Page 15 - Fiscal Deficit

Govt's fiscal deficit rises to 39.3% of annual target in H1 of FY24

The fiscal deficit was 6.4 per cent of the GDP in 2022-23 against the earlier estimate of 6.71 per cent

Fiscal balance

Geopolitical tensions have increased risks

India likely to meet 5.9% fiscal deficit target in FY24, says IMF

Earlier, this month, India hiked the cooking gas subsidy for low income households to 300 rupees per cylinder from 200 rupees announced in August

India's debt to GDP ratio to peak at 82.3% in FY25, fall in FY29, says IMF

The IMF's present estimates mark a notable deviation from its April projections

TMS Ep538: Fiscal balance, Ceat's Arnab Banerjee, glacial lake outburst

Will polls pose a danger to India's fiscal balance? What is Arnab Banerjee's view on Ceat's quality management? How will Israel-Hamas war impact markets? What is glacial lake outburst? Answers here

Beyond the bond market's message

Unlike in the past, when India and other developing markets caught a cold when the US sneezed, the situation is somewhat different now

No major problem with central govt finances: RBI governor Shaktikanta Das

Governor Shaktikanta Das on Friday said the RBI does not see "any major problem" or any other worries with the central government finances. The government has promised to stick to the fiscal deficit targets laid down in the budget as part of the consolidation roadmap, Das told reporters at the RBI headquarters at the customary post-policy press conference. Replying to a specific question on the state of government finances, Das said, "So far as central government finances are concerned, I do not see any major problem or anything that you know that worries the central bank". He said the government is, by and large, sticking to the fiscal consolidation roadmap after the end of the pandemic, which had seen some expansion because of the high spending. Even during the pandemic, the government's spending was "calibrated and targeted", Das noted. "After the pandemic, the government has announced a fiscal consolidation roadmap. And by and large, they're sticking to that," he said. The ..

India's fiscal deficit rises to Rs 6.42 trillion, 36% of FY24 target

In the same period in FY23, the deficit was 32.6 per cent of the full-year target

Top headlines: India's economy 16.5 yrs behind China, Inflation a key issue

Business Standard brings you the top headlines at this hour

Confident of meeting fiscal deficit, nominal GDP targets: DEA secy

Govt keeping a close watch on some sectors for supply side measures to tame inflation

India's gross tax revenue up 2.8% at Rs 8.9 trillion so far in FY24

India's fiscal deficit widens to 33.9% of FY24 BE; net tax revenue contracts nearly 13%

Fiscal deficit touches 33.9% of full-year target at end-July: CGA data

The Centre's fiscal deficit in the first four months of 2023-24 touched 33.9 per cent of the full-year target, government data showed on Monday. In absolute terms, the fiscal deficit -- the gap between expenditure and revenue -- was Rs 6.06 lakh crore as of end-July, according to the data released by the Controller General of Accounts (CGA). The deficit stood at 20.5 per cent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23. In the Union Budget, the government projected to bring down the fiscal deficit to 5.9 per cent of the gross domestic product (GDP) in the current 2023-24 financial year. The deficit was 6.4 per cent of the GDP in 2022-23 against the earlier estimate of 6.71 per cent. Unveiling the revenue-expenditure data of the Union government for the April-July period of 2023-24, CGA said the net tax revenue was Rs 5.83 lakh crore or 25 per cent of the BE for the current fiscal. The net tax revenue collection was 34.4 per cent at end-Jul

India's fiscal deficit for Q1 reaches 25.3% of annual target: Govt data

Fiscal deficit - the difference between government's expenditure and revenue, stood at 6.4 per cent of the GDP in 2022-23

Fiscal deficit for April-June at 25.3% of annual target: Govt data

Total expenditure during the period was Rs 10.51 trillion,or 23.3% of the annual goal, lower than the Rs 9.48 trillion in the same period last year

Centre's fiscal deficit at 11.8% of FY24 Budget target, shows CGA data

The finance ministry has targeted to bring down the fiscal deficit to 5.9 per cent of GDP in FY24 from 6.4 per cent of GDP in the preceding year

Centre's fiscal deficit at 11.8% of full year target, shows CGA data

The central government's fiscal deficit at the end of May stood at 11.8 per cent of the full-year budget estimates for 2023-24, according to official data. The fiscal deficit was 12.3 per cent of the 2022-23 BE in the same period of the last year. Fiscal deficit is the difference between total expenditure and revenue of the government. It is an indication of the total borrowings that are needed by the government. In actual terms, the deficit was Rs 2,10,287 crore at end-May 2023, as per the data of the Controller General of Accounts (CGA). In the Union Budget, the government aimed to bring down the fiscal deficit during the current financial year 2023-24 to 5.9 per cent of the gross domestic product (GDP). The deficit was 6.4 per cent of the GDP in 2022-23 against the earlier estimate of 6.71 per cent. Unveiling the revenue-expenditure data of the Union government for the first two months of the 2023-24, CGA said the net tax revenue was Rs 2.78 lakh crore or 11.9 per cent of the

States' financial profile better in FY23; debt stays high: RBI report

At a disaggregated level, a few large states have debt-to GSDP ratios exceeding 35 per cent, the report added

Average capital investment in many sectors growing at more than 20%: CEA

The average capital investment in many sectors is growing at more than 20 per cent, and there are multiple indicators pointing to a momentum in the economy, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Thursday. Also, he exuded confidence that the finance ministry's target of narrowing the fiscal deficit to 5.9 in the current financial year and to 4.5 percent in 2025-26 would be achieved. Addressing FICCI's special interactive session on 'Indian economy@100 - Journey to the Amrit Kaal', the CEA said that last year many sectors saw average capital investment growing at more than 20 per cent. In fact, in the hotels and hospitality sector, there was an 80 per cent growth in CAPEX in FY 23 over FY 22, he said. "The total employment in the hospitality sector which was 4 crore pre-pandemic declined to 2.9 crore during the pandemic years, and now it has increased to 4.5 crore exceeding the pre-pandemic data. The hospitality sector now employs 50 lakh people more than it employ

Fiscal deficit comes marginally lower than 6.36% of FY23 target: Govt data

Non-debt capital receipts, primarily disinvestment receipts, fell short of the FY23 target by 13.5 per cent

Govt's fiscal deficit narrows to 6.4% of GDP for FY23, meets target

The fiscal deficit for the last financial year narrowed to 6.4% from a year earlier. It also met the budget gap target, aided by buoyant tax receipts and some fiscal headroom from lower payments