Page 10 - Latest Updates on Fiscal Deficit
Fiscal deficit to hit 6.1% of GDP in FY21: Govt's first advance estimates
The National Statistical Office on Thursday estimated nominal GDP at Rs 194.8 trillion - a 4.2 per cent contraction over the previous fiscal year
 "Fiscal deficit to hit 6.1% of GDP in FY21: Govt's first advance estimates")
Political economy of fiscal responsibility
The economy requires a fiscal battle plan and this, in turn, requires a fiscal responsibility framework
India's fiscal deficit likely to be over 7% in 2020/21: Report
A fiscal deficit of more than 7% would be higher than some private economists have projected
 "India's fiscal deficit likely to be over 7% in 2020/21: Report")
Banking on Budget: Hope and reforms amid pandemic and fiscal deficit
The government has taken laudable steps to support and propel the economy in these difficult times, but a lot more still needs to be done, writes Vikas Vasal
 "Banking on Budget: Hope and reforms amid pandemic and fiscal deficit")
FinMin releases Rs 6K crore to states to meet GST compensation shortfall
The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 trillion in revenue arising on account of implementation of GST
 "FinMin releases Rs 6K crore to states to meet GST compensation shortfall")
Centre's debt touches 56.2% of GDP in first half of FY21, shows data
Outstanding debt was Rs 107.04 trn, 13.12% more than Rs 94.62 trn at FY20-end
 "Centre's debt touches 56.2% of GDP in first half of FY21, shows data")
Fiscal deficit at 135% of BE on higher capex; spending in Nov rises 250%
This is despite a reasonable pick-up in tax revenues during the month as economic activity gradually reverts to normalcy amid the pandemic
 "Fiscal deficit at 135% of BE on higher capex; spending in Nov rises 250%")
India's April-November fiscal deficit tops 135% of full-year target
Net tax receipts were 6.88 trillion rupees, while total expenditure came to 19.06 trillion rupees
 "India's April-November fiscal deficit tops 135% of full-year target")
Interest rates on small savings kept unchanged for fourth quarter of FY21
The rates have not been changed since September 1, 2020; status quo to help Centre raise additional resources, says Icra economist
 "Interest rates on small savings kept unchanged for fourth quarter of FY21")
Economy to recover in 2021, but output may take another year to regain loss
While inflation is likely to moderate, fiscal deficit is clearly the pain point
 "Economy to recover in 2021, but output may take another year to regain loss")
Best of BS Opinion: A new fiscal road map, emission reduction, and more
Here's a selection of Business Standard opinion pieces for the day
 "Best of BS Opinion: A new fiscal road map, emission reduction, and more")
In search of a new fiscal road map
Budget 2021 must overhaul the existing FRBM Act to set feasible targets on deficit and debt
Beyond Budget Headlines with AKB: Why bad banks are a bad, bad idea
Tune in to this podcast to learn which big schemes could get more funding and which the axe, and if setting up multiple bad banks would be a good idea, among other things
 "Beyond Budget Headlines with AKB: Why bad banks are a bad, bad idea")
Govt may have to apply brakes on existing fiscal consolidation road map
Centre may have to amend FRBM Act once again to achieve this, which isn't an issue as such an amendment does not require a two-third or three-fourth majority
 "Govt may have to apply brakes on existing fiscal consolidation road map")
Beyond Budget Headlines with AKB: Govt should invest in small-gestation projects
In this second episode of our special video series on Budget, A K Bhattacharya talks about fiscal deficit target, government spending and disinvestment goals
Watch: Beyond Headlines with AKB, Ep 1: Pandemic Budget or lockdown Budget?
FM Nirmala Sitharaman has said she will not hold back on spending to contain fiscal deficit
Beyond headlines: Will Budget 2021 be pandemic Budget or lockdown Budget?
In the first of a series of videos in the run-up to the Budget, Business Standard Editorial Director A K Bhattacharya gives his expert views on what to expect from this Budget
Fiscal deficit touches 120% of full-year target as revenues plummet
Experts estimate full year's fiscal deficit between 7 per cent and 9 per cent of GDP against 3.5 per cent estimated earlier by the government
India's fiscal deficit stands at 120% of annual target at October-end
The deficit widened mainly on account of poor revenue realisation.
Higher budget deficit looms as govt cuts spending on growth drivers
Spending on capital assets has so far trailed the so-called revenue expenditure that includes interest payments and overheads such as salaries
 "Higher budget deficit looms as govt cuts spending on growth drivers")
