Fiscal Deficit

May 31, 2023 05:19 PM IST

Centre meets FY23 fiscal deficit target of 6.4% of GDP

In absolute terms, the central government's fiscal deficit in 2022-23 was Rs 17.33 lakh crore as against the revised estimate of Rs 17.55 lakh crore.

Fiscal deficit target at risk, Nomura warns despite RBI's Rs 87,416 crore dividend to govt

Concerns have been raised by Nomura Research regarding the achievement of the fiscal deficit target of 5.9% of GDP for the fiscal year 2023-24.

Must sustain fiscal consolidation to rebuild policy buffers, ensure debt sustainability, RBI says

Digitisation could aid in greater formalization, widening the tax base to generate necessary resources to undertake developmental expenditure, the RBI says in its annual report.

Interview: Fitch sees India doing all it can to cut fiscal deficit to 4.5% by FY26

According to Jeremy Zook, Fitch’s primary rating analyst for India, India’s revenue growth may soon plateau and require fiscal consolidation to be supported by expenditure cuts

Can Karnataka afford Congress' Rs 50,000 crore worth of promises?

India's Grand Old Party romped home to victory in the Karnataka assembly elections. But it must now deliver on its poll promises amid concerns about their cost.

Govt will meet fiscal deficit aim as no risk of subsidies slippage: Fin Min official

“If inflation is 5 percent and GDP growth is likely at 5.5 percent, nominal GDP growth of 10.5 percent is likely with a tax buoyancy of 1. The government is not optimistic but realistic."

Sacrifice short-term growth to secure long-term prospects: Viral Acharya tells govt, MPC

Acharya, formerly a deputy governor with the Reserve Bank of India, said India had slipped up on the fiscal deficit and inflation in recent years

Key events next week: India fiscal deficit and core sector data, US and Eurozone Q1 GDP and more

Here are the key economic events in India and from around the world to get you started for next week.

Fiscal deficit widens to 83% of FY23 target at Rs 14.54 lakh crore

The Central government has set itself a revised fiscal deficit target of Rs 17.55 lakh crore for the current financial year. However, as a percentage of the GDP, the full-year target remains at 6.4 percent.

Centre to borrow Rs 8.88 lakh crore via bonds in first half of 2023-24

The government does not plan to issue any Green Bonds in April-September, the finance ministry said

India may have to cut capex in FY24 as revenue assumptions may be inflated: Fitch Ratings

In her budget speech, Finance minister Nirmala Sitharaman had announced a 33 percent increase in capital expenditure for FY24, with a record Rs 10 trillion for infrastructure development.

Biden's $6.8-trillion budget challenges Republicans, raises taxes on rich

Total US debt would rise to nearly 110 percent of annual gross domestic product in 2033, a figure that rivals the peaks during the country's mobilisation for World War II

Fiscal deficit widens to 67.8% of FY23 target at Rs 11.91 lakh crore till Jan

The Centre is targeting a fiscal deficit of Rs 17.55 lakh crore for the current financial year, or 6.4 percent of the GDP

Rising US deficit a worry, but Warren Buffett puts stock in 'American tailwind'

The oracle of Omaha is concerned about America's rising deficit but also believes that a long-term bet against America makes no sense.

FY24 RBI dividend aim seen close to Rs 30,000 crore - India confident of meeting FY23 fiscal deficit target

The government will be sticking to FY23 deficit aim even if divestment receipts fall short of the Rs 50,000 crore revised aim for this financial, sources informed CNBC-TV18.

UPI of governance – How the Single Nodal Agency model streamlined public finances

The Single Nodal Agency model is less than two years old but already has had a visible impact on public finances

Pandemic, loan waivers, slowing growth increase states’ debt. Find out those with high burden

States’ finances have been under the spotlight amid an ongoing debate on freebies.

Why Budget 2023 is like a Curate’s Egg

With RBI projecting an inflation of 5 percent in June 2023, the probability of the 10-year government bond yield heading lower exists

Budget 2023: Was fiscal consolidation in focus?

Budget 2023: What CLSA, Morgan Stanley and other top international brokerages said

Budget 2023 showcased Modi government's intent of pushing economic growth while staying committed to the fiscal consolidation path. The changes to new income tax regime could provide some consumption push.

Budget 2023: A blueprint of how to boost growth prudently

But the elevated borrowing level may exert upward pressure on sovereign yields, against a backdrop of rising demand for bank credit 

Budget 2023: Govt holds capex baton again, amid tardy private capex

The big bang spend in public sector capex implies a large fiscal multiplier effect on construction and civil works and on employment

Budget 2023: A breakdown of key numbers projected for next fiscal

Finance Minister Nirmala Sitharaman wants to retain the Centre's focus on reviving the economy. But what do the Budget numbers say?

Budget 2023 | Centre to borrow record Rs 15.43 lakh crore via bonds in FY24

Union Budget 2023: The Centre's borrowing is among the most important determinants of interest rates in the economy. Higher-than-expected government borrowings can push up rates for all bond issuers, sovereign and corporate

Budget 2023: FM retains revised estimate for fiscal deficit at 6.4% of GDP for FY23, FY24 aim at 5.9%

The government's fiscal deficit had widened to Rs 9.78 lakh crore in the April-November period, accounting for 58.9% of the full-year target, data released on December 30 by the Controller General of Accounts showed