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Centre`s fiscal deficit touches 33.9% of the full-year target at July-end: CGA The data released by the Controller General of Accounts (CGA) has showed that the Centre's fiscal deficit in the first four months of 2023-24 touched 33.9 per cent of the full-year target. In absolute terms, the fiscal deficit -- the gap between expenditure and revenue -- was Rs 6.06 lakh crore as of July-end. The deficit stood at 20.5 per cent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23. In the Union Budget, the government projected to bring ...
Centre`s fiscal deficit touches 33.9% of the full-year target at July-end: CGA
Centre`s fiscal deficit touches 33.9% of the full-year target at July-end: CGA
Source: Accord Fintech
1/09/2023 12:56:23 PM
Centre`s fiscal deficit touches 25.3% of full-year target at end-June: CGA The Controller General of Accounts (CGA) in its latest data has said that the Centre’s fiscal deficit at the end of the first quarter of current financial touched 25.3 per cent of the full-year target. In absolute terms, the fiscal deficit - the gap between expenditure and revenue - was Rs 4,51,370 crore as of end-June. The deficit stood at 21.2 per cent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23. In the Union Budget, the government project...
Centre`s fiscal deficit touches 25.3% of full-year target at end-June: CGA
Centre`s fiscal deficit touches 25.3% of full-year target at end-June: CGA
Source: Accord Fintech
1/08/2023 10:35:00 AM
Fiscal deficit touches 25.3% of full year target, stands at Rs 4.51 lakh crore for April-June period The government's fiscal deficit for April-June period stood at 25.3 per cent of the full-year target, according to data released by Controller General of Accounts (CGA) on Monday. The fiscal deficit, which is the gap between expenditure and revenue, was Rs 4,51,370 crore as of end-June, the data said. The government, during the union budget, had announced that it plans to cut down fiscal deficit to 5.9 per cent of the GDP in 2023-24. The deficit was 6.4 per cent of the GDP in 2022-2...
Fiscal deficit touches 25.3% of full year target, stands at Rs 4.51 lakh crore for April-June period
Fiscal deficit touches 25.3% of full year target, stands at Rs 4.51 lakh crore for April-June period
Source: IANS
31/07/2023 6:27:00 PM
India's April-June fiscal deficit at 25.3% of annual target India's fiscal deficit for the first three months of the financial year that started April 1 touched 4.51 trillion Indian rupees ($54.86 billion), 25.3% of annual estimates, government data showed on Monday. April-June net tax receipts were 4.3 trillion rupees, or 18.6% of the annual estimate, lower than 5.06 trillion rupees in the same period last year, according to the data. Total expenditure during the period was 10.51 trillion rupees ,or 23.3% of the annual goal, lower than the ...
India's April-June fiscal deficit at 25.3% of annual target
India's April-June fiscal deficit at 25.3% of annual target
Source: Reuters
31/07/2023 4:36:54 PM
Rupee strengthens against US dollar on Thursday Indian rupee strengthened against the US dollar on Thursday on account of firm macroeconomic data. India's economy grew by 6.1% in the last quarter of 2022-23 fiscal, up from a revised 4.5% in the previous quarter, government data showed. Meanwhile, the Centre's fiscal deficit narrowed to 6.4% of the GDP in 2022-23 from 6.71% in FY22. Rupee improved further on sustained foreign fund buying and firm domestic equities following news that the US House of Representatives has passed the US...
Rupee strengthens against US dollar on Thursday
Rupee strengthens against US dollar on Thursday
Source: Accord Fintech
1/06/2023 12:15:35 PM
India`s current account deficit to narrow to $53 bn in FY24: Acuite Ratings Credit rating agency Acuite Ratings & Research said it expects India's current account deficit to narrow to $53 billion in FY24. In a report, Acuite Ratings said India's current account deficit for FY24 is expected to narrow to $53 billion in FY24 bn (1.4 per cent of gross domestic product-GDP) -- compared to a level of about 2 per cent of GDP in FY23. India's merchandise trade balance started FY24 on a comforting note, with the deficit narrowing to a 20-month low of $15...
