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Speaking to ThePrint, Expenditure Secretary T.V. Somanathan says borrowings through extra-budgetary resources have increased but Modi govt has been transparent in disclosing it.
Moody's said the growth outlook remained weak given the structural and cyclical challenges facing India's economy.
The fiscal deficit for 2019-20 and 2020-21 would have been higher at 4.6% and 4.4% respectively if the govt had not shifted its liabilities out of the budget.
Finance Minister Nirmala Sitharaman can do more on policy and legislative changes that are not related to tax, revenue and expenditure.
In Union budget speech, Nirmala Sitharaman says govt used the deviation allowed in the FRBM Act of 0.5 percentage points in both FY20 and FY21.
In an interview to ThePrint, Sushil Modi says many states favour increasing the state fiscal deficit limit to 3.5% of GSDP from the existing 3%.
Global funds have turned net sellers of India’s sovereign bonds for the first time in four months, as expectations grow of a wider fiscal deficit.
Subhash Chandra Garg says real fiscal deficit could reach 5% of GDP after including off-budget liabilities, so there’s no space for an expansionary budget.
Oil prices rose close to $70 a barrel in international markets after US air strikes killed Qassem Soleimani, an Iranian general.
After demanding $3 bn each from Vodafone and Airtel, and a reported $24 bn from GAIL India, now the govt has sought $2 bn from a fertiliser maker in Gujarat.