Page 48 - Latest Updates on Fiscal Deficit
The fog of fiscal finances
A string of new expenditure is clouding India's fiscal future
 "The fog of fiscal finances")
Govt may fall short of Rs 2.45-trn non-tax revenue target despite RBI funds
The biggest pressure point is from telecommunications revenue, which has been targeted at Rs 48,661 cr for the current year
 "Govt may fall short of Rs 2.45-trn non-tax revenue target despite RBI funds")
NDA govt deviated from the fiscal road map in 2016-17, says CAG report
On the capital side, off-budget financing of railways carried out through IRFC borrowings are outside budgetary control
 "NDA govt deviated from the fiscal road map in 2016-17, says CAG report")
Fiscal deficit of 3.3% for 2018-19 could be challenging, says experts
Some of the experts have already projected that the fiscal deficit could rise to 3.5 per cent of the GDP
 "Fiscal deficit of 3.3% for 2018-19 could be challenging, says experts")
India's fiscal deficit target overshot by 15% on revenue shortfall: DBS
An equally big concern are divestment efforts, with year-to-date collections still at a fifth of the target of Rs 80,000 crore
 "India's fiscal deficit target overshot by 15% on revenue shortfall: DBS")
Direct tax collection shortfall worry likely to add fiscal deficit woes
Officials have admitted that there could be a combined shortfall of Rs 70,000 crore-1 trillion on GST, though the centre's own GST shortfall will not be more than Rs 29,000-30,000 crore
 "Direct tax collection shortfall worry likely to add fiscal deficit woes")
Advance GDP estimate at 7.2% gives little relief to fiscal deficit pressure
Fiscal deficit at 3.3 per cent of GDP now comes at Rs 6.28 trillion compared to what was projected at Rs 6.24 trillion in the Budget Estimates
 "Advance GDP estimate at 7.2% gives little relief to fiscal deficit pressure")
Modi govt considers farm-relief package and ends up spooking bond traders
The government has repeatedly said it will meet its budget shortfall target of 3.3 per cent of GDP for the current financial year
 "Modi govt considers farm-relief package and ends up spooking bond traders")
Govt not seeking RBI reserves to meet fiscal deficit: Arun Jaitley
The Finance Minister said that the Modi government has the best track record of keeping fiscal deficit under check
 "Govt not seeking RBI reserves to meet fiscal deficit: Arun Jaitley")
April-Nov fiscal deficit touches nearly 115% of FY19 target at Rs 7.17 trn
The government is widely expected to miss its fiscal deficit target of 3.3% of GDP in the current financial year
 "April-Nov fiscal deficit touches nearly 115% of FY19 target at Rs 7.17 trn")
Compensation cess of Rs 200 billion to help govt cut fiscal deficit
For taking over some portion of compensation cess, govt got legal backing through an amendment to the GST (Compensation to States) Act in the monsoon session of Parliament
 "Compensation cess of Rs 200 billion to help govt cut fiscal deficit")
Govt to meet fiscal deficit target of 3.3% despite GST rate cut: Jaitley
As per the latest data, the fiscal deficit in the April-October period stood at 103.9% of Budget estimates
 "Govt to meet fiscal deficit target of 3.3% despite GST rate cut: Jaitley")
Govt wants Rs 100 bn interim dividend from RBI for fiscal deficit target
Reserve Bank had paid the same amount last financial year
 "Govt wants Rs 100 bn interim dividend from RBI for fiscal deficit target")
FM Jaitley may still manage to meet FY19 fiscal deficit target: Here's why
In 2 of the 3 pre-election years since FRBM idea was mooted, the finance ministry has succeeded in meeting fiscal targets; the only exception was 2008, when a global meltdown weighed on the economy
 "FM Jaitley may still manage to meet FY19 fiscal deficit target: Here's why")
Govt will stick to 3.3% fiscal deficit target for FY19: Arun Jaitley
Jaitley also said India will clock a growth rate of 7-8 per cent despite global uncertainties and will retain the tag of the world's fastest growing major economy
 "Govt will stick to 3.3% fiscal deficit target for FY19: Arun Jaitley")
A balancing act
The govt should be flexible on the fiscal position
Govt confident of meeting fiscal deficit target despite GST shortfall
Centre expects direct taxes to overshoot target by Rs 300 billion
Govt should find fiscal space to ramp up investments, says NITI Aayog V-C
Banks under prompt corrective action (PCA) should be allowed to part-lend again, says Rajiv Kumar
 "Govt should find fiscal space to ramp up investments, says NITI Aayog V-C")
April-October fiscal deficit breaches full-year target at Rs 6.24 trillion
Total expenditure of the government at October-end was Rs 14.56 trillion or 59.6 per cent of budgeted estimates
 "April-October fiscal deficit breaches full-year target at Rs 6.24 trillion")
Govt may resort to tested ways to meet fiscal deficit target of 3.3% of GDP
Finance Minister Arun Jaitley has publicly committed to meet the fiscal deficit target without compromising on capital expenditure