Page 21 - Latest Updates on Fiscal Deficit
India Ratings estimates fiscal deficit of states to touch 3% of GDP
This fiscal slippage will originate from a decline in tax revenue, a lower nominal GDP and higher expenditure, it said
 "India Ratings estimates fiscal deficit of states to touch 3% of GDP")
India's fiscal deficit rises to 115% of target in 8 months of FY20
The gap between the government's revenue and spending stood at Rs 8.07 trillion at the end of November - Rs 1 trillion (13 per cent) more than the full-year target.
A blueprint for fiscal management & development
The Delhi government has focused its spends on essential services
Fiscal deficit hits 115% of Budget estimate at Rs 8.07 trillion till Nov
The fiscal deficit or the gap between expenditure and revenue was at Rs 8,07,834 crore as on November 30, 2019
 "Fiscal deficit hits 115% of Budget estimate at Rs 8.07 trillion till Nov")
Govt may breach fiscal deficit target; need for stimulus rises: Report
The government has set a 3.3 per cent fiscal deficit target for the current fiscal.
 "Govt may breach fiscal deficit target; need for stimulus rises: Report")
Steeply falling revenue risks fiscal parameters, could be a challenge: RBI
What is more pertinent is the divestment revenue. Of the Rs 1.05 lakh crore budgeted for the year, only 17 per cent have been achieved so far
 "Steeply falling revenue risks fiscal parameters, could be a challenge: RBI")
A real Budget, please: This one has to confront severe resource restraints
In Budget 2020 speech, the FM should state how she intends to return to the 7% track, and the hard decisions she will take to adjust to the realities of a slowing economy, writes T N Ninan
India should avoid fiscal stimulus and reduce public debt, IMF says
Government needs a credible consolidation path to rein in debt, including reducing subsidies and boosting the tax base, says IMF.
 "India should avoid fiscal stimulus and reduce public debt, IMF says")
India must stick to fiscal consolidation in medium-term, says Gita Gopinath
India's consolidated deficit (the Centre and states combined) is the highest among G20 nations, she added. "So, it's not a free lunch and this has to be very carefully managed," she said
 "India must stick to fiscal consolidation in medium-term, says Gita Gopinath")
Relax fiscal deficit limit from 3% to 4% of GDP, states ask Sitharaman
State FMs had met Sitharaman for a pre-Union Budget interaction
 "Relax fiscal deficit limit from 3% to 4% of GDP, states ask Sitharaman")
Fiscal deficit for April-November likely stood at 107% of FY20 target
For the deficit to be 3.3 per cent of GDP, it assumes a nominal GDP growth of 12 per cent in FY20
Economic slowdown: States seek relaxation in fiscal deficit target to 4%
They also suggested measures to strengthen cooperation between states and Centre to attain $5 trillion economy
 "Economic slowdown: States seek relaxation in fiscal deficit target to 4%")
Advance corporation tax mop-up drops over 5% in Dec quarter to Rs 73,000 cr
Net collection grows only 0.7% to Rs 6.75 trillion
 "Advance corporation tax mop-up drops over 5% in Dec quarter to Rs 73,000 cr")
Infra spend has to grow, fiscal deficit can be raised: CII prez Kirloskar
When it comes to putting equity in business versus putting debt, equity should be more important, he said
 "Infra spend has to grow, fiscal deficit can be raised: CII prez Kirloskar")
Fiscal profligacy can lead to critical situation: Former RBI Guv Subbarao
Subbarao pointed out that the nominal GDP growth has fallen to as low as 6.1%
 "Fiscal profligacy can lead to critical situation: Former RBI Guv Subbarao")
Fiscal deficit may slip to 3.5-3.8% in FY20; govt set to miss 3.3% target
The FRBM Act, after its amendment in 2018, allows a fiscal deficit slippage of not more than 0.5% for any given year, provided there are justifications
 "Fiscal deficit may slip to 3.5-3.8% in FY20; govt set to miss 3.3% target")
Statsguru: Ball in the fiscal court as RBI keeps lending rates unchanged
The MPC underlined the rising consumer price inflation as one of the reasons
 "Statsguru: Ball in the fiscal court as RBI keeps lending rates unchanged")
Fixing the GST
Fundamental improvements to the flawed structure needed
 "Fixing the GST")
CII calls for GST cut, expansionary policy to pull economy out of slowdown
The Centre's fiscal deficit has crossed the Budget FY20 projection of Rs 7.04 trillion by October itself
 "CII calls for GST cut, expansionary policy to pull economy out of slowdown")
Markets expect govt to borrow Rs 80,000 cr more to bridge fiscal deficit
RBI waiting for Budget numbers has surprised the bond market
 "Markets expect govt to borrow Rs 80,000 cr more to bridge fiscal deficit")
