Page 38 - Gdp

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

Centre's GDP deflator forecast for FY23 is 3-3.5%: FM Nirmala Sitharaman

Based on Sitharaman's statement, the finance ministry's own real GDP projection is closer to that of the Reserve Bank of India

India's market capitalisation-to-GDP at 116%, highest since 2007

Despite the wobble in the markets over the past few weeks, Indian equities remain expensive as measured by several yardsticks

Weak fiscal strength to remain key credit challenge for India: Moody's

Agency says it may be challenging for govt to push through material revenue reform given general elections that need to be held by mid-2024, as well as various state elections before then

Union Budget 2022: How the India's social sector gets short shrift

Government allocations on health and education do not meet its targets and consistently fall short in terms of actual spending

Finance Ministry's real FY23 GDP forecast lower than in Economic Survey

The last time India's real GDP was at 8 per cent-plus was in 2015-16 (8 per cent) and 2016-17 (8.3%)

Largely transparent, but political

Finally, the Budget for 2022-23 has returned to its agenda for protectionism in the name of creating a self-reliant India

Not a 25-year blueprint

This is not a Budget that supports economic recovery, whether through supporting aggregate demand, or through expansionary stimulus

Union Budget 2022: Agriculture, rural could do with more stimulus

Food, fertiliser, petroleum subsidies were lower in FY23, compared with FY22

Is the Economic Survey overestimating reserves adequacy?

There is some concern in the finance ministry about the adequacy of foreign exchange reserves in case there is an unanticipated and large withdrawal of dollars.

At 6.6%, India's GDP contracted less than projected in FY21: NSO data

FY22 growth may NOW dip to 8.8% vs 9.2% estimated earlier; core growth across eight sectors clocks 8.4%

Govt revises FY21 GDP growth to -6.6% from -7.3% earlier

As per the provisional estimates released in May 2021, the GDP had contracted by 7.3% in 2020-21

Sensex ends 814 pts higher ahead of Budget-day in broad-based rally

Large part of today's rally in the headline indices was led by IT stocks such Tech M, Wipro, Infosys and HCL Tech; financials such as Bajaj twins and SBI, and index heavyweights RIL

Working to develop 200,000 km national highway network by 2025: Gadkari

Gadkari on Sunday said that the central government is working to develop a national highways network of 2 lakh kilometres by 2025.

Tax when you want to spend

Raise the tax-GDP ratio to finance rising revenue expenditure

Banking on the budget with no surprises

The future of deposits will be an issue for banks. This year, quite ironically, banks have been happy with deposits not growing, as there were few avenues to lend, anyway

Eyes on GDP forecast by pre-budget Economic Survey despite recent misses

The pre-budget Economic Survey, which is tabled in Parliament ahead of the Union Budget to present the state of the economy, quite often misses on the GDP forecast, sometimes by a significant margin.

Union Budget 2022: Key measures govt must take to address demand-side issue

The country's annual financial exercise this year, comes at a juncture when the outlook on both, global and domestic growth is uncertain in the context of the pandemic trajectory

Omicron effect: IMF cuts India's GDP forecast for FY22 to 9% from 9.5%

On a calendar year basis, it projected India's GDP growth at 8.7 per cent in 2022 and 6.6 per cent in 2023

India could spend 11% of GDP in reaching net zero emissions by 2050: Report

Annual capital spending on physical assets in India would rise from around $300 billion in 2020 to an average of $600 billion between 2021 and 2050, McKinsey believes