Tuesday, 29 November, 2022
TopicFiscal deficit

Topic: fiscal deficit

Modi govt has tried to stimulate economy without creating future crisis: Expenditure Secy

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 says Modi govt’s 10% GDP growth projection ambitious, scales it down to 8.7%

Moody's said the growth outlook remained weak given the structural and cyclical challenges facing India's economy.

Small savings fund, off-budget borrowings rescue Modi govt again on fiscal deficit

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.

No big fiscal stimulus in Nirmala Sitharaman’s Budget 2020, but govt can still do it later

Finance Minister Nirmala Sitharaman can do more on policy and legislative changes that are not related to tax, revenue and expenditure.

Nirmala Sitharaman raises FY20 fiscal deficit projection to 3.8%, FY21 target set at 3.5%

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.

Bihar Deputy CM Sushil Modi wants states to spend, borrow more to battle economic slowdown

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%.

Foreigners are dumping Indian bonds fearing widening fiscal deficit

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.

Time for India to come clean on fiscal deficit numbers: Ex-finance secretary Subhash Garg

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.

How Modi govt’s budget could be affected by US air strikes to kill Iranian general

Oil prices rose close to $70 a barrel in international markets after US air strikes killed Qassem Soleimani, an Iranian general.

$30 billion and counting: Modi govt eyes telecom & other firms to meet fiscal deficit target

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.

On Camera

YourTurn

Representational image of workers at a construction site | ANI

GDP data this week will indicate FY23 outlook. But analysis shows growth still below pre-Covid yrs

Analysis of industrial & consumer data not included in usual ‘high-frequency indicators’ shows although demand seems to have recovered from pandemic, it remains weak.

Defence

Illustration: Soham Sen | The Print

Modi govt moves with Arunachal Frontier Highway, among India’s ‘toughest’ projects yet, China in mind

The 2,000 km-long highway will be of strategic importance to military. Same equipment used on other side of LAC being deployed to carry out work on tough terrain, say officials.

A Gujarat gamble: A likely reason Rahul is not giving Modi a fight this assembly election

I'd rather not buy idea that Rahul's holding his fire until 2024. More likely, Congress believes Karnataka offers best chance of winning a Gujarat-sized state if Gujarat is too challenging.