By increasing states' share in the divisible tax pool to 42%, the 14th Finance Commission has ushered in a monumental change in the country's fiscal architecture. States now have the flexibility to pr
Finance Minister had in the 2016-17 Budget proposed to set up a committee to look into the possibility of fixing a range of fiscal deficit target
The report also suggested year-to-year flexibility for additional deficit of about 0.5%, plus or minus
The ministry said tax revenues were on track and the 2015-16 revised targets were expected to be fully met
As per fiscal consolidation roadmap, fiscal deficit for current fiscal has been pegged at 3.5% of GDP
March, final month of FY16, likely to make up as revenue swells
According to the financial services firm, the state deficit could rise to 2.9% of GDP in FY17
The finance ministry plans to retire about Rs 30,000 crore of government debt ahead of schedule to take advantage of the current market conditions
Increase in untied funds creates space for adjusting expenditure allocations
Officials grappling with a combination of measures to provide spending buffer