India`s current account deficit to narrow to $53 bn in FY24: Acuite Ratings
India`s current account deficit to narrow to $53 bn in FY24: Acuite Ratings
Source: Reuters
17/05/2023 3:08:18 PM
India economic growth seen stuck in low gear India's economy will slow considerably this fiscal year as the global economic slowdown impedes domestic growth prospects, according to a Reuters poll, which showed inflation will remain elevated despite recent interest rate hikes. While the expected expansion would be faster than other major economies, it will be below the long-term average. Growth in Asia's third-largest economy was expected to slow to 6.0% in the fiscal year to end-March 2024, unchanged from a March survey, a...
India economic growth seen stuck in low gear
India economic growth seen stuck in low gear
Source: Reuters
20/04/2023 8:48:30 AM
India has trade deficit with China in electronic components, computer hardware: Anupriya Patel Minister of State for Commerce and Industry Anupriya Patel has said that the major commodities in which India has a trade deficit with China include electronic components, computer hardware, telecom instruments, industrial machinery for dairy and organic chemicals. She said the commodities exhibiting trade deficit with China constituted 86.7 per cent of the total trade in 2014-15, which has reduced to 83.8 per cent of the total trade with China in 2021-22. She stated, similarly, the servic...
India has trade deficit with China in electronic components, computer hardware: Anupriya Patel
India has trade deficit with China in electronic components, computer hardware: Anupriya Patel
Source: Accord Fintech
6/04/2023 10:17:21 AM
World Bank slashes India`s GDP growth forecast to 6.3% for FY24 The World Bank in its latest ‘India Development Update’ (IDU) has slashed the country’s Gross Domestic Product (GDP) growth forecast to 6.3% against the earlier estimate of 6.6 per cent in 2023-24 (FY24). It said growth is likely to be constrained by slower consumption growth and challenging external conditions, it said, adding that government consumption is projected to grow at a slower pace due to the withdrawal of pandemic-related fiscal support measures. The report said ...
World Bank slashes India`s GDP growth forecast to 6.3% for FY24
World Bank slashes India`s GDP growth forecast to 6.3% for FY24
Source: Accord Fintech
5/04/2023 9:49:05 AM
India`s current account deficit fell to $18.2 bn in December quarter India's current account deficit declined to $18.2 billion in December quarter of the current fiscal from $30.9 billion in September quarter of 2022-23. According to balance of payment data released by the Reserve Bank of India (RBI) for the third quarter of the current financial year, underlying the lower current account deficit in the third quarter of 2022-23 was a narrowing of merchandise trade deficit to $72.7 billion from $78.3 billion in the second quarter of 2022-23, coupled with...
India`s current account deficit fell to $18.2 bn in December quarter
India`s current account deficit fell to $18.2 bn in December quarter
Source: IANS
1/04/2023 9:00:24 AM
Indian goods and services exports set to cross $760 bn in 2022-23: Piyush Goyal  Indian goods and services exports are set to cross the $760 billion mark in the current fiscal, commerce minister Piyush Goyal said on Tuesday. Addressing the industry body Assocham's annual session, Goyal said that in 2021-22, the country's goods and services exports touched an all-time high of $422 billion and $254 billion respectively, taking the total shipments to $676 billion. "There's obviously much faster growth in services, but growth in both (merchandise ...
Indian goods and services exports set to cross $760 bn in 2022-23: Piyush Goyal
Indian goods and services exports set to cross $760 bn in 2022-23: Piyush Goyal
Source: IANS
29/03/2023 9:12:38 AM
Meghalaya Chief Minister Conrad Sangma presents deficit budget of Rs 1,592cr Meghalaya Chief Minister Conrad Sangma, who also holds the Finance portfolio, on Thursday presented a deficit budget of Rs 1,592 crore for the fiscal year 2023-24 This deficit amount is almost 3.42 per cent of the gross state domestic product (GSDP). Though the opposition criticised the high deficit amount in the budget, the Chief Minister termed it as a 'people's budget'. He said: "I am happy to announce that the estimated capital outlay for 2023-24 is 14 per cent h...
Meghalaya Chief Minister Conrad Sangma presents deficit budget of Rs 1,592cr
Meghalaya Chief Minister Conrad Sangma presents deficit budget of Rs 1,592cr
Source: IANS
24/03/2023 9:20:24 AM
India current account deficit likely narrowed to 2.7% of GDP in Q4 India's current account deficit is likely to have improved in the final quarter of 2022 from a nine-year high in July-September as the goods trade gap moderated and net services exports rose, a Reuters poll found. The median forecast of 22 economists polled March 16-23 showed a current account deficit of $23.0 billion in October-December 2022, or 2.7% of gross domestic product (GDP). Forecasts ranged from $15.0-$28.0 billion, or 2.0%-3.2% of GDP. In July-September, the gap was $36.4...
