Page 27 - Latest Updates on Fiscal Deficit
Fiscal deficit hits 112.4% of FY19 target at Rs 7.01 trn in Apr-Dec
Govt has revised upward its fiscal deficit target to 3.4% of GDP in the current fiscal year from the previously estimated 3.3%
 "Fiscal deficit hits 112.4% of FY19 target at Rs 7.01 trn in Apr-Dec")
FY20 fiscal deficit to overshoot target, slip to 3.6%: Fitch Solutions
It said that 2019-20 Budget appears to show a strong populist bent in the run-up to the general elections due by May 2019
 "FY20 fiscal deficit to overshoot target, slip to 3.6%: Fitch Solutions")
Letter to BS: Time to improve the fiscal architecture of Indian economy
The long-term solution lies in mapping the nation's unaccounted for wealth and considering a realistic taxation policy that covers high income groups and agricultural income
 "Letter to BS: Time to improve the fiscal architecture of Indian economy")
Fiscal deficit to revenue target: Crunching the Budget numbers
With GST revenues coming well below expectations, the Centre failed to meet its budgeted fiscal deficit target yet again
 "Fiscal deficit to revenue target: Crunching the Budget numbers")
Greater slippage likely to raise questions over fiscal arithmetic for FY20
The interim Budget pegs collections from CGST for the full year at Rs 5.04 trillion
 "Greater slippage likely to raise questions over fiscal arithmetic for FY20")
We are on glide path for fiscal consolidation: DEA Secretary Subhash Garg
It appeared that there could be a positive impact on fiscal deficit. But, we need to look at the data more deeply
 "We are on glide path for fiscal consolidation: DEA Secretary Subhash Garg")
FY19 will end with fiscal deficit of 3.3% of GDP, says DEA Secy S C Garg
Primary deficit refers to the deficit left after subtracting interest payments from the fiscal deficit
 "FY19 will end with fiscal deficit of 3.3% of GDP, says DEA Secy S C Garg")
SBI Research report backs govt to meet fiscal deficit target this year
The report also pegged fiscal deficit for FY20 at 3.2 per cent
Missing the wood for the trees
This misplaced excitement at having uncovered some non-existent fiscal jugglery is a consequence of lazy analytical thinking which governments cheerfully exploit
 "Missing the wood for the trees")
Farm schemes to push state fiscal deficits to 3.2% of GDP in FY'20: Ind-Ra
In the current financial year, states are expected to witness a fiscal slippage of 0.2 percentage points to 2.8% of GDP in 2018-19
 "Farm schemes to push state fiscal deficits to 3.2% of GDP in FY'20: Ind-Ra")
States' fiscal deficit to breach target, may go up to 3.2% in FY20: Report
The agency expects states' aggregate revenue expenditure to grow 18.9 per cent to Rs 33.28 trillion in FY20
 "States' fiscal deficit to breach target, may go up to 3.2% in FY20: Report")
The fog of fiscal finances
A string of new expenditure is clouding India's fiscal future
Govt may fall short of Rs 2.45-trn non-tax revenue target despite RBI funds
The biggest pressure point is from telecommunications revenue, which has been targeted at Rs 48,661 cr for the current year
 "Govt may fall short of Rs 2.45-trn non-tax revenue target despite RBI funds")
NDA govt deviated from the fiscal road map in 2016-17, says CAG report
On the capital side, off-budget financing of railways carried out through IRFC borrowings are outside budgetary control
 "NDA govt deviated from the fiscal road map in 2016-17, says CAG report")
Fiscal deficit of 3.3% for 2018-19 could be challenging, says experts
Some of the experts have already projected that the fiscal deficit could rise to 3.5 per cent of the GDP
 "Fiscal deficit of 3.3% for 2018-19 could be challenging, says experts")
India's fiscal deficit target overshot by 15% on revenue shortfall: DBS
An equally big concern are divestment efforts, with year-to-date collections still at a fifth of the target of Rs 80,000 crore
 "India's fiscal deficit target overshot by 15% on revenue shortfall: DBS")
Direct tax collection shortfall worry likely to add fiscal deficit woes
Officials have admitted that there could be a combined shortfall of Rs 70,000 crore-1 trillion on GST, though the centre's own GST shortfall will not be more than Rs 29,000-30,000 crore
 "Direct tax collection shortfall worry likely to add fiscal deficit woes")
Advance GDP estimate at 7.2% gives little relief to fiscal deficit pressure
Fiscal deficit at 3.3 per cent of GDP now comes at Rs 6.28 trillion compared to what was projected at Rs 6.24 trillion in the Budget Estimates
 "Advance GDP estimate at 7.2% gives little relief to fiscal deficit pressure")
Pace of revenue expenditure slows as fiscal deficit target looms
Finance Minister Arun Jaitley has said the fiscal deficit target of 3.3 per cent of gross domestic product (GDP) will be met without any cut in capital expenditure
Modi govt considers farm-relief package and ends up spooking bond traders
The government has repeatedly said it will meet its budget shortfall target of 3.3 per cent of GDP for the current financial year
 "Modi govt considers farm-relief package and ends up spooking bond traders")
