Fiscal

Adani Wilmar clocks 14% growth in volume in FY23; revenue at Rs 55,000 cr

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

Public procurement via GeM portal to cross Rs 2 trillion in FY23: Official

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

Centre may have enough stocks to run free grain scheme this financial year

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

Structural reforms keep economic recovery on course, says DEA secy

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 projected to grow 7.1-7.6% in current fiscal: Report

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.

IT analysts in wait-and-watch mode as experts see mild recession in the US

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

States doling out competitive subsidies on brink of fiscal collapse: Report

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

Economic Survey: Govt sees scope for retaining world-beating economy tag

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

FY21 GDP to contract 9%; govt not providing enough fiscal support: Crisil

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

India's fiscal gap one of the highest in emerging markets: Report

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

Budget consistent with fiscal strategy; aimed at boosting demand

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

Govt's fiscal woes likely to climb as gross spending to rise by 20%: Report

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

Over-estimation of GDP numbers in Budget disturb fiscal calculations

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

Come clean on the fisc

If taxes fall short, it should not be covered up

The stimulus should be monetary, not fiscal

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

India set to grow at 7.2% this fiscal on rising consumption: ADB

Strengthening domestic demand will offset weaker export growth

Govt confident on fiscal deficit target

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

Centre asks states to raise capex; focus on rural, infra

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

Finance Ministry, RBI to meet on March 18 to decide FY17 borrowing

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

State govts may face fiscal shocks in coming months: Deutsche Bank

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