fiscal deficit - Latest News, Analysis, Opinion

Abhijit V. Banerjee, Professor of Economics at Massachusetts Institute of Technology, received the 2019 Nobel Prize for Economic Sciences. How well his ideas fit into India’s economic growth amid the volcanic challenges are debated in his book--Good Economics for Hard Times-- which he co-authored with Esther Duflo. He touches upon more politically contentious issues like trade, inequality and the universal basic income for those who are left out of the economic growth story. In a free-wheeling conversation with Manish Kumar Jha of BW Businessworld, Prof. Banerjee comments on India’s healthcare, the privatization, fiscal support, and the complex matrix of Direct Benefit Transfer Scheme. He asserts that the Indian economy could be competitive should “we open ourselves to trade”. Excerpts:

India's April-Jan Fiscal Deficit Hits 66.8% Of Full-Year Target

Net tax receipts were 11.02 trillion rupees, while total expenditure was 25.17 trillion rupees, the data showed.

States' Fiscal Deficit To Narrow To 4.3 % Of GDP In FY22: Report

Economy Policy

States' fiscal deficit is now financed mainly through market borrowings and the report estimates the gross market borrowings of states will increase to Rs 8.38 lakh crore in FY22 from Rs 8.2 lakh crore in FY21 (f).

Govt Monitoring Fiscal Deficit Carefully: FM

India has exceeded its fiscal deficit target of 3.5 per cent in the current fiscal by a wide margin, due to higher spending to stimulate the economy amid the COVID-19 pandemic.

Moody's Expresses Doubts On Higher Revenue Targets From Tax, Divestment

Economy

The Union Budget 2021-22 has pegged a fiscal deficit of 9.5 per cent for the current financial year as against the consensus 7 per cent, and 6.8 per cent for 2021-22 with a market borrowing of around Rs 12 lakh crore

A Marginal Increase In Defense Budget Reels Under 9.5% Fiscal Imbalance In The Budget 2021

Manish Kumar Jha

Economy Policy Defence

Defence Budget increased from Rs 4,71,000 crores to Rs 4,78,000 crores. Pension bill reduced from Rs 1,33,000 crores to Rs 1,15,000 crores. Marginal increase in Capital budget at Rs 1,35,060 crores from Rs 1,13,000 last FY. Fiscal burden at 9.5 % is dampening impact on the overall budget including defence.

FY21 Fiscal Deficit At 9.5 % Of GDP

The market borrowing in FY22 is projected at Rs 12 lakh crore. The figures come amid coronavirus (Covid-19) pandemic which has led to massive economic disruption within and outside the country.

India's April-December Fiscal Deficit Tops 145% Of Full Year Target

Companies & Markets

Net tax receipts were 9.62 trillion rupees, while total expenditure was 22.8 trillion rupees

States Fiscal Deficit Seen Spiking To Historic High Of 4.7%

Companies & Markets

Revenue collections are expected to reach close to the pre-pandemic level next fiscal, factoring in unlocking that began in July 2020 and a real GDP growth forecast of 10 per cent in FY22.

GDP may rebound to 10.1 pc growth in FY22: ICRA

GDP may rebound to 10.1 pc growth in FY22: ICRA

Fiscal Deficit To Be 7.5 % Of GDP During Current Fiscal: Experts

The tax revenue collection was 42.1 per cent of BE of 2020-21, compared to 45.5 per cent of BE (2019-20) during the corresponding period a year ago. Non-tax revenue was 32.3 per cent of BE.

India's Fiscal Deficit Likely To Be Over 7% In 2020/21

India's government had projected a fiscal deficit of 3.5% of GDP for the current year last February. It estimated government borrowing of 7.8 trillion rupees, later revised to 12 trillion rupees, to provide relief to millions of people and businesses hurt by the pandemic.

India's fiscal deficit stands at Rs 9.53 lakh crore till October

India's fiscal deficit stands at Rs 9.53 lakh crore till October

India's Stimulus 3.0 Supportive For Growth, Fiscal Impact Unclear: Fitch Solutions