Page 42 - Latest Updates on Fiscal Deficit
Economic slowdown: States seek relaxation in fiscal deficit target to 4%
They also suggested measures to strengthen cooperation between states and Centre to attain $5 trillion economy
 "Economic slowdown: States seek relaxation in fiscal deficit target to 4%")
Advance corporation tax mop-up drops over 5% in Dec quarter to Rs 73,000 cr
Net collection grows only 0.7% to Rs 6.75 trillion
 "Advance corporation tax mop-up drops over 5% in Dec quarter to Rs 73,000 cr")
Fiscal profligacy can lead to critical situation: Former RBI Guv Subbarao
Subbarao pointed out that the nominal GDP growth has fallen to as low as 6.1%
 "Fiscal profligacy can lead to critical situation: Former RBI Guv Subbarao")
Infra spend has to grow, fiscal deficit can be raised: CII prez Kirloskar
When it comes to putting equity in business versus putting debt, equity should be more important, he said
 "Infra spend has to grow, fiscal deficit can be raised: CII prez Kirloskar")
Fiscal deficit may slip to 3.5-3.8% in FY20; govt set to miss 3.3% target
The FRBM Act, after its amendment in 2018, allows a fiscal deficit slippage of not more than 0.5% for any given year, provided there are justifications
 "Fiscal deficit may slip to 3.5-3.8% in FY20; govt set to miss 3.3% target")
Statsguru: Ball in the fiscal court as RBI keeps lending rates unchanged
The MPC underlined the rising consumer price inflation as one of the reasons
 "Statsguru: Ball in the fiscal court as RBI keeps lending rates unchanged")
Fixing the GST
Fundamental improvements to the flawed structure needed
 "Fixing the GST")
Markets expect govt to borrow Rs 80,000 cr more to bridge fiscal deficit
RBI waiting for Budget numbers has surprised the bond market
 "Markets expect govt to borrow Rs 80,000 cr more to bridge fiscal deficit")
CII calls for GST cut, expansionary policy to pull economy out of slowdown
The Centre's fiscal deficit has crossed the Budget FY20 projection of Rs 7.04 trillion by October itself
 "CII calls for GST cut, expansionary policy to pull economy out of slowdown")
Rescuing India's PSU behemoths coming at the cost of fiscal restraint
Modi has received more than $28 billion from state firms since he came to power in 2014, by extracting dividends or getting PSUs to buy out the government's stake
 "Rescuing India's PSU behemoths coming at the cost of fiscal restraint")
S&P reaffirms India's sovereign rating at BBB- with a stable outlook
S&P's reiteration of India's rating and outlook is good news for the government as it fights multiple fires on the economic front
 "S&P reaffirms India's sovereign rating at BBB- with a stable outlook")
Markets at a high, economy at a low
The markets are clear 5 per cent growth is not the new normal
 "Markets at a high, economy at a low")
Fiscal deficit for April-Oct touches Rs 7.2 trillion, exceeds FY20 target
This was 102.4% of the full-year target, compared with 103.9% for the same period last year
 "Fiscal deficit for April-Oct touches Rs 7.2 trillion, exceeds FY20 target")
India's April-October fiscal deficit at 102.4% of full-year target
Net tax receipts in the April-October period was Rs 6.83 trillion, while total expenditure was Rs 16.55 trillion, the data showed
 "India's April-October fiscal deficit at 102.4% of full-year target")
How should the government revive demand?
What happens when, with government expenditure unchanged at Rs 65 trillion, the FM decides to reduce the tax rate, mobilise less revenue and let the deficit widen by Rs 1 trillion?
 "How should the government revive demand?")
Rising fiscal fears
A comprehensive review is needed
For states, balancing fiscal maths and capex will be challenging: CRISIL
The rating agency - in its Infrastructure Yearbook 2019, released on Tuesday - said most of the sub-sectors in infrastructure have shown stress this year, compared to the previous year
 "For states, balancing fiscal maths and capex will be challenging: CRISIL")
There is economic slowdown, but no signs of recession: FM Sitharaman
The finance minister touched upon the difficulties in meeting the fiscal deficit, and indirectly signalled a fiscal slippage for the year
 "There is economic slowdown, but no signs of recession: FM Sitharaman")
States' fiscal health falling apart over shortfalls in GST compensation
States are indeed facing shortage in cash flow to run the administration and finance their schemes, as well as capital spending
 "States' fiscal health falling apart over shortfalls in GST compensation")
No plan to cut spending on welfare schemes despite low revenues, says FM
The government has high expenditures on such welfare schemes which are aimed at poorer sections and agriculture
 "No plan to cut spending on welfare schemes despite low revenues, says FM")