Fiscal deficit

Fiscal deficit News

Fitch raises India's FY20 fiscal deficit forecast to 3.6 per cent of GDP

Fitch said it was revising the fiscal deficit forecast as revenue collection is likely to fall far short of the projections in the FY2019/20 Union Budget due to weak goods and services tax (GST) and corporate income tax collections.

Fiscal deficit hits 93% of BE at Rs 6.51 lakh crore till September-end

The CGA data showed that revenue receipts of the Centre in the April-September 2019-20 period rose to 41.6 per cent of the BE, compared to 40.1 per cent in the corresponding period last year.

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No plans to revise fiscal deficit target or cut spending: Sitharaman

"At this point of time we are not revising any target. The decision will be taken later," Finance Minister Nirmala Sitharaman told reporters at her residence in New Delhi on Sunday, adding that there was no plan to cut spending currently.

Will stick to fiscal prudence, lower tax rates if voted to power: Arun Jaitley

He further said the GST (Goods and Services Tax) Council has cut tax rates on consumption items to 12 or 18 per cent from the highest slab of 28 per cent and lowering rate on cement is next on agenda.

April-February fiscal deficit at 134.2% of revised estimate

The data released on Friday showed that revenue receipts of the Centre stood at Rs 12.65 lakh crore or 73.2 per cent of the revised estimate at the end of February as against Rs 11.77 lakh crore or 78.2 per cent of the estimates in the corresponding period last year.

Fiscal deficit touches 121.5% of full-year target in January

The fiscal deficit, which is the gap between the government’s expenditure and revenue, stood at Rs 7.70 lakh crore during April-January of the current financial year ending March, according to data released by the Controller General of Accounts.

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Fiscal deficit touches 114.8 per cent of full-year target at November-end

The government plans to reduce fiscal deficit to 3.3 per cent of Gross Domestic Product by March-end 2019. The fiscal deficit, or gap between expenditure and revenue, stood at Rs 7.16 lakh crore during April-November of the current financial year.

The deficit Problem

Centre increasingly takes recourse to non-market borrowings for public deficits. There is a cost to deficit-induced borrowings.

April-September fiscal deficit at 95% of full-year target

Net tax receipts (post refunds and devolution to states) grew just 7.5 per cent in H1FY19 against the year-ago period. A y-o-y growth of 19 per cent is required to raise the budgeted amount of Rs 14.8 lakh crore from taxes for the full year.

Fiscal Deficit: India could cut capex to meet target, says Moody’s

Moody’s had in November 2017 revised up India’s sovereign rating for the first time in around 14 years to Baa2 from the lowest investment-grade ranking of Baa3, with a stable outlook.

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