Misery is the highest in countries known for economic mismanagement: Turkey, Argentina, South Africa. Next come Russia, Brazil, Pakistan and Egypt. And then India, notes T N Ninan
Robust revenue collection and higher nominal GDP, however, led to an improved fiscal deficit at 6.7 per cent in FY22 against the 6.9 per cent estimated
The government has pegged the combined fiscal shortfall at 9.8 per cent of which the central deficit is seen at 6.4 per cent (down from 6.7 per cent in FY22) and states' at 3.4 per cent for FY23.
If the burden does hit Rs 2.5 trillion, that would mean extra spending of around Rs 35,000 crore
April saw revenue surplus of Rs 591 crore
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Fiscal deficit at 6.71% of GDP in FY22 as against revised budget estimate of 6.9%, shows govt data
The tax reduction on petrol and diesel will lead to revenue loss of around Rs 1 lakh crore per year for the government
The recent EV scooter fires were caused by defects in their batteries, including in the designs of the battery packs and modules, a DRDO report said. Read more in our top headlines.
The impact of Saturday's excise duty cuts will be Rs 1 trillion for a year, Finance Minister Nirmala Sitharaman had said
Rising energy and food prices will put renewed pressure on fiscal deficits, IMF First Deputy Managing Director Gita Gopinath said in a tweet.
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In actual terms, the deficit stood at Rs 13.16 trillion at the end of February this year, as per the data released by the Controller General of Accounts
Finance Minister Nirmala Sitharaman has pegged the Centre's capex for FY23 at Rs 7.5 trillion
A feeble impact is already being felt, and if the conflict stretches way beyond March, it could have implications on growth, inflation, fiscal deficit and current account deficit
Ex finance minister Yashwant Sinha said huge expenditure on welfare schemes by Modi govt has impacted public finances which are currently in a mess with fiscal deficit touching abnormally high level
Revenue expenditure was Rs 23.68 trillion, or 74.7% of RE compared with 71.6%
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In actual terms, the deficit was Rs 9.37 trillion at end-January 2022 against upwardly revised annual estimate of Rs 15.91 trn
For two years running, the finance ministry has excused itself from providing a projection of its fiscal consolidation plan