Page 27 - Latest Updates on Fiscal Deficit
Fiscal deficit touches 121.5% of full-year target at Rs 7.70 trn in Jan
At the end of January 2018, the deficit was 113.7 per cent of the Revised Estimate (RE)
 "Fiscal deficit touches 121.5% of full-year target at Rs 7.70 trn in Jan")
Small savings, fuel tax help govt reduce fiscal deficit to 3.4 % in FY19
In FY19, small savings grew 40%; may avert spike in bond yields, say experts
 "Small savings, fuel tax help govt reduce fiscal deficit to 3.4 % in FY19")
Govt may roll over Rs 33,000-35,000 crore in subsidy payments to FY20
Business Standard has learnt from senior government officials that the petroleum subsidy amount rolled over to FY20 will be around Rs 13,000 crore
 "Govt may roll over Rs 33,000-35,000 crore in subsidy payments to FY20")
To meet debt target by 2025, efforts required to reduce fiscal deficit: IMF
The New York Times in a news report after the presentation of the interim budget said that it was packed with handouts
 "To meet debt target by 2025, efforts required to reduce fiscal deficit: IMF")
Centre's fiscal deficit till December exceeds FY19 target by 11%
On the other hand, total expenditure was up 7.8% at the end of Dec, compared to the same period last year
 "Centre's fiscal deficit till December exceeds FY19 target by 11%")
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")
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
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")
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")
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
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")
