Page 19 - Latest Updates on Fiscal Deficit
How the ounce-of-gold promise US broke is playing out 50 years on
The 1980s then saw the growth of what is called financialisation where firms make money by trading in money rather than goods and services
 "How the ounce-of-gold promise US broke is playing out 50 years on")
Tamil Nadu budget: Fiscal deficit seen at 4.3% of GSDP; tax on petrol cut
State allocates Rs 32,560 cr for education; lines up medium term fiscal plan to tide over rising debt
 "Tamil Nadu budget: Fiscal deficit seen at 4.3% of GSDP; tax on petrol cut")
20 states carrying forward Rs 2.6 trn of debt-money into FY22: Report
Most states are likely to be in better fiscal health this financial year as 20 of them are collectively carrying forward Rs 2.6 lakh crore borrowed in FY21 to this fiscal, says a report.
 "20 states carrying forward Rs 2.6 trn of debt-money into FY22: Report")
IMF says Covid-19 spending pushes current account imbalances higher
The IMF's annual External Sector Report showed that the combined current account deficits and surpluses widened to 3.2% of global economic output in 2020 from 2.8% in 2019
 "IMF says Covid-19 spending pushes current account imbalances higher")
Securing India's fiscal health
Govt should prepare for medium-term challenges
 "Securing India's fiscal health")
Tax buoyancy curtails Centre's fiscal deficit to an eight-year low
Centre's spending showed volatile trend during April-June period
 "Tax buoyancy curtails Centre's fiscal deficit to an eight-year low")
April-June fiscal deficit at Rs 2.74 trn, 18.2% of FY22 Budget Estimates
Net tax receipts in the first three months to end-June rose to Rs 4.12 trn, from Rs 1.35 trn during the same period in the previous fiscal year
 "April-June fiscal deficit at Rs 2.74 trn, 18.2% of FY22 Budget Estimates")
Time to be brave, stretch fiscal deficit targets to aid growth: Kamath
Veteran banker K V Kamath on Friday said it is "time to be brave" for the government, and it should stretch the fiscal deficit target set in the budget if need be, to push growth.
 "Time to be brave, stretch fiscal deficit targets to aid growth: Kamath")
RBI governor warns of downsides to direct financing of govt fiscal deficit
Direct financing or monetisation of the government's fiscal deficit by the central bank has several downsides, Reserve Bank of India Governor Shaktikanta Das said
 "RBI governor warns of downsides to direct financing of govt fiscal deficit")
Fiscal deficit worries could be on backburner: Niti Aayog's Rajiv Kumar
'If you have to spend money because you have to save both lives and livelihoods then that's what you have to do,' he says.
 "Fiscal deficit worries could be on backburner: Niti Aayog's Rajiv Kumar")
RBI should not print money to finance fiscal deficit: Pinaki Chakraborty
High inflation is certainly a concern and there is a need to stabilise inflation to a level which is manageable, he says
 "RBI should not print money to finance fiscal deficit: Pinaki Chakraborty")
Government spending grew 2% YoY in FY21: Motilal Oswal Financial Services
Terming FY21 as an 'exceptional year' Motilal Oswal Financial Services (MOFSL) in a report say government spending grew 2 per cent last fiscal.
 "Government spending grew 2% YoY in FY21: Motilal Oswal Financial Services")
Fiscal deficit at 8.2% in April-May as tax collection rises, lockdowns ease
Deficit was less 30 per cent less of last-year's level amid the nationwide lockdown to contain the coronavirus.
 "Fiscal deficit at 8.2% in April-May as tax collection rises, lockdowns ease")
New pandemic package to raise fiscal deficit by 60 bps, says report
The package can offer an additional liquidity window of Rs 70,000 crore to banks: report
 "New pandemic package to raise fiscal deficit by 60 bps, says report")
Centre should abandon fiscal targets in the time of crisis: CPI (M)
The CPI(M) on Monday said the government can raise money to pay compensation to the families of Covid-19 victims
Rising inflation risk
Ignoring it for long could increase longer-term costs
 "Rising inflation risk")
Govt asks ministries, departments to cut 'controllable' expenditure by 20%
The move comes amid concerns that the fiscal deficit may exceed the FY22 target of 6.8% of GDP
 "Govt asks ministries, departments to cut 'controllable' expenditure by 20%")
US budget deficit soars to $2 tn during first 8 months FY21: Treasury Dept
The US budget deficit soared to $2.1 trillion during the first eight months of fiscal year 2021, which ends on September 30, the Treasury Department reported
 "US budget deficit soars to $2 tn during first 8 months FY21: Treasury Dept")
Fed tapering and emerging markets
The year 2021 will be one of the strongest years for global growth in history
 "Fed tapering and emerging markets")
Statsguru: A decline in growth poses risks to govt's fiscal forecast
While tax collections provided some reprieve, the government seems to be consistently underperforming on the disinvestment side.
 "Statsguru: A decline in growth poses risks to govt's fiscal forecast")