India current account deficit likely narrowed to 2.7% of GDP in Q4
India current account deficit likely narrowed to 2.7% of GDP in Q4
Source: Reuters
24/03/2023 8:43:32 AM
India bats for sovereign rating upgrade in review with global agencies  India is seeking an upgrade to its sovereign credit rating, currently at the lowest-possible investment grade, as the Asian nation believes its economic metrics have improved considerably since the pandemic, a senior government official said on Monday. The country's federal finance ministry met representatives from the top three rating agencies–Fitch Ratings, Moody’s Investors Service and S&P Global Ratings–after the government presented its annual budget on...
India bats for sovereign rating upgrade in review with global agencies
India bats for sovereign rating upgrade in review with global agencies
Source: Reuters
13/03/2023 3:57:04 PM
India`s goods, services exports likely to cross $750 billion this fiscal Piyush Goyal Expressing optimism over India’s exports growth, Commerce and Industry Minister Piyush Goyal has said that the country’s goods and services exports are expected to cross $750 billion this fiscal despite the global economic uncertainties. In 2021-22, the country's goods and services exports touched an all-time high of $422 billion and $254 billion respectively, taking the total shipments to $676 billion. Due to the global demand slowdown, India's exports contracted for the ...
India`s goods, services exports likely to cross $750 billion this fiscal Piyush Goyal
India`s goods, services exports likely to cross $750 billion this fiscal Piyush Goyal
Source: Accord Fintech
6/03/2023 10:50:38 AM
Government begins daily monitoring of revenue receipts, expenses from March 1 to check fiscal deficit in 2022-23  From March 1 onwards, the finance ministry has begun monitoring of revenue receipts like tax collections and even expenses, to control fiscal deficit in the current fiscal. "In order to keep a close track of receipts, expenditure and involving fiscal position of the central government in the month of March, 2023, it is necessary to have updated information on a day-to-day basis," the Controller General of Accounts (CGA) under the finance ministry said in an office memorandu...
Government begins daily monitoring of revenue receipts, expenses from March 1 to check fiscal deficit in 2022-23
Government begins daily monitoring of revenue receipts, expenses from March 1 to check fiscal deficit in 2022-23
Source: IANS
5/03/2023 4:34:00 PM
India`s April-Jan fiscal deficit touches 68% of full-year target India's fiscal deficit for the 10 months through January touched 11.91 trillion rupees ($144.19 billion), nearly 68% of annual estimates, government data showed on Tuesday. Net tax receipts rose to 16.89 trillion rupees while total expenditure was 31.68 trillion rupees, the data showed. India aims to end the current fiscal year with a budget deficit of 6.4%.
India`s April-Jan fiscal deficit touches 68% of full-year target
India`s April-Jan fiscal deficit touches 68% of full-year target
Source: Reuters
1/03/2023 9:11:45 AM
Indias fiscal deficit rises to Rs 11.91 lakh crore The fiscal deficit for the first 10 months of the current fiscal rose to Rs 11.91 lakh crore, which was 67.8 per cent of the whole year target for 2022-23, according to data released by the Controller General of Accounts on Tuesday. The fiscal deficit for the corresponding period of last year was 58.9 per cent of the previous fiscal's target. The government had made an upward revision in the fiscal deficit target for 2022-23 in the Union Budget to Rs 17.55 lakh crore from Rs 16.61 l...
Indias fiscal deficit rises to Rs 11.91 lakh crore
Indias fiscal deficit rises to Rs 11.91 lakh crore
Source: IANS
28/02/2023 6:19:23 PM
The Economy Observer : State of Affairs: Combined fiscal deficit at 51% of BE in 9MFY23 By Motilal Oswal Financial Services States’ capex grew but Center’s contracted in 3QFY23 * Based on provisional data of 18 large states, their total spending grew 6.4%/12% YoY in 3QFY23/9MFY23. Total receipts too grew slowly at only 14.3%/21.6% YoY in 3QFY23/9MFY23. Consequently, states’ aggregate fiscal deficit came in at INR1.3t/INR3.8t (or 1.8%/1.9% of GDP) in 3QFY23/9MFY23. * As a percentage of BE, 9MFY23 fiscal deficit stood at only ~43%, lower compared to Covid levels (70% on average during FY21-22...
