Page 3 - Latest Updates on Fiscal Deficit
Centre's fiscal deficit touches 46.2% of annual target till Nov-end
The fiscal deficit had surged to 135.1% of the full-year target during the same period last fiscal year
 "Centre's fiscal deficit touches 46.2% of annual target till Nov-end")
RBI expresses doubts over govt meeting fiscal deficit targets
The government has budgeted for total expenditure of Rs 34.83 lakh crore or 6.8 per cent of GDP
 "RBI expresses doubts over govt meeting fiscal deficit targets")
Govt has managed revenue deficit better than overall fiscal deficit in FY22
This was despite revenue expenditure accounting for 53.7 per cent of Budget Estimates, while capital expenditure was 45.7 per cent during the first seven months of the current financial year
 "Govt has managed revenue deficit better than overall fiscal deficit in FY22")
Best of BS Opinion: Fiscal correction, India's FTA ambitions in perspective
Here is the best of BS Opinion pieces on Tuesday
 "Best of BS Opinion: Fiscal correction, India's FTA ambitions in perspective")
Fiscal correction
Govt should not delay the consolidation process
 "Fiscal correction")
Budget 2022-23: Centre may not target sharp fiscal correction
Budget-makers are confident that the net tax collection's Budget target (direct plus indirect) of Rs 15.45 trillion will be exceeded
 "Budget 2022-23: Centre may not target sharp fiscal correction")
Net direct tax collection jumps 60.8% to Rs 9.5 trillion in FY22 so far
Improvement in mop-up bodes well for achieving govt's fiscal deficit target at 6.8% of FY22 GDP
 "Net direct tax collection jumps 60.8% to Rs 9.5 trillion in FY22 so far")
Saudi Arabia expects 2022 budget surplus after years of deficit
After an expected fiscal deficit of 2.7% of gross domestic product this year, Riyadh estimates it will achieve a surplus of 90 billion riyals ($23.99 billion), or 2.5% of GDP, next year
 "Saudi Arabia expects 2022 budget surplus after years of deficit")
Statsguru: Six charts explain how states are improving their fiscal health
Further analysis by Business Standard showed that nearly half of all municipal corporations were facing financial stress in 2017-18
 "Statsguru: Six charts explain how states are improving their fiscal health")
Best of BS Opinion: The succession question, growth spending & more
Here is the best of Business Standard's opinion pieces for Thursday
 "Best of BS Opinion: The succession question, growth spending & more")
Growth spending
Govt must push capital expenditure
 "Growth spending")
States improve fiscal position, but local bodies still suffer: RBI report
Covid worsened finances of local govts in 2020-21 and 2021-22; local authorities would lose 15-25% of their revenues in 2021, which may make maintenance of current level of service delivery difficult
India's fiscal deficit for April-October at 36.3% of FY22 target
The windfall gains from oil revenues have contributed to the government's tax collection
 "India's fiscal deficit for April-October at 36.3% of FY22 target")
Top headlines: Q2 GDP grows at 8.4%; fiscal deficit at 36.3% of FY22 target
Business Standard brings you the top stories on Tuesday
 "Top headlines: Q2 GDP grows at 8.4%; fiscal deficit at 36.3% of FY22 target")
India's April-October fiscal deficit at 36.3% of full year target
In absolute terms, the fiscal deficit was Rs 5,47,026 crore at the end of October
 "India's April-October fiscal deficit at 36.3% of full year target")
FY22 fiscal deficit may be better at 6.6% on stronger tax buoyancy: Fitch
Revenue Secretary Tarun Bajaj has said the government's tax collection kitty will surpass budget estimates this financial year on the back of good direct and indirect tax mop-up.
 "FY22 fiscal deficit may be better at 6.6% on stronger tax buoyancy: Fitch")
Economists urge gradual consolidation, see fiscal deficit near 6% in FY23
They believe focus on reviving informal sector activity, particularly construction, is key to reviving GDP and jobs
 "Economists urge gradual consolidation, see fiscal deficit near 6% in FY23")
Andhra Pradesh revenue deficit soars 662% in first half of 2021-22
Andhra Pradesh's revenue deficit soared by an unprecedented 662.80 per cent while the fiscal deficit was up 107.79 per cent in the first half of the 2021-'22 financial year
 "Andhra Pradesh revenue deficit soars 662% in first half of 2021-22")
India to use revenue surge to fund welfare programmes, says report
Govt will not utilise a big bump in revenue collection to beat its fiscal deficit target or lower borrowing, say govt sources
 "India to use revenue surge to fund welfare programmes, says report")
Centre's fiscal deficit at 35% of budget estimates vs 115% a year ago
To be lower than budgeted 6.8%, say economists even when total expenditure is expected to exceed BE
