Fiscal

Adani Wilmar, which is into edible oil and other food businesses, on Thursday said it achieved nearly 14 per cent growth in volume in the last fiscal, helping the company's revenue to cross Rs 55,000 crore. The company's total income stood at Rs 54,327.16 crore in the previous year. Adani Wilmar sells edible oil and other food products under Fortune brand. In a regulatory filing, Adani Wilmar said, "the company continued its growth story with year-on-year volume growth of close to 14 per cent in FY23, which enabled it to cross Rs 55,000 crore of revenue for the year." The company made good progress in scaling up its operations and gaining market share across food products, it added. "The food business is scaling up well in-line with our expectations. We have been making good progress in all enablers like sourcing, manufacturing, distribution, brand building and strengthening the teams for the new products. "We closed the financial year 2023 with around Rs 3,800 crore of revenue i

Procurement of goods and services from government portal GeM is expected to cross Rs 2 lakh crore during this fiscal year on account of an increase in buying activities by different ministries and departments, a top official said on Wednesday. The procurement crossed Rs 1.5 lakh crore on February 1. CEO of the Government e-Market (GeM) P K Singh said huge potential is there in states and public sector undertakings to increase the buying from the platform. "After crossing Rs 1.5 lakh crore, we are aspiring for Rs 2 lakh crore for the full fiscal," Singh told reporters here. The portal was launched on August 9, 2016, for online purchases of goods and services by all the central government ministries and departments. He said the portal has over 66,000 government buyer organisations and more than 58 lakh sellers and service providers offering a diverse range of goods and services. He added that through automation and digitisation of processes, GeM has led to higher process efficienci

But financial considerations remain, especially if disinvestment receipts don't meet Budget target

India today is focusing on infrastructure led capital spending aimed at enhancing productivity and employment while ensuring fiscal prudence with 'targeted' interventions: Ajay Seth

Indian economy is expected to grow 7.17.6 per cent in the current financial year despite shifting geopolitical realities across the world, a report said on Wednesday.

Analysts predict that if a slowdown does happen by 2022-end, the impact will be seen only in second half of FY23

India Ratings has said five states, led by Punjab, are on the brink of a deep fiscal crisis as their subsidies are much higher than sustainable levels in terms of a percentage of GSDP

The survey expectations for the next fiscal year are conservative compared to the 9% expansion seen by IMF.

The Indian economy will contract by 9 per cent in 2020-21 as the coronavirus infections are yet to peak and the government is not providing adequate direct fiscal support, ratings agency Crisil said

Central & state govts combined expenditure exceeded revenues by around 7.5% of GDP in 2019

The fiscal multiplied impact of higher government consumption spending is coupled with signal to household sector to spend more

The total budgeted expenditure of the central government for 2019-20 is Rs 27.86 trillion.

Tax receipts are expected to fall by Rs 2.5 trillion which may also be caused by the corporation tax and GST rate cuts

If taxes fall short, it should not be covered up

Fight against the last vestiges of inflation threatens to undo significant policy gains of recent years

Strengthening domestic demand will offset weaker export growth

Deficit spike in first half but revenue expected to pick up in second half; no spending cuts envisaged, assure officials

States' share in Union taxes has substantially gone up after implementation of the 14th Finance Commission report

The net borrowings from market in next fiscal would be Rs 4.2 lakh cr, down from Rs 4.4 lakh cr in the current fiscal

Some factors include narrow 'own-source' revenue, mandate to help clear debt of state owned enterprise (SoEs) in power sector and pressure to raise wages