Page 23 - Fiscal Deficit

Lanka aims to lower fiscal deficit to 6.8% in budget 2023: Senior minister

Sri Lanka's 2023 budget would aim to reduce the fiscal deficit to 6.8 per cent in 2023 from the projected 9.9 per cent in 2022, a senior Cabinet Minister said on Tuesday, ahead of the visit by the IMF delegation for a bailout package to the crisis-hit island nation. Sri Lanka is in the midst of an unprecedented economic crisis that has led to severe shortages of fuel and other essentials, leading to long serpentine queues in front of filling stations. The island nation of 22 million also witnessed a significant political churn following massive mass protests that forced former president Gotabaya Rajapaksa to flee the country and resign from his post. "Sri Lanka is planning to cut the budget deficit to 6.8 per cent of gross domestic product in 2023 from an expected 9.9 per cent in 2022," Bandula Gunawardena, the Cabinet spokesman and Minister of Information said on Tuesday. The Cabinet of ministers has approved a fiscal framework for 2023-2025. Sri Lanka is facing the worst fiscal .

India's FY23 fiscal deficit may come around 6.5%, says SBI Ecowrap

The report has also revised current account deficit estimates from 3.2% of GDP to 3.7% of GDP in the current financial year

Centre's revenue receipts rise just 5% to Rs 5.7 trillion in June quarter

April-June fiscal deficit at 21.2% of Budget Estimates

India's fiscal deficit touches 21.2% of annual target in Q1: Govt data

In actual terms, the fiscal deficit was at Rs 3.51 trn at the end of the first quarter of 2022-23, data from the Controller General of Accounts showed

Fiscal deficit expected to follow previous years' trend in June quarter

Centre's capex outlay may touch 20 per cent of full-year target in Q1 at Rs 1.5 trillion

Sri Lanka Crisis: Are Indian states on the same path to economic distress?

The RBI, in a report in June 2022, said that several Indian states are posting worrisome numbers, mainly due to populist measures

Expect fiscal slippage of 0.4% in FY23, says brokerage firm Nomura

The Centre's reversal on windfall taxes within 18 days of announcing the moves led a Japanese brokerage to flag its impact on fiscal math.

Fertiliser stks prey to subsidy withdrawal risk, high input costs: Analysts

The risk of a breach of the government's fiscal deficit target could play a spoilsport for the sector as it could prompt the Centre to cut back on subsidy support, analysts believe.

IMF has warned that a long downturn is happening. But is anyone listening?

The IMF has not minced any words when it comes to fiscal policy. It has always advocated tight control over the political inclination to spend now and let someone else worry about the future

A makeover for North Block

The Indian economy faces tough challenges, but the pressure today is more on Mint Road

Govt committed to 6.4% fiscal deficit target for FY23, says report

India's macroeconomic fundamentals are strong to deal with challenges and the central government is committed to stick to the fiscal deficit target of 6.4 per cent of the GDP for the current fiscal

Twin deficit problem: What does it mean and how does it affect an economy?

The finance ministry recently said that India is at low risk of stagflation. But it also cautioned about a twin deficit problem that India may face. This report tells us what it means

Centre's fiscal deficit hits 12.3% of full-year target in April-May period

Non-tax revenue came in at Rs 49,251 crore, or 18.3 per cent of the full year target of Rs 2.69 trillion, compared with 48 per cent for the same period last year

Top headlines: Shinde next Maha CM; cryptos a clear danger, says RBI's Das

Business Standard brings you the top headlines on Thursday

Centre's fiscal deficit at 12.3% of full-year target in May: Govt data

The fiscal deficit was at 8.2 per cent of the Budget Estimate (RE) of 2021-22 during the corresponding period

Dept of Expenditure warns against extending the free food scheme: Report

In an internal note, the FinMin's Dept of Expenditure has warned that extension of the free food scheme beyond September or any more tax cuts will have consequences for the Centre's fiscal situation

India aims to keep FY23 fiscal deficit at last year's level: Report

Efforts to maintain some fiscal discipline reflect New Delhi's concern around risks to its sovereign credit rating, but will likely limit the govt's firepower

TMSEp200: Single-use plastic, IT workers, Nilesh Shah, twin deficit problem

Will Frooti packs go off the shelves? Can an IT employee be classified as a workman? What is Nilesh Shah's take on investors' approach to markets? What is a twin deficit problem? All answers here

Indian economy: Not just a twin but a triple-deficit problem looms

While the twin deficit problem of widening fiscal and current account deficits has been spoken about, a third problem of widening deficit in the states also stares the Indian economy in the face

India facing twin deficit problem due to commodity prices, subsidy: FinMin

Ministry's report urges rationalising non-capex spend not only for protecting growth supportive capex but also to avoid fiscal slippages