Page 12 - Latest Updates on Fiscal Deficit
On track to meet FY23 fiscal deficit target, inflation within RBI band: FM
'We'll bring inflation down further for the sake of common people', said FM Nirmala Sitharaman
 "On track to meet FY23 fiscal deficit target, inflation within RBI band: FM")
Budget 2023: How technology may help achieve the impossible trinity
Experts have requested FM Sitharaman for a cut in income tax rates, increase in expenditure, and fiscal consolidation
 "Budget 2023: How technology may help achieve the impossible trinity")
Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget
This means the government will stick to its fiscal consolidation road map, which envisages a deficit of 4.5 per cent of GDP by FY26
 "Finance ministry likely to target fiscal deficit of 5.5-6% in FY24 Budget")
Govt on track to meet fiscal deficit target of 6.4% for current FY: Report
The central govt is on track to meet its fiscal deficit target of 6.4 per cent of the GDP for 2022-23 on the back of strong growth in revenue collections, the World Bank said
 "Govt on track to meet fiscal deficit target of 6.4% for current FY: Report")
Top Headlines: Tax benefits to SEZs, Parliament's winter session and more
Business Standard brings you the top headlines at this hour
 "Top Headlines: Tax benefits to SEZs, Parliament's winter session and more")
Centre still hopeful on 6.4% fiscal deficit on back of tax revenue gains
The net tax revenue budget estimate for FY23 was Rs 19.35 trillion; a boost of Rs 4.5 trillion would take the revised estimates to Rs 23.85 trillion
Centre's fiscal deficit touches 45.6% of Budget target till October
With the GDP numbers out, the deficit stood at 4.7 per cent of GDP in the first six months of FY23
 "Centre's fiscal deficit touches 45.6% of Budget target till October")
Demand for musical instruments up; Chennai, Kolkata rank as top exporters
India exported $22 million worth of musical instruments and their accessories in the first half of the current fiscal year, as compared to $38.5 million in the previous year
 "Demand for musical instruments up; Chennai, Kolkata rank as top exporters")
Budget 2023-24: Stay on fiscal glide path, economists advise FM Sitharaman
The Finance Ministry was also urged to continue with long term loans to states to support their capex programs, and give them more leeway to spend, in order to boost growth
 "Budget 2023-24: Stay on fiscal glide path, economists advise FM Sitharaman")
Centre confident of meeting fiscal deficit target for FY23: Report
Centre expects the gross tax revenue to be "at least" Rs 3-3.5 trillion above the FY23 target of Rs 27.6 trillion
 "Centre confident of meeting fiscal deficit target for FY23: Report")
India's CAD pegged at 3-3.2% of GDP in FY23: CEA V Anantha Nageswaran
'India's annual import cover comfortable; IMF does not consider external sector to be in a zone of vulnerability'
 "India's CAD pegged at 3-3.2% of GDP in FY23: CEA V Anantha Nageswaran")
Abolish exemptions
Instead of reducing tax rates, Budget 2023 should take steps to reverse the decline in tax buoyancy
 "Abolish exemptions")
Best of BS Opinion: Voting against self-interest, fiscal deficit, and more
Here is the best of Business Standard's opinion pieces for today:
 "Best of BS Opinion: Voting against self-interest, fiscal deficit, and more")
Something deficient in fiscal deficit
GDP alone isn't an adequate measure to calculate a safe level of budget deficit. Population also has to be worked into the method. It is just common sense
Better tax collection to help meet FY23 fiscal target of 6.4%: Report
The report also noted that it was expecting the government to undershoot the fiscal deficit target when the budget was presented at 6%
 "Better tax collection to help meet FY23 fiscal target of 6.4%: Report")
Best of BS Opinion: Managing expectations, the state of states & more
Here is the best of Business Standard's opinion pieces for today
Best of BS Opinion: Empowering Gati Shakti, quiet quitting, and more
Here is the best of Business Standard's opinion pieces for today
 "Best of BS Opinion: Empowering Gati Shakti, quiet quitting, and more")
Fiscal correction: Focus should be on reducing the fiscal deficit
The govt would do well to be cautious and resist the temptation of increasing expenditure in the run-up to the Lok Sabha elections because the economy is likely to slow in the second half of the year
Centre's fiscal deficit in H1 touches 37.3% of full-year target
The Centre is hopeful of keeping the fiscal deficit at 6.4 per cent of nominal GDP in FY23
 "Centre's fiscal deficit in H1 touches 37.3% of full-year target")
April-Sept fiscal deficit at 37% of FY23 target, net tax receipts Rs 10 trn
Net tax receipts rose to Rs 10.12 trillion while total expenditure was Rs 18.24 trillion, the data showed
