Page 9 - Latest Updates on Fiscal Deficit
Confident of meeting fiscal deficit, nominal GDP targets: DEA secy
Govt keeping a close watch on some sectors for supply side measures to tame inflation
 "Confident of meeting fiscal deficit, nominal GDP targets: DEA secy")
India's gross tax revenue up 2.8% at Rs 8.9 trillion so far in FY24
India's fiscal deficit widens to 33.9% of FY24 BE; net tax revenue contracts nearly 13%
 "India's gross tax revenue up 2.8% at Rs 8.9 trillion so far in FY24")
Fiscal deficit touches 33.9% of full-year target at end-July: CGA data
The deficit stood at 20.5 per cent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23
 "Fiscal deficit touches 33.9% of full-year target at end-July: CGA data")
India's fiscal deficit for Q1 reaches 25.3% of annual target: Govt data
Fiscal deficit - the difference between government's expenditure and revenue, stood at 6.4 per cent of the GDP in 2022-23
 "India's fiscal deficit for Q1 reaches 25.3% of annual target: Govt data")
Fiscal deficit for April-June at 25.3% of annual target: Govt data
Total expenditure during the period was Rs 10.51 trillion,or 23.3% of the annual goal, lower than the Rs 9.48 trillion in the same period last year
 "Fiscal deficit for April-June at 25.3% of annual target: Govt data")
Centre's fiscal deficit at 11.8% of FY24 Budget target, shows CGA data
The finance ministry has targeted to bring down the fiscal deficit to 5.9 per cent of GDP in FY24 from 6.4 per cent of GDP in the preceding year
 "Centre's fiscal deficit at 11.8% of FY24 Budget target, shows CGA data")
Centre's fiscal deficit at 11.8% of full year target, shows CGA data
The fiscal deficit was 12.3 per cent of 2022-23 BE a year ago
 "Centre's fiscal deficit at 11.8% of full year target, shows CGA data")
States' financial profile better in FY23; debt stays high: RBI report
At a disaggregated level, a few large states have debt-to GSDP ratios exceeding 35 per cent, the report added
 "States' financial profile better in FY23; debt stays high: RBI report")
Average capital investment in many sectors growing at more than 20%: CEA
On inflation, the CEA said it has been moderate and that it would not be a challenge for households and cost of living in 2024
 "Average capital investment in many sectors growing at more than 20%: CEA")
Fiscal deficit comes marginally lower than 6.36% of FY23 target: Govt data
Non-debt capital receipts, primarily disinvestment receipts, fell short of the FY23 target by 13.5 per cent
 "Fiscal deficit comes marginally lower than 6.36% of FY23 target: Govt data")
Govt's fiscal deficit narrows to 6.4% of GDP for FY23, meets target
The fiscal deficit for the last financial year narrowed to 6.4% from a year earlier. It also met the budget gap target, aided by buoyant tax receipts and some fiscal headroom from lower payments
India's fiscal deficit target of 5.9% for FY24 at risk, warns Nomura
A notable increase in RBI's income, which was driven by profits from foreign exchange sales amounting to Rs 1 trillion, reflects active intervention in the foreign exchange market
 "India's fiscal deficit target of 5.9% for FY24 at risk, warns Nomura")
PM Modi urges states to maintain fiscal discipline, take prudent decisions
The Prime Minister urged the states to proactively use the Gati Shakti Portal not only for infrastructure and logistics but also for local area development and creation of social infrastructure
 "PM Modi urges states to maintain fiscal discipline, take prudent decisions")
Expect RBI to start rate cuts by end of FY24: HDFC Bank chief economist
Abheek Barua said that the Indian economy is expected to grow at 4.4% in the quarter ended March 31
 "Expect RBI to start rate cuts by end of FY24: HDFC Bank chief economist")
Fiscal deficit at 82.8% of Revised Estimates till February: Govt data
Total expenditure of Rs 34.93 trillion for April-February FY23 was 83.4 per cent of the RE
 "Fiscal deficit at 82.8% of Revised Estimates till February: Govt data")
Fiscal deficit touches 82.8% of full-year target in February: Govt data
Out of the total revenue expenditure, Rs 7,98,957 crore was for interest payments and Rs 4,59,547 crore was on account of major subsidies
 "Fiscal deficit touches 82.8% of full-year target in February: Govt data")
Fiscal slippage in FY23 likely as govt seeks to spend Rs 1.5 trillion more
The additional spending demands are led by fertiliser subsidy, defence pensions, allocation for Universal Service Obligation Fund (USOF) and GST compensation to states and UTs
 "Fiscal slippage in FY23 likely as govt seeks to spend Rs 1.5 trillion more")
Centre to daily monitor revenue receipts, expenses to check fiscal deficit
From March 1 onwards, the finance ministry has begun monitoring of revenue receipts like tax collections and even expenses, to control fiscal deficit in the current fiscal
 "Centre to daily monitor revenue receipts, expenses to check fiscal deficit")
FY23 fiscal deficit: FinMin starts daily monitoring of receipts, expenses
The finance ministry has started daily monitoring of the revenue receipts, including tax collections, as well as expenditure beginning March 1, with an aim to keep fiscal deficit in check
 "FY23 fiscal deficit: FinMin starts daily monitoring of receipts, expenses")
Centre's fiscal deficit widens to 67.8% of revised full-year target
Govt capex stays strong, 29% higher in 10 months of FY23
 "Centre's fiscal deficit widens to 67.8% of revised full-year target")
