The central government's fiscal deficit touched 67.8 per cent of the full-year target at the end of January due to higher expenses and lower revenue realisations, according to official data released on Tuesday. In actual terms, the fiscal deficit or gap between the expenditure and revenue collection during April-January period stood at Rs 11.9 lakh crore, as per the data from the Controller General of Accounts (CGA). The fiscal deficit in the comparable period of 2021-22 was 58.9 per cent of that year's Revised Estimate (RE) in the Budget.
An aggressive rate hike by the US Fed and the possibility of a recession can trigger a slide in these stocks, which will be a good opportunity to buy from a long-term perspective.
'If the Chinese intent is to be gauged based on its aggression in the South China Sea, greater forays in the Indian Ocean, a hawk's attitude towards Taiwan, flying its fighters repeatedly over the Senkaku islands in the East China Sea and creating strategic assets globally, there would be a requirement for strategic partnerships for India,' says Brigadier S K Chatterji (retd).
The government on Monday sought Parliament approval for gross additional expenditure of Rs 44,945 crore in the current financial year. Of this, the net cash outgo will be Rs 19,812 crore, while the rest will be met by savings of the ministries or enhanced receipts. A significant part of this additional grant would be spent on food and fertiliser subsidy.
If this Budget was not packaged and sold as a Budget for the poor and for farmers, Narendra Modi would have lost the next election.
'Let us hope that this Budget delivers.' 'It needs 10 per cent plus real GDP growth in 2021-22, the rebound year,' notes Omkar Goswami.
Agri experts are meeting FinMin ministry officials on Monday to give their inputs on the Budget.
The Union Budget seems to have elicited a starkly opposite view from rural India compared to urbanites, says Mahesh Vyas.
The worst of recession could coincide with the run-up to the elections.
Capex for next year expected to be up 25% to Rs 3 lakh crore
The government has budgeted for total expenditure of Rs 34.83 lakh crore or 6.8 per cent of GDP. While the net tax revenue rose from Rs 5,75,697 crore in October 2020 to Rs 10,53,135 crore till October 2021, a growth of 82.93 per cent annualized, total expenditure rose only by 9.95 per cent, led by infra spending to Rs 18,26,725 crore from Rs 16,61,454 crore during the same period, the RBI said in the financial stability report.
The Individual tax payer exemption limit to be raised to Rs 200,000 from Rs 180,000.
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
Let there be a rule that if the Budget is not passed and funds cannot be drawn from the Consolidated Fund of India, there will be a government shutdown as it happens in the United States, says A K Bhattacharya.
Policymakers are examining the possibility of increasing the tax-free slab to Rs 5 lakh in the two-year-old alternative personal income tax regime to make it attractive, a government official said. At present, taxpayers don't pay income tax if their taxable income is Rs 2.5 lakh and below. Increasing the threshold will reduce the tax outgo for assessees, thereby leaving more money with them to invest, the official said.
The new government may enhance the Plan expenditure for 2014-15 by around Rs 11,000 crore (Rs 110 billion) in the Budget next month, which would be about 2 per cent higher than what was provided in the previous fiscal budget.
The net direct tax collections jumped by 18 per cent to Rs 43,391 crore during the first two months of the current fiscal.
Arun Jaitley opted for a fiscal deficit of 3.9% in 2015-16.
The new government, which will be required to boost investments and promote growth, will be presenting a regular Budget after completion of the electoral process.
The free food scheme is driven by electoral considerations, but its long-term fiscal risks outweigh the short-term gains, cautions A K Bhattacharya.
Beside manufacturing, deceleration was also witnessed in sectors like agriculture, construction and electricity, gas and water supply.
Revenue from its IT services business rose 9 percent to $1.86 billion.
There is a lot of optimism as regards the defence, railway and manufacturing sectors.
It is estimating that this would help monetise assets worth Rs 10,000 crore.
The rating agency also expects merchandise exports to grow by 8-10 per cent in the next fiscal year.
The finance ministry on Wednesday said the government will borrow Rs 4.34 lakh crore in the second half of the current fiscal to meet its expenditure requirement amid COVID-19 crisis afflicting the country's economy.
Despite crude comfort, heavy spending cuts needed to offset Rs 80k-cr revenue shortfall
Anticipating an adverse impact in view of a bad monsoon, Finance Minister Pranab Mukherjee on Tuesday set an ambitious direct tax collection target for the current fiscal, revising it upward to Rs 4 lakh crore, up Rs 30,000 crore (Rs 300 billion) over the Budget estimates.
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
The government on Tuesday exuded confidence that revenues from sale of spectrum for 3G telephony and broadband may touch Rs 50,000-55,000 crore (Rs 500-550 billion), beating the budget estimates of Rs 35,000 crore (Rs 350 billion).
India's fiscal deficit shot up over 23 per cent to Rs 3.80 lakh crore in the first eleven months of this fiscal
Railways to have functional autonomy, bear salary burden
The government is committed to restrict the fiscal deficit at 3.4 per cent of GDP as envisaged in the Budget.
'We carry 6.5 billion passengers every year. We have crossed seven billion this year, and are targeting 10 billion by 2030.'
India's fiscal deficit soared by 34 per cent to Rs 3.5 lakh crore in the first ten months of the financial year against Rs 2.62 lakh crore a year ago, mainly on account of the stimulus measures taken by the government to prop up the economy hit by the global financial crisis.
