2023-12-18 08:31:50 The Indian government is likely to achieve its fiscal deficit target of 5.9% of gross domestic product (GDP) in the financial year 2023-24, junior finance minister Bhagwat Karad said on Monday. India’s fiscal deficit in the first seven months of the financial year ending on March 31, 2024 was Rs 8.04 lakh crore … Read more
2023-12-17 01:04:38 The Centre’s advance tax collections up to the third quarter (April-December) of FY24 are up 19.8% from a year earlier to ₹6.24 lakh crore, maintaining healthy double-digit growth, said people aware of the latest numbers, pointing to a buoyant economy. The numbers include payments till 11:30 pm on December 15, the last day … Read more
2023-12-06 18:52:18 New Delhi: The government on Wednesday sought parliamentary approval for an additional net spending of ₹58,378 crore in the first batch of supplementary demand for grants in this financial year. Despite the additional outgo, officials expect the government to meet its fiscal deficit target of 5.9% of gross domestic product (GDP) for 2023-24. … Read more
2023-12-06 13:39:10 The Finance Ministry on Wednesday sought approval for fresh cash expenditures of over ₹58,000 crore from Parliament. This includes ₹13,500 crore for fertilisers and over ₹4,500 crore for the free ration programme. At the same time, additional expenditure for the rural employment guarantee scheme and fund infusion in public sector expenditure companies will … Read more
2023-11-30 18:58:02 New Delhi: India’s fiscal deficit for the first seven months of the current financial year touched 45% of the full-year budget estimate, marginally lower than the 45.6% deficit recorded in the year-ago period, data released by the Controller General of Accounts (CGA) showed on Thursday. In absolute terms, the fiscal deficit between April … Read more
2023-10-21 01:24:00 Finance minister Nirmala Sitharaman said on Friday that the government is looking at reducing its debt burden further and has already resorted to prudent spending by resisting the temptation of fiscal profligacy, especially after the pandemic, to avoid burdening future generations. In her inaugural speech at the Kautilya Economic Conclave 2023 in the … Read more
2023-10-09 14:27:41 Private investment needs to pick up as the level of capex cannot be sustained by the government, said Goldman Sachs in a report released Monday. The global investment bank stated that public capex has peaked and will decline as the government reduces its fiscal deficit by almost 1.5 percentage points to 4.5% by … Read more
2023-10-06 09:27:04 RBI Governor Shaktikanta Das on Friday said the central bank does not see any “major problem” or other worries with the finances of the central government. He said that the government is sticking to its fiscal consolidation roadmap and targets laid down in the budget for FY24. Replying to a specific question on … Read more