Page 23 - Latest Updates on Fiscal Deficit
Centre following the fiscal glide path: DEA Secretary Atanu Chakraborty
The Centre could still rein in the deficit at the targeted level in the current financial year
 "Centre following the fiscal glide path: DEA Secretary Atanu Chakraborty")
Govt committed to following fiscal deficit glide path, says DEA secretary
Concerns have been raised by different agencies about the ability of the government to meet the fiscal deficit target
 "Govt committed to following fiscal deficit glide path, says DEA secretary")
Low tax revenue, high spend push H1 fiscal deficit to 93% of FY20 target
Though the figure seemed alarming, it was bit lower than 95.3 per cent in the corresponding period of 2018-19
 "Low tax revenue, high spend push H1 fiscal deficit to 93% of FY20 target")
April-September fiscal deficit at Rs 6.52 trillion, 92.6% of FY20 estimate
Net tax receipts in the first half of the current fiscal year ending in March 2020 were Rs 6.07 trillion, while total expenditure was Rs 14.89 trillion, the data showed
 "April-September fiscal deficit at Rs 6.52 trillion, 92.6% of FY20 estimate")
Govt unlikely to cut income-tax rate amid economic slowdown, fiscal stress
The government last fiscal missed its direct tax collection target, and for this financial year it has set a higher revenue mobilisation goal of Rs 13.80 trillion
 "Govt unlikely to cut income-tax rate amid economic slowdown, fiscal stress")
How to reform fiscal deficit
Expenditure on mitigating political risk should be explicitly separated from expenditure that entails economic risk
 "How to reform fiscal deficit")
Letter to BS: For decades govts have been manipulating fiscal numbers
Transparency in accounting will boost institutional morale leading to a rise in public trust in the government and the financial system
Important for India to keep fiscal deficit in check: IMF's Gita Gopinath
The prominent Indian-American economist was speaking to reporters ahead of the annual meeting of the IMF and the World Bank
 "Important for India to keep fiscal deficit in check: IMF's Gita Gopinath")
Will govt meet its fiscal deficit target? Bond traders are too skeptical
The central bank in August already approved a record Rs 1.76 trillion ($24.4 billion) payout to the government
 "Will govt meet its fiscal deficit target? Bond traders are too skeptical")
Rate cuts may help sovereign bonds post modest gains despite fiscal woes
Bond Bulls in India Bet on Rate Cuts to Counter Fiscal Worries
Congress hits out at govt, says fiscal deficit not at 3.3% but beyond 8%
Asserting that Indian economy has moved from recession to crisis mode, senior Congress leader Anand Sharma said PM Narendra Modi and Finance Minister Nirmala Sitharaman are 'oblivious' to situation
 "Congress hits out at govt, says fiscal deficit not at 3.3% but beyond 8%")
Delink the deficits: Linking revenue and fiscal deficits will lead nowhere
Revenue deficit comprises political payouts that are impossible to reduce in any significant measure. Minimising political risk means increasing revenue deficit
 "Delink the deficits: Linking revenue and fiscal deficits will lead nowhere")
Imbalances in the fiscal deficit debate
While criticising the fiscal deficit target in the FRBM Act, the commentariat ignores the fact that the legislation also stipulated a stiffer revenue deficit target
 "Imbalances in the fiscal deficit debate")
Time to do away with fiscal responsibility law? No virtue in stipulating 3%
Target years for reaching the desired fiscal deficit are pushed back; and when FMs are unable to get close to targets, they fudge the books and push the burden on to hapless PSUs, writes T N Ninan
Monetary policy review: Another rate cut may not help Indian economy
The larger problem here is that government finances are already in a hole; that would be a problem even if the tax cut were the best-designed in history
 "Monetary policy review: Another rate cut may not help Indian economy")
Top 10 biz headlines: Forever 21 to shut shop, core sector output, and more
From Forever 21 filing for bankruptcy to core sector output declining by 0.5%, here are the top 10 business headlines on Tuesday
 "Top 10 biz headlines: Forever 21 to shut shop, core sector output, and more")
BPCL to SCI, group of secretaries clears strategic stake sale in five PSUs
The sale may fetch over Rs 60,000 crore
 "BPCL to SCI, group of secretaries clears strategic stake sale in five PSUs")
August fiscal deficit hits 78.7% of FY20 target at Rs 5.5 trillion
Subdued revenues, corporation tax rate cuts may widen deficit
 "August fiscal deficit hits 78.7% of FY20 target at Rs 5.5 trillion")
Rate cuts fail to cheer bond market worried about Modi govt's borrowing
All eyes are now on the government's financing plans for the fiscal second half due today, with traders concerned that the authorities could increase bond sales beyond the Rs 2.68 trillion set earlier
 "Rate cuts fail to cheer bond market worried about Modi govt's borrowing")
April-August fiscal deficit 78.7% of Rs 7.04 trillion FY20 target
The deficit was at 86.5 per cent of the 2018-19 Budget Estimate (BE) in corresponding month a year ago