The Economy Observer : State of Affairs: Combined fiscal deficit at 51% of BE in 9MFY23 By Motilal Oswal Financial Services
The Economy Observer : State of Affairs: Combined fiscal deficit at 51% of BE in 9MFY23 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
21/02/2023 11:24:47 AM
Budget 2023-24: A manifesto for sustainable development, fiscal prudence and industrial revolution 4.0 Provisions of India's Budget for FY 2023-24 show the country's firm resolve to play the role of engine of growth for the sagging global economy. This is why India was earlier described by multilateral agencies as a bright spot amid global economic uncertainty and looming recession and Russia-Ukraine War further hurting the prospects of post pandemic economic recovery. The International Monetary Fund's (IMF) January 2023 World Economic Outlook Update projected a decline in globa...
Budget 2023-24: A manifesto for sustainable development, fiscal prudence and industrial revolution 4.0
Budget 2023-24: A manifesto for sustainable development, fiscal prudence and industrial revolution 4.0
Source: IANS
5/02/2023 8:52:35 AM
India could see some risks to FY26 fiscal deficit target of 4.5% of GDP: Moody`s Christian de Guzman Moody's Investors Service’s senior vice president, Christian de Guzman has said the Indian federal government's aim to achieve a fiscal deficit target of 4.5% of gross domestic product (GDP) by 2025/26 (FY26) could see some risks. Guzman said the current pattern suggests that perhaps there could be some upward pressure on expenditure especially if they (government) continue with this focus on capex. The government's budget gap, which hit a high of 9.5% of GDP in 2020/21 a...
India could see some risks to FY26 fiscal deficit target of 4.5% of GDP: Moody`s Christian de Guzman
India could see some risks to FY26 fiscal deficit target of 4.5% of GDP: Moody`s Christian de Guzman
Source: Accord Fintech
2/02/2023 11:24:34 AM
India could see some risks to FY26 fiscal deficit target of 4.5% of GDP - Moody's analyst MUMBAI  - The Indian federal government's aim to achieve a fiscal deficit target of 4.5% of gross domestic product (GDP) by 2025/26 could see some risks, an analyst at Moody's Investors Service said on Wednesday. "The current pattern suggests that perhaps there could be some upward pressure on expenditure especially if they (government) continue with this focus on capex," the rating agency's senior vice president, Christian de Guzman, told Reuters. The governm...
India could see some risks to FY26 fiscal deficit target of 4.5% of GDP - Moody's analyst
India could see some risks to FY26 fiscal deficit target of 4.5% of GDP - Moody's analyst
Source: Reuters
1/02/2023 3:52:03 PM
Economic growth to slide to 7% in 2022-23 against 8.7% in 2021-22: Fiscal policy statement Economic growth is expected to slide in the current fiscal, even as India is among the bright spots in the prevailing global scenario marred by fluid geopolitical circumstances, as per the Fiscal Policy statement presented by Finance Minister Nirmala Sitharaman along with the Union Budget on Wednesday. Nominal GDP is expected to grow at 15.4 per cent year-on-year in 2022-23 as against 19.5 per cent in 2021-22, while the real GDP is projected to grow by 7 per cent in the current fiscal year...
Economic growth to slide to 7% in 2022-23 against 8.7% in 2021-22: Fiscal policy statement
Economic growth to slide to 7% in 2022-23 against 8.7% in 2021-22: Fiscal policy statement
Source: IANS
1/02/2023 2:16:51 PM
Post Budget Reaction : Fiscal Deficit target to 5.9% for 23/24, a welcome move & help in maintaining the interest rate lower Says Mr. Anand Rathi, Anand Rathi Group Below are Views On Post Budget Reaction By Mr. Anand Rathi, Founder & Chairman, Anand Rathi Group "A 33% increase in capital expenditure to 10 lac crore rupees, the highest ever will go a long way in building roads, ports, and airports — crucial for making India a reliable investment destination. Investment of Rs. 2.4 lac crore in Railways is commendable. Boost to capex before the national polls is an indication Modi is focused on realizing his dream of making Indi...
