Page 4 - Latest Updates on Fiscal Deficit
Budget 2023-24: Stay on fiscal glide path, economists advise FM Sitharaman
The Finance Ministry was also urged to continue with long term loans to states to support their capex programs, and give them more leeway to spend, in order to boost growth
 "Budget 2023-24: Stay on fiscal glide path, economists advise FM Sitharaman")
Centre confident of meeting fiscal deficit target for FY23: Report
Centre expects the gross tax revenue to be "at least" Rs 3-3.5 trillion above the FY23 target of Rs 27.6 trillion
 "Centre confident of meeting fiscal deficit target for FY23: Report")
India's CAD pegged at 3-3.2% of GDP in FY23: CEA V Anantha Nageswaran
'India's annual import cover comfortable; IMF does not consider external sector to be in a zone of vulnerability'
 "India's CAD pegged at 3-3.2% of GDP in FY23: CEA V Anantha Nageswaran")
Abolish exemptions
Instead of reducing tax rates, Budget 2023 should take steps to reverse the decline in tax buoyancy
 "Abolish exemptions")
Best of BS Opinion: Voting against self-interest, fiscal deficit, and more
Here is the best of Business Standard's opinion pieces for today:
 "Best of BS Opinion: Voting against self-interest, fiscal deficit, and more")
Something deficient in fiscal deficit
GDP alone isn't an adequate measure to calculate a safe level of budget deficit. Population also has to be worked into the method. It is just common sense
Better tax collection to help meet FY23 fiscal target of 6.4%: Report
The report also noted that it was expecting the government to undershoot the fiscal deficit target when the budget was presented at 6%
 "Better tax collection to help meet FY23 fiscal target of 6.4%: Report")
Best of BS Opinion: Managing expectations, the state of states & more
Here is the best of Business Standard's opinion pieces for today
Best of BS Opinion: Empowering Gati Shakti, quiet quitting, and more
Here is the best of Business Standard's opinion pieces for today
 "Best of BS Opinion: Empowering Gati Shakti, quiet quitting, and more")
Fiscal correction: Focus should be on reducing the fiscal deficit
The govt would do well to be cautious and resist the temptation of increasing expenditure in the run-up to the Lok Sabha elections because the economy is likely to slow in the second half of the year
 "Fiscal correction: Focus should be on reducing the fiscal deficit")
Centre's fiscal deficit in H1 touches 37.3% of full-year target
The Centre is hopeful of keeping the fiscal deficit at 6.4 per cent of nominal GDP in FY23
 "Centre's fiscal deficit in H1 touches 37.3% of full-year target")
April-Sept fiscal deficit at 37% of FY23 target, net tax receipts Rs 10 trn
Net tax receipts rose to Rs 10.12 trillion while total expenditure was Rs 18.24 trillion, the data showed
India macro indicators may return to FY20 levels by FY27, says IMF
Although China's debt to GDP ratio is projected to remain at 76.9 in 2022, it is projected to overtake India's ratio in 2024 at 89.8 and continue to increase further to 102.8 in 2027
 "India macro indicators may return to FY20 levels by FY27, says IMF")
Germany cuts fiscal deficit in overall budget as Covid measures expire
Germany cut its fiscal deficit in the overall public budget to 32.9 billion euros in the first half of this year, the Federal Statistical Office (Destatis) said
 "Germany cuts fiscal deficit in overall budget as Covid measures expire")
Taxes to come to govt's aid, achieve 6.4% fiscal deficit goal for FY23
Centre has already collected half the targeted revenue in the first six months of the current financial year even as customs and excise duty collection figures are yet to come in
 "Taxes to come to govt's aid, achieve 6.4% fiscal deficit goal for FY23")
World Bank slashes India's economic growth forecast to 6.5% for FY23
Cites Ukraine war, global policy tightening
 "World Bank slashes India's economic growth forecast to 6.5% for FY23")
Finance ministry confident of keeping FY23 fiscal deficit in check
Robust tax mop-up, savings through SNA dashboard bode well for balance sheet, say officials
 "Finance ministry confident of keeping FY23 fiscal deficit in check")
India's April-August fiscal deficit recorded at 32.6% of FY23 target
Sabnavis said the progress till August shows that the government's accounts are on course compared with last year
 "India's April-August fiscal deficit recorded at 32.6% of FY23 target")
Fiscal deficit touches 32.6% of annual target till August this fiscal
As per the data released by the Controller General of Accounts (CGA), the government's total receipts, including taxes, stood at Rs 8.48 trn or 37.2 per cent of the Budget Estimates (BE)
 "Fiscal deficit touches 32.6% of annual target till August this fiscal")
S&P affirms Kerala's 'BB-/B' rating, gives outlook stable to state
Deficits resulting from spending on socio-economic programmes constrain ratings for the state: Agency
 "S&P affirms Kerala's 'BB-/B' rating, gives outlook stable to state")
