Thursday, 26 May, 2022
TopicFiscal deficit

Topic: fiscal deficit

Modi govt seen missing fiscal deficit target for 5th year due to Covid relief, weak revenues

The World Bank said India is particularly vulnerable to sovereign debt and funding risks, especially after the Covid pandemic shuttered businesses and left millions jobless.

Fiscal deficit for 2020-21 at 9.3% of GDP, lower than estimated by finance ministry

The government had initially pegged the fiscal deficit at Rs 7.96 lakh crore or 3.5 per cent of the GDP in the budget presented in February 2020.

Warlike fortification at Delhi borders is lousy politics, shows govt’s paranoia and insenstivity

ThePrint view on the most important issues, instantly.

Budget 2021 takes a historic gamble on growth revival. Hope now on RBI to do the job

An underestimated growth projection could give Modi govt more spending room, while initiatives to improve NPA recovery could prove crucial for India's financial sector.

Pandemic pushes India’s fiscal deficit to 9.5% in 2020-21, estimated at 6.8% in 2021-22

Govt to discontinue practice of Food Corporation of India borrowing from National Small Savings Fund for food subsidy — a means used to hide the true extent of fiscal deficit.

Why Budget 2021 will be different — govt doesn’t need to hide real fiscal deficit this time

Economists are arguing for expansionary Budget, so govt won’t be criticised much for not being prudent. Target should be to boost growth by pushing demand.

Covid likely to leave lasting scars, could lead to higher taxation in future, says RBI 

RBI estimates that gross fiscal deficit of states could cross 4 per cent, and force govts to put investments on hold, leading to a vicious cycle of incurring loss without spurring recovery.

India will not meet its Rs 2.1 lakh crore disinvestment target in 2020-21, DEA secretary says

Govt retains its Rs 12 lakh crore borrowing limit for the full financial year, which means it can borrow Rs 4.34 lakh crore in the second half.

Modi govt’s economic package for J&K is just cosmetic without political stability

There is a serious investment aversion in J&K today and deep uncertainty about the future. Most businesses with loans to pay off are unlikely to survive.

Indian economy contracts by 23.9% in Covid-hit Q1 of 2020-21, fiscal situation worsens

Manufacturing, construction, hotels and transport are among the worst-hit sectors. Tax revenues have contracted by 42% in the April-July period.

On Camera

YourTurn

File photo of Taliban soldiers | ANI

Nothing has changed about Taliban, from terror to Sharia. Islamic world should pressure them

From upholding women’s rights to ensuring safety & internal harmony, the Taliban have backtracked on every promise they made, and the outcome can’t be great.
A petrol pump staffer refills fuel in a two-wheeler in New Delhi, on 29 March 2022 | ANI photo

Modi govt won’t borrow extra this year to fund tax cuts, inflation target to stay at 4%

The cut in excise duty last week, coupled with an increase in fertiliser and food subsidies, is expected to cost the exchequer around Rs 3 lakh crore in the current financial year.

Defence

Naval helicopters | Representational image | indiannavy.nic.in

What’s Combined Military Forces-Bahrain? US-backed coalition India joined on Quad sidelines

India is 35th member of the maritime counterterrorism partnership that also includes Pakistan, Australia, Bahrain, Denmark, Egypt, France, Germany and Greece, among others.

Mandir or Masjid? New surveys not needed, just acceptance of truth & move towards reconciliation

That temples were destroyed and mosques built is undisputed history. The past can’t be changed, but we can’t deny the wrongs of the past either before we consider reconciliation.
×