Post Budget Reaction : Fiscal Deficit target to 5.9% for 23/24, a welcome move & help in maintaining the interest rate lower Says Mr. Anand Rathi, Anand Rathi Group
Post Budget Reaction : Fiscal Deficit target to 5.9% for 23/24, a welcome move & help in maintaining the interest rate lower Says Mr. Anand Rathi, Anand Rathi Group
Source: PR Agency
1/02/2023 2:02:43 PM
India's Budget 2023 highlights NEW DELHI - India will focus on economic growth and job creation and cut down fiscal deficit, the Finance Minister said on Wednesday, presenting the government's last full budget in parliament before elections due next year. The aim is to have strong public finances and a robust financial sector for the benefit of all sections of society, Finance Minister Nirmala Sitharaman said. India's federal government will target a budget deficit of 5.9% of GDP for 2023/24, Sitharaman said,...
India's Budget 2023 highlights
India's Budget 2023 highlights
Source: Reuters
1/02/2023 1:36:24 PM
Government fixes fiscal deficit target at 5.9% of GDP Finance Minister Nirmala Sitharaman on Wednesday set the fiscal deficit target for 2023-24 at 5.9 per cent of the GDP, while emphasising that the government is committed to bring it below the 5 per cent-mark by 2025-26. In her Budget speech, Sitharaman said that in 2021-22, she had announced that the government would continue on its path of fiscal consolidation and would strive to bring fiscal deficit below 5 per cent of the GDP by 2025-26. Fiscal deficit is the difference between total...
Government fixes fiscal deficit target at 5.9% of GDP
Government fixes fiscal deficit target at 5.9% of GDP
Source: IANS
1/02/2023 12:52:29 PM
India pegs fiscal deficit at 5.9% of GDP, gross borrowing at 15.43 trillion rupees MUMBAI - India's federal government will target a budget deficit of 5.9% of GDP for 2023/24, Finance Minister Nirmala Sitharaman said in her budget speech. The fiscal deficit for the fiscal year ending March 31, 2023 was at 6.4%, according to the revised estimates. A Reuters Poll had pegged the budget gap at 6% of GDP. The government's budget gap, which hit a high of 9.5% of GDP in 2020/21 as the spread of COVID-19 infections brought the economy to a halt, has narrowed sinc...
India pegs fiscal deficit at 5.9% of GDP, gross borrowing at 15.43 trillion rupees
India pegs fiscal deficit at 5.9% of GDP, gross borrowing at 15.43 trillion rupees
Source: Reuters
1/02/2023 12:30:35 PM
Government's fiscal deficit touches 59.8% of full-year target at December end The Controller General of Accounts (CGA) in its latest data has said that the government's fiscal deficit as of end-December touched 59.8 per cent of the full-year Budget Estimate on subdued growth in revenue collections. In actual terms, the fiscal deficit -- which is the difference between expenditure and revenue -- was Rs 9,92,976 crore during the April-December period of 2022-23. As per the data, in the corresponding period last year, the deficit was 50.4 per cent of the Budget Est...
Government's fiscal deficit touches 59.8% of full-year target at December end
Government's fiscal deficit touches 59.8% of full-year target at December end
Source: Accord Fintech
1/02/2023 12:12:45 PM
Union Budget 2023-24: FM Nirmala Sitharaman reaches Rashtrapati Bhavan Union Finance Minister Nirmala Sitharaman reached Rashtrapati Bhavan to call on President Droupadi Murmu before presenting the Union Budget for 2023-24 in the Lok Sabha. The Finance Minister will also attend the Union cabinet meeting and then present the Budget around 11 a.m. Sitharaman will also lay a statement of the estimated receipts and expenditure of the government for 2023-24. The Finance Minister will also lay out statements of the Fiscal Responsibility and Budget Management...
Union Budget 2023-24: FM Nirmala Sitharaman reaches Rashtrapati Bhavan
Union Budget 2023-24: FM Nirmala Sitharaman reaches Rashtrapati Bhavan
Source: IANS
1/02/2023 9:28:53 AM
Finance Minister to present Union Budget for 2023-24 today Union Finance Minister Nirmala Sitharaman will present the Union Budget for 2023-24 on Wednesday in Lok Sabha. She will lay a statement of the estimated receipts and expenditure of the government for 2023-24. The Finance Minister will also lay statements of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003, on medium-term fiscal policy cum fiscal policy strategy and on macro-economic framework. Sitharaman will further introduce the Finance Bill 2023 in the Lower House.
