Page 8 - Latest Updates on Fiscal Deficit
RBI cautions states with over 4% fiscal deficit, urges tax reforms
Says returning to OPS would put substantial burden on finances
 "RBI cautions states with over 4% fiscal deficit, urges tax reforms")
Govt limits additional spending to Rs 58,378 crore, eyes fiscal prudence
The government has set a fiscal deficit target of 5.9 per cent of GDP for FY24
 "Govt limits additional spending to Rs 58,378 crore, eyes fiscal prudence")
Nine states, 2 UTs see rising fiscal deficits post-pandemic: PHDCCI report
"States are classified as resilient if their fiscal deficit as a percentage of GSDP has decreased from the pre-pandemic to the post-pandemic period," the report says
 "Nine states, 2 UTs see rising fiscal deficits post-pandemic: PHDCCI report")
India's fiscal deficit between Apr-Oct 45% of FY24 target of Rs 17.87 trn
Between April and October this year, the fiscal deficit was recorded at Rs 8.04 trillion as compared to Rs 7.57 trillion in the same period last year
 "India's fiscal deficit between Apr-Oct 45% of FY24 target of Rs 17.87 trn")
Israeli 'Government CFO' managing $48 billion fiscal shock of Gaza war
The war, which the Finance Ministry estimates is costing the economy around $270 million every day, will come with a fiscal price tag estimated at 180 billion shekels ($48 billion) in 2023-2024
 "Israeli 'Government CFO' managing $48 billion fiscal shock of Gaza war")
India's gross tax receipts remain robust; fiscal deficit at Rs 7.02 trn
Upward trend mainly due to spike in corporation tax mop-up
 "India's gross tax receipts remain robust; fiscal deficit at Rs 7.02 trn")
Govt's fiscal deficit rises to 39.3% of annual target in H1 of FY24
The fiscal deficit was 6.4 per cent of the GDP in 2022-23 against the earlier estimate of 6.71 per cent
Fiscal balance
Geopolitical tensions have increased risks
 "Fiscal balance")
India likely to meet 5.9% fiscal deficit target in FY24, says IMF
Earlier, this month, India hiked the cooking gas subsidy for low income households to 300 rupees per cylinder from 200 rupees announced in August
 "India likely to meet 5.9% fiscal deficit target in FY24, says IMF")
India's debt to GDP ratio to peak at 82.3% in FY25, fall in FY29, says IMF
The IMF's present estimates mark a notable deviation from its April projections
 "India's debt to GDP ratio to peak at 82.3% in FY25, fall in FY29, says IMF")
TMS Ep538: Fiscal balance, Ceat's Arnab Banerjee, glacial lake outburst
Will polls pose a danger to India's fiscal balance? What is Arnab Banerjee's view on Ceat's quality management? How will Israel-Hamas war impact markets? What is glacial lake outburst? Answers here
 "TMS Ep538: Fiscal balance, Ceat's Arnab Banerjee, glacial lake outburst")
Beyond the bond market's message
Unlike in the past, when India and other developing markets caught a cold when the US sneezed, the situation is somewhat different now
 "Beyond the bond market's message")
No major problem with central govt finances: RBI governor Shaktikanta Das
He said the government is, by and large, sticking to the fiscal consolidation roadmap after the end of the pandemic, which had seen some expansion because of the high spending
 "No major problem with central govt finances: RBI governor Shaktikanta Das")
India's fiscal deficit rises to Rs 6.42 trillion, 36% of FY24 target
In the same period in FY23, the deficit was 32.6 per cent of the full-year target
 "India's fiscal deficit rises to Rs 6.42 trillion, 36% of FY24 target")
Top headlines: India's economy 16.5 yrs behind China, Inflation a key issue
Business Standard brings you the top headlines at this hour
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
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")
