: FM")
Budget proposals won't have much inflationary impact, says RBI Governor Das
Retail inflation based on consumer price index (CPI) soared to a near six-year high of 7.59% in January
 "Budget proposals won't have much inflationary impact, says RBI Governor Das")
Tamil Nadu presents fiscal deficit budget, expects 7.27 % growth
State's debt to increase to over Rs 4.56 trillion
 "Tamil Nadu presents fiscal deficit budget, expects 7.27 % growth")
Confident of economic recovery, S&P keeps India's rating at 'BBB-'
Says fiscal position weak, but sees strong growth prospects over 2-3 years
 "Confident of economic recovery, S&P keeps India's rating at 'BBB-'")
S&P affirms India's rating at 'BBB-', fiscal position remains precarious
The rating agency sees growth recovery over two to three years
 "S&P affirms India's rating at 'BBB-', fiscal position remains precarious")
S&P retains India's rating at 'BBB-', says fiscal position precarious
Fiscal deficits have exceeded the government's plan, S&P said, adding it expect limited consolidation over the next few years
 "S&P retains India's rating at 'BBB-', says fiscal position precarious")