Finance Minister to present Union Budget for 2023-24 today
Finance Minister to present Union Budget for 2023-24 today
Source: IANS
1/02/2023 8:22:25 AM
Indian budget likely to push spending to support growth, while lowering deficit  Presenting its annual budget to parliament on Wednesday, India's government will seek to lower its fiscal deficit while offering incentives for investment and stepping up state spending to support an economy that is caught in the global slowdown. Although the government faces elections in key states this year and a national vote in 2024, the budget is unlikely to offer major relief to households due to fiscal constraints, officials have said, while noting that the budget would fo...
Indian budget likely to push spending to support growth, while lowering deficit
Indian budget likely to push spending to support growth, while lowering deficit
Source: Reuters
1/02/2023 8:16:04 AM
MakeMyTrip logs highest-ever quarterly gross bookings at $1.75 bn Global travel service provider MakeMyTrip on Tuesday reported a growth of 64.4 per cent on gross bookings (year-on-year) that reached $1.75 billion -- its highest-ever -- for the company's fiscal third quarter that ended on December 31. The company earned adjusted operating profit of $19.7 million in Q3 FY23, as compared to $13.2 million in Q3 FY22, over the revenue of $170.5 million (versus $115 million in 3Q22). Profit for the period was $0.2 million as compared to a loss of $9 mi...
MakeMyTrip logs highest-ever quarterly gross bookings at $1.75 bn
MakeMyTrip logs highest-ever quarterly gross bookings at $1.75 bn
Source: IANS
31/01/2023 5:26:05 PM
April-December Fiscal Deficit at 59.58% of the Rs.16.61 Lk Cr FY23 Target April-December Fiscal Deficit at 59.58% of the Rs.16.61 Lk Cr FY23 Target
April-December Fiscal Deficit at 59.58% of the Rs.16.61 Lk Cr FY23 Target
April-December Fiscal Deficit at 59.58% of the Rs.16.61 Lk Cr FY23 Target
Source: investmentguruindia.com
31/01/2023 4:15:13 PM
Growth in 2023-24 to be aided by rising domestic demand, capital investment: Economic Survey The for 2022-23 while dwelling on the outlook for the forthcoming fiscal of 2023-24, has said that India's recovery from the pandemic was relatively quick, and growth in the new financial year will be supported by solid domestic demand and a pickup in capital investment. It further noted that aided by healthy financials, incipient signs of a new private sector capital formation cycle are visible and more importantly, compensating for the private sector's caution in capital expendit...
Growth in 2023-24 to be aided by rising domestic demand, capital investment: Economic Survey
Growth in 2023-24 to be aided by rising domestic demand, capital investment: Economic Survey
Source: IANS
31/01/2023 3:10:32 PM
Fiscal deficit expected to be 6.4% of GDP in 2022-23, says economic survey Fiscal deficit is expected to be at 6.4 per cent of GDP in 2022-23, according to the Economic Survey 2022-23, tabled in Parliament by Finance Minister Nirmala Sitharaman on Tuesday. The survey highlighted that conservative budget assumptions provided a buffer during global uncertainties. The resilience in the fiscal performance was due to a recovery in economic activity and buoyancy in revenues. Gross tax revenue registered a year-on-year growth of 15.5 per cent from April to November 2...
Fiscal deficit expected to be 6.4% of GDP in 2022-23, says economic survey
Fiscal deficit expected to be 6.4% of GDP in 2022-23, says economic survey
Source: investmentguruindia.com
31/01/2023 2:15:57 PM
RBI to hike repo rate by 25 bps in Feb, ending tightening cycle The Reserve Bank of India is expected to raise its main interest rate by a modest 25 basis points to 6.50% at its meeting one week after New Delhi's Feb. 1 budget, before leaving it at that level for the rest of the year, a Reuters poll of economists found. Those forecasts were unchanged from a poll last month, with predictions for a slowdown in GDP growth to 6.0% in the 2023/24 fiscal year from an expected 6.7% in the current one also barely changed. Like many other major central b...
