The number wasn't imported from the Maastricht Treaty, but is a synthesis of the experiences of various countries within and outside the accord
Finance ministry is working out mechanism to release the money, stuck after it sanctioned the amount to other ministries & departments for various projects and schemes, to prop up the sagging economy
The government estimates fiscal deficit in 2016-17 to be Rs 5.33 lakh crore or 3.5% of GDP
The Delhi government has focused its spends on essential services
This fiscal slippage will originate from a decline in tax revenue, a lower nominal GDP and higher expenditure, it said
The gap between the government's revenue and spending stood at Rs 8.07 trillion at the end of November - Rs 1 trillion (13 per cent) more than the full-year target.
In Budget 2020 speech, the FM should state how she intends to return to the 7% track, and the hard decisions she will take to adjust to the realities of a slowing economy, writes T N Ninan
What is more pertinent is the divestment revenue. Of the Rs 1.05 lakh crore budgeted for the year, only 17 per cent have been achieved so far
Government needs a credible consolidation path to rein in debt, including reducing subsidies and boosting the tax base, says IMF.
India's consolidated deficit (the Centre and states combined) is the highest among G20 nations, she added. "So, it's not a free lunch and this has to be very carefully managed," she said
State FMs had met Sitharaman for a pre-Union Budget interaction
For the deficit to be 3.3 per cent of GDP, it assumes a nominal GDP growth of 12 per cent in FY20
They also suggested measures to strengthen cooperation between states and Centre to attain $5 trillion economy
Net collection grows only 0.7% to Rs 6.75 trillion
Subbarao pointed out that the nominal GDP growth has fallen to as low as 6.1%
When it comes to putting equity in business versus putting debt, equity should be more important, he said
The FRBM Act, after its amendment in 2018, allows a fiscal deficit slippage of not more than 0.5% for any given year, provided there are justifications
The MPC underlined the rising consumer price inflation as one of the reasons
Fundamental improvements to the flawed structure needed
RBI waiting for Budget numbers has surprised the bond market