Moody's will meet Indian officials on Thursday in Delhi for its semi-annual review of India's sovereign rating amid rising geopolitical tension and trade disruption
The credit goes to higher GDP in nominal terms than considered by the Budget
Capital expenditure for FY 2024-2025 at Rs 10.5 trillion stood at 103.3 per cent of the revised estimate for the year, CGA data showed
The government has met its fiscal deficit target of 4.8 per cent of the GDP for 2024-25, according to the data released by the Controller General of Accounts on Friday. The fiscal deficit for the previous financial year works out to be Rs 15,77,270 crore, nearly the same as revised estimates (Rs 15,69,527 crore) presented to Parliament in February. The economic growth in nominal terms for the fiscal 2024-25 is estimated at Rs 3,30,68,145 crore, according to the GDP data released earlier in the day. As per the CGA data, the government managed to collect Rs 30.36 lakh crore revenue or 98.3 per cent of the revised Budget Estimates (RE). The central government's expenditure during 2024-25 was Rs 46.55 lakh crore or 98.7 per cent of the RE. The central government's fiscal deficit for 2023-24 was 5.63 per cent of the GDP.
RBI revises CRB range to 4.5-7.5% under updated ECF, giving it flexibility to manage surplus transfers and avoid large fiscal shocks in volatile conditions
SBI says higher-than-budgeted dividend from RBI gives government room to lower FY26 fiscal deficit to 4.2 per cent of GDP or increase spending in key areas, amid strong liquidity and BoP outlook
Gopinath's remarks follow Moody's downgrade of the US credit rating and highlight rising debt, tax cuts and persistent trade uncertainty under Trump
Economists say India's fiscal deficit may widen if tensions with Pakistan persist, although the broader economic impact is expected to be limited if conflict remains contained
Moody's Ratings says India's economy remains resilient despite Pak tensions, but increased defence expenditure could weigh on fiscal strength and delay consolidation
Sitharaman's comment comes at a time when forecasting agencies have pared down their FY26 growth estimates for India amid growing global uncertainty
China's tax revenue fell 3.5% in the first quarter from the previous year, while non-tax revenue surged 8.8%, the ministry said
In the annual budget in February, India revised lower its fiscal deficit target for the current financial year to 4.8% of GDP and aimed to further narrow it to 4.4% in 2025-26
In the previous auction, the cut-off yield on 10-year state bonds was set in the range of 7.18 per cent to 7.27 per cent
Finance minister Thangam Thennarasu said that the state's revenue for the financial year 2025-26 is estimated at Rs 3,31,569 crore, while expenditure is estimated at Rs 3,73,204 crore
Gross additional spending to be matched by savings of Rs 6.27 trillion
In actual terms, the fiscal deficit -- the gap between expenditure and revenue -- was Rs 11,69,542 crore during the April-January 2024-25 period
The report further noted that both the IMF and the government saw a need for medium-term fiscal consolidation but considered targeting a more gradual pace of adjustment to be appropriate
According to the report, the budget reaffirms the government's commitment to fiscal discipline while fostering inclusive, long-term economic growth in line with the vision of Viksit Bharat
Since the finance minister announced a glide path based on debt-to-GDP ratio to measure fiscal deficit, opinion has been divided on the move since it would also reflect on government borrowings
Finance Minister Nirmala Sitharaman on Saturday said fiscal and monetary measures announced recently will help boost consumption and promote private investment. The Budget presented by the Finance Minister on February 1 proposed a slew of measures including significant income tax cuts for the middle class. Individuals earning up to Rs 12.75 lakh in a year will not have to pay any taxes, benefiting 1 crore taxpayers. On the monetary side, the Reserve Bank on Friday slashed the policy rate by 25 basis points, the first rate cut in five years to support growth. "After the Budget, the few inputs I've had from some business leaders is that the orders for fast-moving consumer goods for April-June are already getting booked, and the industry is clearly seeing signs of a possible recovery of consumption," she said at a media interaction after addressing the Board of the RBI in the customary post-budget meeting. As a result, she said, many of them are looking at reviewing their capacity ...