Page 34 - Fiscal Deficit

Statsguru: 24% GDP contraction and enormity of Centre's fiscal challenge

If annual expenditure is kept unchanged from the budgeted Rs 30 trillion, a worst-case scenario can push Centre's fiscal deficit to 8.1 per cent of GDP

Considering fiscal deficit range instead of number, says N K Singh

Singh said the 15th Finance Commission had not sought any extension and will finish its report for 2021-22 to 2025-26 by October 31

15th FC panel suggests giving range for fiscal deficits for Centre, states

Singh said the commission did not brush aside the suggestion, however, a final decision on providing a range as fiscal deficit targets is yet to be taken

Sensex up 273 pts; Bharti Airtel up 7%, Voda Idea dips 13% post AGR verdict

All that happened in the markets today

Top biz headlines: GDP shrinks 23.9%, Adani-GVK deal, JioFiber, and more

Here are the top business headlines on Tuesday

At Rs 8.21 trn, April-July fiscal deficit exceeds FY21 budget estimates

With GDP for April-June also in, it can be calculated that fiscal deficit for Q1FY21 was 17.4% of nominal GDP. FM Sitharaman had pegged fiscal deficit for the year at 3.5% of GDP in 2020-21 Budget

India's fiscal deficit crosses full-year budgeted target in four months

Net tax receipts were Rs 2.03 trillion, while total expenditure was Rs 10.5 trillion

Fiscal deficit to touch 7% in FY21 as Covid hits revenue: Brickwork Ratings

Revenue from income taxes (personal income tax and corporate income taxes) was lower by 30.5 per cent, and the GST by almost 34 per cent during the period

Rise in fiscal deficit likely to impact construction sector this yr: Report

The agency had recently noted that the fiscal deficit of central and state governments will come at 12.1 per cent with the states contributing 4.5 per cent of it

RBI's payout unlikely to plug the huge govt revenue hole created by Covid

Last year the RBI's board approved a record payment of Rs 1.76 trillion ($23.5 billion) to the government, which included Rs 1.23 trillion as dividend and Rs 526.4 billion from its surplus capital

Rollback time: What didn't work for govts earlier will not work even now

Long discarded policies like deficit monetisation, loan restructuring, higher tariffs and import licensing had not yielded great results even the first time around, points out T N Ninan

It is not too late, but it soon will be

The fragility of central government finances is partly legacy, part refusal to acknowledge and address the problem due to the lack of strategic vision and poor institutional capability

Handling the dollar deluge

Diverging fiscal responses to the crisis can create serious macroeconomic challenges for countries globally

Share of external financing of fiscal deficit soars to 4.5% in Q1: Report

The government has run 83 per cent of its borrowing target as of June, according to official numbers released on July 31, due to the impact of the pandemic that crippled the economy

Has the fiscal deficit reached 83% of FY21 target in Q1 itself? Not really

The figures we should consider to calculate fiscal deficit should be the enhanced borrowing level announced in May, rather than the one announced in February

Fiscal deficit at 83.2% of budget estimates in Q1 on poor tax collection

Fiscal deficit during the corresponding period of last year was 61.4 per cent of the budget estimates

Bridging the gap

Govt should monetise assets to sustain expenditure

States' mkt borrowings jump 76% to Rs 1.93 trn so far this fiscal: Report

In addition, the Centre has also relaxed the fiscal deficit target from 3 to 5 per cent.

Fiscal deficit to shoot up to 7.6% in FY21; twice budget estimate: Ind-Ra

Ind-Ra said India's gross domestic product (GDP) will contract by 5.3 per cent, while states like Assam, Goa, Gujarat and Sikkim are expected to witness a double-digit contraction

Global public debt, fiscal deficits to reach all-time high in FY21: IMF

The steep contraction in output and ensuing fall in revenues along with a sizeable discretionary support have led to a surge in the government debt and deficits