Page 51 - Latest Updates on Fiscal Deficit
April-June fiscal deficit of Rs 4.29 trillion at 68.75% of FY18-19 target
India expects to trim the deficit to 3.3% of GDP this fiscal year
 "April-June fiscal deficit of Rs 4.29 trillion at 68.75% of FY18-19 target")
Slide in states' fiscal position; capital outlay to grow slower, says RBI
Despite these signs, there is no correction - either in terms of fiscal discipline, access to cheaper sources of finance or in outlays for large and expensive social schemes
 "Slide in states' fiscal position; capital outlay to grow slower, says RBI")
Fiscal deficit hits 55% of full-year target on the back of higher capex
The fiscal deficit target for 2018-19 is Rs 6.24 trillion, or 3.3 per cent of the gross domestic product (GDP)
 "Fiscal deficit hits 55% of full-year target on the back of higher capex")
April-May fiscal deficit reaches 55.3% of budgeted target of FY19
India expects to trim the deficit to 3.3% of GDP in this financial year
 "April-May fiscal deficit reaches 55.3% of budgeted target of FY19")
No impact on fiscal deficit, will be kept at 3.3 % for FY 19: Official
The government had budgeted to cut fiscal deficit to 3.3 per cent of GDP in current fiscal, from 3.53 per cent of GDP in 2017-18
 "No impact on fiscal deficit, will be kept at 3.3 % for FY 19: Official")
Govt will meet fiscal deficit target of 3.3% this year: Piyush Goyal
The government, in the Budget in February, had revised the fiscal deficit target for 2017-18 to 3.5 per cent from the earlier estimate of 3.2 per cent
 "Govt will meet fiscal deficit target of 3.3% this year: Piyush Goyal")
Modi govt may cut capex to stick to 3.3% fiscal deficit, says Moody's
Moody's had last year upped India's sovereign rating for the first time in over 13 years to 'Baa2' with a stable outlook
 "Modi govt may cut capex to stick to 3.3% fiscal deficit, says Moody's")
April's fiscal deficit up at 24.3% of BE on lower expenditure, high revenue
The government had budgeted to cut fiscal deficit to 3.3 per cent of GDP in current fiscal, from 3.53 per cent of GDP in 2017-18
Govt meets fiscal deficit target of 3.5% at Rs 5.92 trillion for 2017-18
For April, capital expenditure showed a jump in absolute and in relative terms
 "Govt meets fiscal deficit target of 3.5% at Rs 5.92 trillion for 2017-18")
Fiscal deficit at 3.5% of GDP in FY18 at Rs 5.9 trn, meets new estimates
Govt revised its fiscal deficit target in February to 3.5% of GDP from 3.2% of GDP for the 2017/18 fiscal year
Reclassification helps govt rein in fiscal deficit to 3.4% of GDP in FY18
The total non-tax revenue for 2017-18 was already revised downwards to Rs 2.36 trillion from Rs 2.9 trillion
FY18 fiscal deficit to be lower than revised estimates of 3.5%: S C Garg
India revised its fiscal deficit target to 3.5% of GDP from an earlier 3.2% of GDP for the 2017/18 fiscal year that ended on March 31
 "FY18 fiscal deficit to be lower than revised estimates of 3.5%: S C Garg")
Fiscal deficit will be within 3.5% of GDP, says Economic Affairs Secretary
Economic Affairs Secretary Subhash Chandra Garg said the CGA data was only till February-end and that the latest numbers available till March 28 "are very close to revised estimates"
 "Fiscal deficit will be within 3.5% of GDP, says Economic Affairs Secretary")
April-Feb fiscal deficit at Rs 7.15 trillion, 120% of FY18 target
the finance ministry asserted that the target will be met, which means expenditure might be curtailed substantially or carried forward to next year
 "April-Feb fiscal deficit at Rs 7.15 trillion, 120% of FY18 target")
IMF may revise India's fiscal deficit upwards by 0.3% of GDP in WEO report
The Union government has maintained that the bank recapitalisation will be cash-neutral on its finances
To boost spending, govt seeks parliament nod to spend extra Rs 853 billion
This extra spending is unlikely to impact the country's fiscal deficit target.
 "To boost spending, govt seeks parliament nod to spend extra Rs 853 billion")
April-January fiscal deficit touches 113.7% of full-year target
Net tax receipts in the first ten months of 2017/18 fiscal year were Rs 9.7 trillion, government data showed
Govt expects up to Rs 40-bn surplus fund from Sebi: DEA Secretary
The government has already sought dividend of about Rs 130 billion from the Reserve Bank of India for 2016-17.
 "Govt expects up to Rs 40-bn surplus fund from Sebi: DEA Secretary")
India's fiscal deficit may widen to 3.5% in FY19: Morgan Stanley report
Even though spending growth is expected to accelerate, Morgan Stanley's base case is that it does not expect a material impact on the inflation outlook
 "India's fiscal deficit may widen to 3.5% in FY19: Morgan Stanley report")
Fiscal deficit, growth and employment
Without accounting of the government's assets and liabilities, limits on fiscal deficits will only slow down growth and job creation
