Tuesday, 19 February, 2019
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Topic: fiscal deficit

An vendor carries a sack of pumpkins at a wholesale market in Chennai

India’s fiscal deficit widens as govt overestimates revenue

India is set to miss budget deficit target for a second straight year by overestimating the income it expects to receive from taxes, asset sales and other sources.
Rajiv Kumar

Time for RBI to cut interest rates, says NITI Aayog’s Rajiv Kumar

Modi govt’s expansionary budget is bound to pose a challenge for RBI Governor Shaktikanta Das, who’s chairing his first Monetary Policy Committee meeting.
A cashier examines Indian rupee banknotes at the Mayuresh Watches and Traders watch and mobile phone store in the Byculla area of Mumbai

How borrowings outside the budget hide the real deficit numbers

A fine print reading of 2019 budget shows off-budget borrowings are on the rise. ThePrint takes a look at what that means.
P Chidambaram

Chidambaram slams interim budget as ‘account for votes’ and not ‘vote on account’

Taking to Twitter after Piyush Goyal presented the interim budget, senior Congress leader P Chidambaram said the NDA missed the fiscal deficit target.

Economists, markets are awaiting Modi govt’s fiscal consolidation roadmap in budget 2019

With low indirect tax collections and failing disinvestment, sticking to fiscal deficit target of 3.3% will be tough for Piyush Goyal.
Finance minister Arun Jaitley (C) and other members of the ministry before tabling the budget in 2018 | Anindito Mukherjee/Bloomberg

India’s next budget may rely on some bogus numbers

Prime Minister Narendra Modi has a reputation for fiscal prudence, so the expectation is that somehow or the other his finance ministry will get the numbers in line.
Indian rupee

Bank recapitalisation bonds increased Centre’s debt to 46.5% of GDP in FY18

Issuance of recapitalisation bonds didn’t increase fiscal deficit, but led to a jump in government liabilities to Rs 77.98 lakh crore.

Modi’s election handouts threaten plan to curb fiscal deficit

Economists predict fiscal deficit to touch 3.5% of GDP this year compared to the targeted 3.3%.
Arun Jaitley

Govt doesn’t need extra funds from RBI to manage fiscal deficit: Arun Jaitley

Finance minister also says extra funds accruing from the new capital framework of RBI can be used for poverty alleviation by future governments.
File image of Subhash Garg | Twitter

Not seeking Rs 3.6-lakh crore reserve transfer from RBI, confirms Economic Affairs Secretary

Subhash Chandra Garg also added the government will stick to the fiscal deficit target of 3.3 per cent for the current financial year.

OnCamera

Illustration by Soham Sen/ThePrint

Blood, bodies and scars: What I saw after the 1983 Nellie massacre in Assam

On the anniversary of the Nellie massacre in Assam, which claimed thousands of lives in a few hours, I recall the horrid sights.

As Pakistan’s leverage with US, China, Saudi Arabia grows, is it even possible to isolate it?

Pakistan signed deals worth $20 billion with Saudi Arabia, even as India vows to isolate the neighbour diplomatically after the Pulwama attack on a CRPF convoy.

Defence

A Rafale fighter aircraft seen during rehearsals for fly-past ahead of the 12th edition of AERO India 2019 at Yelahanka Air Base in Bengaluru

IAF deputy chief and other senior officers set to fly Rafale at Aero India

Even as political slug-fest continues over the deal, IAF is throwing its weight behind Rafale, the first of which is to be delivered in September 2019.
National Interest

Suicidal Pakistan should know Modi may not be scared of its nuclear button

Pakistan has taken too much of a chance with Pulwama — with the wrong government in India, and at the wrong time.