Page 17 - Latest Updates on Fiscal Deficit
Japan to keep FY2025 target for balancing budget in review: Report
The government would bring forward by one year a medium-term forecast of achieving a surplus, to fiscal 2026.
 "Japan to keep FY2025 target for balancing budget in review: Report")
General govt fiscal deficit estimated at 10.4% in FY2022: Report
Rating agency ICRA said it expects a miss in disinvestment target to cause the government's fiscal deficit to print at Rs 16.6 trn or 7.1% of the GDP in FY2022, overshooting the budgeted target.
 "General govt fiscal deficit estimated at 10.4% in FY2022: Report")
Top headlines: Quarantine for flyers from abroad, CCI probe against Google
India climb up the ladder of emerging tech patents, shows data. More in today's top headlines
 "Top headlines: Quarantine for flyers from abroad, CCI probe against Google")
Govt may rein in fiscal deficit at 6.8% of GDP: First advance estimates
The government was given this lever after the first Advance Estimates pegged GDP at current prices at Rs 232.15 trillion
 "Govt may rein in fiscal deficit at 6.8% of GDP: First advance estimates")
India likely to trim fiscal deficit target as Omicron cases rise: Report
FM Sitharaman is due to unveil the FY23 budget on Feb. 1 and officials said the thinking was that sharp cuts in government expenditure could hurt growth prospects
 "India likely to trim fiscal deficit target as Omicron cases rise: Report")
Govt cuts capital expenditure by 41% in Oct, Nov despite FM nudge
May impact growth in Q3 but capex by select states likely to come to some aid
 "Govt cuts capital expenditure by 41% in Oct, Nov despite FM nudge")
India's current account slips into deficit again in September quarter
Wider merchandise trade deficits pulled India's Q2FY22 current account into the negative territory, official data showed on Friday.
 "India's current account slips into deficit again in September quarter")
Third Covid wave jitters: Core sector growth slows to 9-month low in Nov
Centre's fiscal deficit touches 46.2% of annual target till November-end
 "Third Covid wave jitters: Core sector growth slows to 9-month low in Nov")
Centre's fiscal deficit touches 46.2% of annual target till Nov-end
The fiscal deficit had surged to 135.1% of the full-year target during the same period last fiscal year
 "Centre's fiscal deficit touches 46.2% of annual target till Nov-end")
RBI expresses doubts over govt meeting fiscal deficit targets
The government has budgeted for total expenditure of Rs 34.83 lakh crore or 6.8 per cent of GDP
 "RBI expresses doubts over govt meeting fiscal deficit targets")
Govt has managed revenue deficit better than overall fiscal deficit in FY22
This was despite revenue expenditure accounting for 53.7 per cent of Budget Estimates, while capital expenditure was 45.7 per cent during the first seven months of the current financial year
 "Govt has managed revenue deficit better than overall fiscal deficit in FY22")
Best of BS Opinion: Fiscal correction, India's FTA ambitions in perspective
Here is the best of BS Opinion pieces on Tuesday
 "Best of BS Opinion: Fiscal correction, India's FTA ambitions in perspective")
Fiscal correction
Govt should not delay the consolidation process
Budget 2022-23: Centre may not target sharp fiscal correction
Budget-makers are confident that the net tax collection's Budget target (direct plus indirect) of Rs 15.45 trillion will be exceeded
 "Budget 2022-23: Centre may not target sharp fiscal correction")
Net direct tax collection jumps 60.8% to Rs 9.5 trillion in FY22 so far
Improvement in mop-up bodes well for achieving govt's fiscal deficit target at 6.8% of FY22 GDP
 "Net direct tax collection jumps 60.8% to Rs 9.5 trillion in FY22 so far")
Saudi Arabia expects 2022 budget surplus after years of deficit
After an expected fiscal deficit of 2.7% of gross domestic product this year, Riyadh estimates it will achieve a surplus of 90 billion riyals ($23.99 billion), or 2.5% of GDP, next year
 "Saudi Arabia expects 2022 budget surplus after years of deficit")
Statsguru: Six charts explain how states are improving their fiscal health
Further analysis by Business Standard showed that nearly half of all municipal corporations were facing financial stress in 2017-18
 "Statsguru: Six charts explain how states are improving their fiscal health")
Best of BS Opinion: The succession question, growth spending & more
Here is the best of Business Standard's opinion pieces for Thursday
 "Best of BS Opinion: The succession question, growth spending & more")
Growth spending
Govt must push capital expenditure
 "Growth spending")
States improve fiscal position, but local bodies still suffer: RBI report
Covid worsened finances of local govts in 2020-21 and 2021-22; local authorities would lose 15-25% of their revenues in 2021, which may make maintenance of current level of service delivery difficult
