Page 2 - Fiscal Deficit

India's reforms give cushion against global uncertainty: CEA Nageswaran

Chief Economic Advisor V Anantha Nageswaran said GST overhaul and structural reforms will strengthen India's resilience to global risks and help meet the fiscal deficit target

Moderate impact of GST cuts on fiscal deficit; inflation may lower 50-90bps

Besides, a cut in the tax rate on nearly one-fourth of the essential and household items contained in inflation basket may lead to a moderation of 50-90 bps in retail inflation over next 12 months

New GST rates: Govt bonds rally as revenue loss concerns subside

Government bonds rallied as the estimated revenue loss from GST tax cuts came in lower than expected, easing fiscal concerns. The yield on the benchmark 10-year bond eased to 6.49%

GST rate cut may ease CPI inflation by 25bps; 40bps dent on fiscal deficit

Here's how analysts leading brokerages assess the impact of the GST rate rejig on the Indian economy, bond markets and the possibility of an aggressive interest rate cut by the Reserve Bank of India

Revenue deficit, capital spends: Key takeaways from 15th finance commission

The 15th FC had recommended a sizeable Rs. 2.9 trillion as revenue deficit grants (RDG) to a select number of states for FY2022-FY2026

On track to achieve fiscal deficit target of 4.4% for FY26: DEA Secy Thakur

Dispelling fears that the government may miss its ambitious fiscal deficit target of 4.4 per cent for the current financial year, Economic Affairs Secretary Anuradha Thakur on Saturday said the government is on track to meet the goal set in the Budget despite temporary mismatches which may have been exhibited in the latest monthly numbers. The statement from the Department of Economic Affairs (DEA) Secretary assumes significance in the light of Centre's fiscal deficit rising to 29.9 per cent of the full-year target at the end of July as against just 17.2 per cent of the Budget Estimates (BE) in the same period of the last financial year. "So this question (of achieving the target) has been coming up because of the latest numbers. I would like to say that quarter-by-quarter or month-by-month assessments of fiscal deficit numbers may not give a correct picture because of temporal mismatches, which may come in on the receipt and expenditure side. "On the overall fiscal deficit numbers,

Fiscal deficit at 29.9% of budget estimates in April-July FY26: CGA data

April-July data shows rising capex and RBI dividend boost, but tax revenue contraction widened India's fiscal deficit

Govt confident of meeting fiscal deficit target despite planned tax cuts

In the biggest tax overhaul since 2017, PM Modi on Saturday announced sweeping changes to the complex goods and services tax (GST) regime which will make daily essentials and electronics cheaper

Bond market sees best day in 2 months after S&P upgrades India's rating

S&P raises India's sovereign rating to BBB from BBB-, the first upgrade since 2007, citing fiscal discipline and infrastructure push, triggering a G-sec rally

India may miss FY26 fiscal deficit target of 4.4% on slower growth: BMI

BMI projects India's fiscal deficit to narrow to 4.5% of GDP in FY26, citing slower growth, tariff risks, and higher state spending as challenges to fiscal consolidation

States must fix their own economies, address deeper structural cracks

The data suggests that of all states and Union Territories, 12 had their debt-to-GSDP ratio higher than 35 per cent in 2023-24, while around 24 had their debt above 20 per cent

India in Flux offers up new ways to think about complex challenges ahead

Few could have played the role Shankar Acharya did-navigating political, fiscal, and global pressures with clarity and conviction

Fiscal deficit hits 17.9% of full-year target in Q1FY26: CGA data

The central government's fiscal deficit stood at 17.9 per cent of the full-year target at the end of June, according to data released by the Controller General of Accounts (CGA) on Thursday. It was at 8.4 per cent of Budget Estimates (BE) of 2024-25 in the first three months of the previous financial year. In absolute terms, the fiscal deficit, or gap between the government's expenditure and revenue, was Rs 2,80,732 crore in the April-June period of the 2025-26 fiscal year. The Centre estimates the fiscal deficit during 2025-26 at 4.4 per cent of the GDP, or Rs 15.69 lakh crore. According to the CGA, Centre's net tax revenue was Rs 5.4 lakh crore, or 19 per cent of corresponding BE 2025-26 of total receipts, up to June 2025. In the corresponding period of the previous fiscal year, the net tax revenue was at 21.3 per cent of that year's BE. The data on monthly accounts showed that the total expenditure during the first quarter was at Rs 12.22 lakh crore, or 24.1 per cent of BE. In

'Govt does not foresee revenue shortfall, aims to achieve deficit target'

The Central government does not foresee any revenue shortfall at this stage and aims to achieve the targets fixed in the Budget Estimates for 2025-26, Minister of State for Finance Pankaj Chaudhary informed Parliament on Tuesday. As per the Budget, the Centre has estimated the fiscal deficit for 2025-26 at 4.4 per cent of GDP, amounting to Rs 15.69 lakh crore. In a written reply in the Rajya Sabha, the minister said the Central government supports state finances through Finance Commission grants, Centrally Sponsored Schemes, and Special Assistance as loans to states for capital expenditure. Total resources being transferred to the states, including the devolution of state's share in taxes, grants/loans and releases under Centrally Sponsored Schemes, etc, in Budget Estimates for 2025-26 is about Rs 25.01 lakh crore, he said. In reply to another question, Chaudhary said, as per inputs received from Public Sector Banks (PSBs), as on March 31, 2025, 96 per cent staff are in position ..

Fiscal deficit slips to 0.8% of full-year target at May-end 2025: CGA data

The fiscal deficit, or gap between the government's expenditure and revenue, had touched 11.9 per cent of the Budget Estimates (BE) for 2025-26 or Rs 1.86 trillion in April

Moody's review meet with govt to focus on global trade, Indo-Pak conflict

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

Datanomics: Govt betters fiscal deficit target despite lower tax receipts

The credit goes to higher GDP in nominal terms than considered by the Budget

Govt outperforms on fiscal deficit, brings it down to 4.77% of GDP in FY25

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

Govt achieves fiscal deficit target of 4.8% for FY25, shows data

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's wider risk buffer range aimed at flexibility in times of uncertainty

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