Page 16 - Fiscal Deficit

India's fiscal deficit target of 5.9% for FY24 at risk, warns Nomura

A notable increase in RBI's income, which was driven by profits from foreign exchange sales amounting to Rs 1 trillion, reflects active intervention in the foreign exchange market

PM Modi urges states to maintain fiscal discipline, take prudent decisions

Prime Minister Narendra Modi on Saturday said that the Centre, states and Union Territories need to work as a team and develop a long-term common vision to fulfil the aspirations of people to make India a developed country by 2047, when the country completes 100 years of Independence. Addressing the eighth Governing Council meeting of NITI Aayog here, Modi also urged the states to maintain fiscal discipline and take financially prudent decisions which are capable of delivering programmes that meet the aspirations of the people. The Prime Minister urged the states to proactively use the Gati Shakti Portal not only for infrastructure and logistics but also for local area development and creation of social infrastructure. Briefing media about the deliberations of the meeting, NITI Aayog CEO BVR Subrahmanyam said that chief ministers and Lt Governors of 19 states and six UTs attending the meeting. However, chief ministers of 11 states -- Punjab, Bihar, Tamil Nadu, Karnataka, Delhi, ...

Expect RBI to start rate cuts by end of FY24: HDFC Bank chief economist

Abheek Barua said that the Indian economy is expected to grow at 4.4% in the quarter ended March 31

Fiscal deficit at 82.8% of Revised Estimates till February: Govt data

Total expenditure of Rs 34.93 trillion for April-February FY23 was 83.4 per cent of the RE

Fiscal deficit touches 82.8% of full-year target in February: Govt data

Out of the total revenue expenditure, Rs 7,98,957 crore was for interest payments and Rs 4,59,547 crore was on account of major subsidies

Fiscal slippage in FY23 likely as govt seeks to spend Rs 1.5 trillion more

The additional spending demands are led by fertiliser subsidy, defence pensions, allocation for Universal Service Obligation Fund (USOF) and GST compensation to states and UTs

FY23 fiscal deficit: FinMin starts daily monitoring of receipts, expenses

The finance ministry has started daily monitoring of the revenue receipts, including tax collections, as well as expenditure beginning March 1, with an aim to keep fiscal deficit in check during the current fiscal. Although the government is expected to meet the revised tax revenue estimates, meeting the Rs 50,000 crore target from disinvestment receipts could be a challenge. According to officials, the daily monitoring of tax and non-tax revenue collections will help the government in taking timely corrective actions, wherever needed. "In order to keep a close track of receipts, expenditure and involving fiscal position of the central government in the month of March, 2023, it is necessary to have updated information on a day-to-day basis," the Controller General of Accounts (CGA) under the finance ministry said in an office memorandum dated March 1. The Ministry has also asked the Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) to repor

Centre to daily monitor revenue receipts, expenses to check fiscal deficit

From March 1 onwards, the finance ministry has begun monitoring of revenue receipts like tax collections and even expenses, to control fiscal deficit in the current fiscal

Centre's fiscal deficit widens to 67.8% of revised full-year target

Govt capex stays strong, 29% higher in 10 months of FY23

Apr-Jan fiscal deficit comes at $144.19 bn; touches 68% of full-year target

India aims to end the current fiscal year with a budget deficit of 6.4 per cent

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Rs 1.5-trn spending rationalisation helps govt meet FY23 deficit target

Without the expenditure rationalisation, the Revised Estimates (RE) for the Centre's total spending would have been about Rs 43.4 trillion instead of Rs 41.9 trillion

How credible is path of improving quality of fiscal deficit going forward?

Centre's fiscal deficit is projected to come down to 5.9% of GDP next financial year from 6.4% in the current financial year

Govt to meet fiscal target in coming year, capex a longer shot, shows poll

A key government objective is to bring the deficit down to 4.5% of GDP by 2025/26. Respondents were evenly split on whether it would succeed

Budget proposals don't change our long-term preferences: Abhiram Eleswarapu

'Consensus forecasts call for a 16 per cent earnings compounded annual growth through FY25, with margin expansion baked in across most sectors', said Eleswarapu

A growth-oriented Budget, says NSE MD & CEO Ashishkumar Chauhan

"The Budget would support growth and the Indian consumption story, and keep us in good stead, given headwinds in China and developed markets and until the rest of the world eases"

Budget 2023: Many hits, few misses as Centre sticks to fiscal consolidation

The target of 5.9% is also likely to be met next year, finally bringing it down to below 4.5% of GDP in the financial year 2025-26

Union Budget 2023-24: Marching ahead on a sustainable growth path

The biggest push came for the infrastructure sector, with a more than expected - i.e. 33 per cent - hike in capex that should boost private investment and spur employment generation

Fiscally prudent, but electorally savvy

In 2022-23, the finance minister hopes to grow her net revenue receipts by 8 per cent even as her revenue expenditure would increase by a similar rate

Budget 2023: FM sticks to fiscal road map, targets deficit of 5.9% in FY24

The fiscal deficit is the difference between the government's expenditure and revenues when the former is higher