Page 24 - Latest Updates on Fiscal Deficit
Budget 2021 may show Centre's fiscal deficit at 5.5% of GDP for FY22
The significant shortfall in receipts is likely to lead to the doubling of fiscal deficit to an estimated 6.9 per cent of GDP in FY21
 "Budget 2021 may show Centre's fiscal deficit at 5.5% of GDP for FY22")
Best of BS Opinion: Feasible fiscal path, inadequate cover, and more
Here's a selection of Business Standard opinion pieces for the day
 "Best of BS Opinion: Feasible fiscal path, inadequate cover, and more")
Feasible fiscal path
Quality of expenditure shouldn't be compromised
 "Feasible fiscal path")
Fiscal deficit of states to hit peak of Rs 8.7 trn as tax collections slide
The Covid pandemic-induced lockdown and consequent slump in economic activity will hit tax collections of states, Crisil said
 "Fiscal deficit of states to hit peak of Rs 8.7 trn as tax collections slide")
Banking on Budget: The five areas of focus for FM Nirmala Sitharaman
Given the series of policy announcements made by Finance Minister Nirmala Sitharaman in the last 9 months it is reasonable not to expect more this time
 "Banking on Budget: The five areas of focus for FM Nirmala Sitharaman")
What FM Sitharaman may and may not do in her promised 'never-before' Budget
Wish lists are routine as the govt prepares its annual Budget. But its finances are stretched and the pandemic isn't over. Akash Podishetty lists what the FM could announce in the Budget on Feb 1
 "What FM Sitharaman may and may not do in her promised 'never-before' Budget")
No high inflation or fiscal crisis in the US but …
Monetary base issued by the Fed had jumped from less than $1 trn before the GFC to more than $3 trn by early 2020 and then to about $5 trn by end of the year. But inflation has hardly gone up. Why?
Budget 2021: Govt likely to target fiscal deficit at 4% of GDP by FY26
Centre to deviate from long-standing medium-term target of 2.5-3% of GDP
 "Budget 2021: Govt likely to target fiscal deficit at 4% of GDP by FY26")
Ease fiscal deficit, look at higher spend for future: Assocham President
Infra spending has thrice the desired impact, govt's Rs 111 trn National Infrastructure Pipeline should be speeded up, says Vineet Aggarwal
 "Ease fiscal deficit, look at higher spend for future: Assocham President")
Financing the vaccine
Any cess or surcharge should be one-time
 "Financing the vaccine")
FY21 fiscal deficit seen at 7.4% of GDP: State Bank of India report
This comes amid enhanced government expenditure amid the pandemic, said the SBI report
 "FY21 fiscal deficit seen at 7.4% of GDP: State Bank of India report")
Fiscal deficit to hit 6.1% of GDP in FY21: Govt's first advance estimates
The National Statistical Office on Thursday estimated nominal GDP at Rs 194.8 trillion - a 4.2 per cent contraction over the previous fiscal year
 "Fiscal deficit to hit 6.1% of GDP in FY21: Govt's first advance estimates")
Political economy of fiscal responsibility
The economy requires a fiscal battle plan and this, in turn, requires a fiscal responsibility framework
India's fiscal deficit likely to be over 7% in 2020/21: Report
A fiscal deficit of more than 7% would be higher than some private economists have projected
Banking on Budget: Hope and reforms amid pandemic and fiscal deficit
The government has taken laudable steps to support and propel the economy in these difficult times, but a lot more still needs to be done, writes Vikas Vasal
 "Banking on Budget: Hope and reforms amid pandemic and fiscal deficit")
FinMin releases Rs 6K crore to states to meet GST compensation shortfall
The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 trillion in revenue arising on account of implementation of GST
 "FinMin releases Rs 6K crore to states to meet GST compensation shortfall")
Centre's debt touches 56.2% of GDP in first half of FY21, shows data
Outstanding debt was Rs 107.04 trn, 13.12% more than Rs 94.62 trn at FY20-end
 "Centre's debt touches 56.2% of GDP in first half of FY21, shows data")
Fiscal deficit at 135% of BE on higher capex; spending in Nov rises 250%
This is despite a reasonable pick-up in tax revenues during the month as economic activity gradually reverts to normalcy amid the pandemic
 "Fiscal deficit at 135% of BE on higher capex; spending in Nov rises 250%")
India's April-November fiscal deficit tops 135% of full-year target
Net tax receipts were 6.88 trillion rupees, while total expenditure came to 19.06 trillion rupees
 "India's April-November fiscal deficit tops 135% of full-year target")
Interest rates on small savings kept unchanged for fourth quarter of FY21
The rates have not been changed since September 1, 2020; status quo to help Centre raise additional resources, says Icra economist
 "Interest rates on small savings kept unchanged for fourth quarter of FY21")