RBI to hike repo rate by 25 bps in Feb, ending tightening cycle
RBI to hike repo rate by 25 bps in Feb, ending tightening cycle
Source: Reuters
30/01/2023 9:13:18 AM
Presented in the shadow of upcoming polls, Budget likely to be tightrope walk The FY24 Union Budget is likely to be a tightrope walk, considering its fiscal guidance and the 2024 Lok Sabha elections, Phillip Capital said in a report. "We estimate fiscal deficit for FY24 at 5.8-6.0% and FY23 at 6.2%. Muted nominal GDP growth (due to global slowdown and low deflator) will constrain tax revenue and government spending, compared to the strong pace in the last couple of years", the report said. Thus, the government's innovation will be tested - to delive...
Presented in the shadow of upcoming polls, Budget likely to be tightrope walk
Presented in the shadow of upcoming polls, Budget likely to be tightrope walk
Source: IANS
28/01/2023 6:10:03 PM
FM Nirmala Sitharaman likely to try and pull fiscal deficit below 6% in 2023-24 As Union Finance Minister Nirmala Sitharaman prepares to present the last full budget of the NDA government before the 2024 Lok Sabha elections, she may try to focus on fiscal consolidation and bringing the fiscal deficit target down to less than 6 per cent of the GDP. On February 1, she may try to look at a fiscal deficit figure, which is much lesser than the 6.4 per cent of GDP, which was the target in the previous budget for 2022-23. In the previous two financial years, which were ma...
FM Nirmala Sitharaman likely to try and pull fiscal deficit below 6% in 2023-24
FM Nirmala Sitharaman likely to try and pull fiscal deficit below 6% in 2023-24
Source: IANS
28/01/2023 5:42:11 PM
India may peg gross borrowing under 16 trillion rupees in 2023/24 India's federal government is likely to keep its gross market borrowing below 16 trillion rupees ($196 billion) for 2023/24 as it does not want to destabilise the bond market with any negative surprises, two sources close to the deliberations said. "Feedback from the market participants is that a borrowing of 15.5-16 trillion rupees can be absorbed well in the next financial year," one of the officials told Reuters. The second official said that based on the discussions he...
India may peg gross borrowing under 16 trillion rupees in 2023/24
India may peg gross borrowing under 16 trillion rupees in 2023/24
Source: Reuters
27/01/2023 5:09:19 PM
India central bank governor says current account deficit manageable  India's current account deficit is "eminently manageable" and within the parameters of viability, India's central bank governor Shaktikanta Das said at an event on Friday. India's average current account deficit stands at 3.3% of GDP for the first six months of 2022/23. The net balance under services and remittances remains in a large surplus, partly offsetting the trade deficit, Das said at a conference in Dubai, according to a copy of the speech released by...
India central bank governor says current account deficit manageable
India central bank governor says current account deficit manageable
Source: Reuters
27/01/2023 3:45:32 PM
Employment generation, inclusive growth to be budget focus: CARE Ratings survey Majority of the respondents of CARE Ratings pre-budget survey were of the view that the focus of the current NDA government's final full budget before the Lok Sabha polls will be on employment generation and inclusive growth. Despite the global headwinds, the Indian economy is expected to grow by seven per cent in FY23, states a pre-budget survey conducted by credit rating agency CARE Ratings. Ahead of the current NDA government's final full budget before the Lok Sabha elections...
Employment generation, inclusive growth to be budget focus: CARE Ratings survey
Employment generation, inclusive growth to be budget focus: CARE Ratings survey
Source: IANS
24/01/2023 4:01:21 PM
India may peg nominal GDP growth at about 11% in 2023/24 budget  India is likely to peg its nominal gross domestic product (GDP) growth at around 11% in the annual budget next week, marking a slowdown from its estimate for the current fiscal year due to the prospect of weak exports, two government officials said. Nominal GDP growth — which includes inflation and is the benchmark used to estimate tax collections — could be pressured by suppressed external demand next year due to a likely U.S. recession, said the sources, who declined to...
India may peg nominal GDP growth at about 11% in 2023/24 budget
India may peg nominal GDP growth at about 11% in 2023/24 budget
Source: Reuters
24/01/2023 9:42:03 AM
Indian government to borrow a record 16 trillion rupees in fiscal 2023/24 The Indian government will borrow a record 16 trillion rupees ($198 billion) in the fiscal year to March 2024, according to a Reuters poll of economists, who said infrastructure spending and fiscal discipline ought to be its highest budget priorities. The federal government's gross indebtedness has more than doubled in the past four years as Prime Minister Narendra Modi's government has spent heavily to cushion the economy from the effects of the COVID-19 pandemic and to provide re...
