Page 22 - Fiscal Deficit

India's fiscal deficit improves to 6.7% in FY22 on higher tax mop up

Fiscal deficit at 6.71% of GDP in FY22 as against revised budget estimate of 6.9%, shows govt data

Top headlines: India's Q4 GDP grows 4.1%; IMD raises 2022 monsoon forecast

Business Standard brings you the top headlines on Tuesday

Duty cut on petrol, diesel to put pressure on fiscal deficit: Experts

The tax reduction on petrol and diesel will lead to revenue loss of around Rs 1 lakh crore per year for the government

Top Headlines: Fuel rate cut to ease inflation, report on EV fire, and more

The recent EV scooter fires were caused by defects in their batteries, including in the designs of the battery packs and modules, a DRDO report said. Read more in our top headlines.

Tax revenue boost or expenditure cuts can help meet fiscal deficit target

The impact of Saturday's excise duty cuts will be Rs 1 trillion for a year, Finance Minister Nirmala Sitharaman had said

IMF projects India's general fiscal deficit at 9.9% of GDP for FY23

Rising energy and food prices will put renewed pressure on fiscal deficits, IMF First Deputy Managing Director Gita Gopinath said in a tweet.

Top headlines: PPF, NSC interest rates unchanged; SpiceJet settles dispute

Business Standard brings you the top headlines on Thursday

India's fiscal deficit touched 82.7% of full-year target at end of Feb

In actual terms, the deficit stood at Rs 13.16 trillion at the end of February this year, as per the data released by the Controller General of Accounts

Safe for now, macro economy may take a hit if Russian-Ukraine war stretches

A feeble impact is already being felt, and if the conflict stretches way beyond March, it could have implications on growth, inflation, fiscal deficit and current account deficit

India's FY23 fiscal deficit likely to hit 6.7% on free grains move

Finance Minister Nirmala Sitharaman has pegged the Centre's capex for FY23 at Rs 7.5 trillion

Govt's huge welfare scheme expenses hitting public finances: Yashwant Sinha

Ex finance minister Yashwant Sinha said huge expenditure on welfare schemes by Modi govt has impacted public finances which are currently in a mess with fiscal deficit touching abnormally high level

Centre's April-January fiscal deficit touches 58.9% of full-year target

Revenue expenditure was Rs 23.68 trillion, or 74.7% of RE compared with 71.6%

India's April-January fiscal deficit touches 58.9% of FY22 target: Govt

In actual terms, the deficit was Rs 9.37 trillion at end-January 2022 against upwardly revised annual estimate of Rs 15.91 trn

Top headlines: India's Q3 GDP grows 5.4%; Madhabi Puri Buch new Sebi chief

Business Standard brings you the top headlines on Monday

Amending the FRBM Act

For two years running, the finance ministry has excused itself from providing a projection of its fiscal consolidation plan

Fiscal deficit will come down once revenues start to grow: Tarun Bajaj

Union Revenue Secretary Tarun Bajaj on Friday said that the country's fiscal deficit will come down once revenues start to grow. Speaking at a webinar organised by the Bengal Chamber of Commerce and Industry (BCCI), Bajaj said that the government had adopted a loose fiscal policy on the backdrop of increased capital expenditure. "The fiscal deficit at present is 6.9 per cent of the GDP. The target for 2025-26 is to bring down to 4.5 per cent. If we continue to grow our revenues, the fiscal deficit can come down by 0.1 or 0.2 per cent", he said. Next year, the targeted fiscal deficit is 6.4 per cent, Bajaj said, adding that the government had the opportunity to lower it further. "But increased capital expenditure by almost 35 per cent had forced us to keep the fiscal level at that level", he added. The Revenue secretary said since last year, the Centre had started giving money to the states for making capital expenditure. Unless this is done, the last mile infrastructure will not

Once low-profile NSSF now a key player in Centre's finances for past 7 yrs

While govt's market borrowings have doubled from FY16 to FY22, NSSF loans to finance fiscal deficit have grown 11x

Little fiscal headroom for govt to respond to future shocks: Fitch

Rating agency says it revised Outlook on India's rating to Negative from Stable in June 2020, partly due to its assumptions about pandemic impact on public finance metrics

Conservative receipts lead to higher-than-expected fiscal deficit: MOFSL

Conservative receipts' estimates have led to higher-than-expected fiscal deficit target in the Union Budget FY23, said Motilal Oswal Financial Services

Ready Reckoner: FM Sitharaman's fourth Budget places emphasis on growth

Indirect taxes shall rise 5.5 per cent, on the back of a 15.6 per cent increase in spending in FY23