Page 19 - Fiscal Deficit

Centre's fiscal deficit touches 45.6% of Budget target till October

With the GDP numbers out, the deficit stood at 4.7 per cent of GDP in the first six months of FY23

Budget 2023-24: Stay on fiscal glide path, economists advise FM Sitharaman

The Finance Ministry was also urged to continue with long term loans to states to support their capex programs, and give them more leeway to spend, in order to boost growth

Demand for musical instruments up; Chennai, Kolkata rank as top exporters

India exported $22 million worth of musical instruments and their accessories in the first half of the current fiscal year, as compared to $38.5 million in the previous year

Centre confident of meeting fiscal deficit target for FY23: Report

Centre expects the gross tax revenue to be "at least" Rs 3-3.5 trillion above the FY23 target of Rs 27.6 trillion

India's CAD pegged at 3-3.2% of GDP in FY23: CEA V Anantha Nageswaran

'India's annual import cover comfortable; IMF does not consider external sector to be in a zone of vulnerability'

Abolish exemptions

Instead of reducing tax rates, Budget 2023 should take steps to reverse the decline in tax buoyancy

Best of BS Opinion: Voting against self-interest, fiscal deficit, and more

Here is the best of Business Standard's opinion pieces for today:

Something deficient in fiscal deficit

GDP alone isn't an adequate measure to calculate a safe level of budget deficit. Population also has to be worked into the method. It is just common sense

Better tax collection to help meet FY23 fiscal target of 6.4%: Report

The Centre is likely to meet the key fiscal targets led by the deficit getting contained at the budgeted target of 6.4 per cent in the current financial year, mainly due to better tax collection, according to a report. Bank of America Securities on Friday said the key risks to budgeted fiscal deficit include higher subsidies, lower divestment proceeds, excise duty cut on petrol and diesel. But the offsetting factors include better than estimated tax revenue buoyancy, higher nominal GDP growth, and lower capex loan to states, it said in a report. Accordingly, the brokerage said it expects the government to meet the budgeted FY23 fiscal deficit target at 6.4 per cent of GDP despite upside risks. The report also noted that it was expecting the government to undershoot the fiscal deficit target when the budget was presented at 6 per cent. However, as the year progressed, the outbreak of the Ukraine war started to exert meaningful pressure on global commodity prices, particularly food,

Best of BS Opinion: Managing expectations, the state of states & more

Here is the best of Business Standard's opinion pieces for today

Fiscal correction: Focus should be on reducing the fiscal deficit

The govt would do well to be cautious and resist the temptation of increasing expenditure in the run-up to the Lok Sabha elections because the economy is likely to slow in the second half of the year

Best of BS Opinion: Empowering Gati Shakti, quiet quitting, and more

Here is the best of Business Standard's opinion pieces for today

Centre's fiscal deficit in H1 touches 37.3% of full-year target

The Centre is hopeful of keeping the fiscal deficit at 6.4 per cent of nominal GDP in FY23

April-Sept fiscal deficit at 37% of FY23 target, net tax receipts Rs 10 trn

Net tax receipts rose to Rs 10.12 trillion while total expenditure was Rs 18.24 trillion, the data showed

India macro indicators may return to FY20 levels by FY27, says IMF

Although China's debt to GDP ratio is projected to remain at 76.9 in 2022, it is projected to overtake India's ratio in 2024 at 89.8 and continue to increase further to 102.8 in 2027

Germany cuts fiscal deficit in overall budget as Covid measures expire

Germany cut its fiscal deficit in the overall public budget to 32.9 billion euros in the first half of this year, the Federal Statistical Office (Destatis) said

Taxes to come to govt's aid, achieve 6.4% fiscal deficit goal for FY23

Centre has already collected half the targeted revenue in the first six months of the current financial year even as customs and excise duty collection figures are yet to come in

World Bank slashes India's economic growth forecast to 6.5% for FY23

Cites Ukraine war, global policy tightening

Finance ministry confident of keeping FY23 fiscal deficit in check

Robust tax mop-up, savings through SNA dashboard bode well for balance sheet, say officials

India's April-August fiscal deficit recorded at 32.6% of FY23 target

Sabnavis said the progress till August shows that the government's accounts are on course compared with last year