Indian government to borrow a record 16 trillion rupees in fiscal 2023/24
Indian government to borrow a record 16 trillion rupees in fiscal 2023/24
Source: Reuters
23/01/2023 11:40:40 AM
Pre Budget Expectations : The government will focus on maintaining the budget deficit Says Mr. Raghvendra Nath, Ladderup Wealth Management Below Perspective On Pre Budget Expectations By Mr. Raghvendra Nath, Managing Director – Ladderup Wealth Management Private Limited  Given that this is the last full year budget before election, we do not anticipate any significant changes from the government's prior policy. Therefore, the government will focus on maintaining the budget deficit and may introduce new programs related to social welfare & infrastructure. We hope that the government does not tinker with the ...
Pre Budget Expectations : The government will focus on maintaining the budget deficit Says Mr. Raghvendra Nath, Ladderup Wealth Management
Pre Budget Expectations : The government will focus on maintaining the budget deficit Says Mr. Raghvendra Nath, Ladderup Wealth Management
Source: PR Agency
19/01/2023 5:09:37 PM
Fiscal consolidation expected on the back of lower subsidy payments  The Central government's fiscal deficit is expected to narrow to 5.9 per cent of GDP in F2024 from 6.4 per cent in F2023, Morgan Stanley said in a report. "We expect fiscal consolidation on the back of lower subsidy payments, which will also ensure that focus on public capex spending is sustained, thus supporting the growth outlook," the report said. Expenditure ratio is expected to moderately driven by lower subsidy spending, mix of expenditure to improve. The pa...
Fiscal consolidation expected on the back of lower subsidy payments
Fiscal consolidation expected on the back of lower subsidy payments
Source: IANS
18/01/2023 12:38:04 PM
India`s fiscal deficit for FY23 estimated at Rs 17.5 L crore, FY24 Rs 17.95 L crore: SBI  The upcoming Indian budget for 2023-24 will be a challenging one for the government to follow the roadmap for fiscal consolidation amidst a global environment of declining inflation, said a top economist of State Bank of India in a report. For India, this could make things difficult to set a nominal gross domestic product (GDP) number significantly higher than 10 per cent, with a deflator about 3.5 per cent. But this could also mean a higher GDP growth than anticipated at about 6.2 p...
India`s fiscal deficit for FY23 estimated at Rs 17.5 L crore, FY24 Rs 17.95 L crore: SBI
India`s fiscal deficit for FY23 estimated at Rs 17.5 L crore, FY24 Rs 17.95 L crore: SBI
Source: IANS
17/01/2023 3:32:34 PM
States` GFD budgeted to decline to 3.4% of GDP in 2022-23: RBI report Reserve Bank of India (RBI) in its report 'State Finances: A Study of Budgets of 2022-23' has said states’ gross fiscal deficit (GFD) is budgeted to decline from 4.1 per cent of gross domestic product (GDP) in Covid-hit 2020-21 to 3.4 per cent of GDP in 2022-23 showing improvement in their fiscal health. It also advised States to continue to focus on creating a congenial ecosystem for greater private investments. It stated the fiscal health of the states has improved from a shar...
States` GFD budgeted to decline to 3.4% of GDP in 2022-23: RBI report
States` GFD budgeted to decline to 3.4% of GDP in 2022-23: RBI report
Source: Accord Fintech
17/01/2023 11:21:53 AM
Securitisation growth 42% in nine months this fiscal Securitisation volume in India jumped 42 per cent on-year and past the Rs 1.15 lakh crore mark in the first nine months of this fiscal, said credit rating agency CRISIL Ratings Ltd. According to CRISIL Ratings, the market activity in the quarter ended December 2022 continued the momentum witnessed in April to September period. Activity was broad-based, with wider participation, as the number of originators crossed 120 compared with about 100 in the preceding fiscal. Among new origina...
Securitisation growth 42% in nine months this fiscal
Securitisation growth 42% in nine months this fiscal
Source: Reuters
17/01/2023 9:53:57 AM