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Fiscal deficit had soared to seven-year high of 4.6 per cent of GDP in 2019-20, mainly on account of poor revenue realisation which dipped further towards the close of March because of the lockdown.
Over 100 people have been arrested so far in the crackdown, according to Punjab Police.
In absolute terms, the fiscal deficit, or gap between expenditure and revenue receipts, stood at over Rs 5.07 lakh crore (Rs 5.07 trillion) at the end of February, according to the data released by Controller General of Accounts on Thursday.
The defence ministry's Controller General Defence Accounts has questioned the army for procuring ration for 14 lakh personnel during 2010-11 while its actual strength is only about 11.5 lakh.
Fiscal deficit has come down by over 34 per cent to Rs 53,235 crore (Rs 532.35 billion) in the first half of 2004-05 mainly due to government's expenditure control measures and higher tax mop up.
This is slightly better than the fiscal deficit position last year when it was 85.6 per cent of the Budget target.
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The Union government's fiscal deficit further widened to Rs 9.53 lakh crore, which is nearly 120 per cent of the annual budget estimate, at the end of October of the current financial year, according to official data released on Friday. The deficit widened mainly on account of poor revenue realisation. The lockdown imposed to curb spreading of coronavirus infections had significantly impacted business activities and in turn contributed to sluggish revenue realisation.
Rishi Piparaiya lists three simple steps to manage the impact of rising prices and protect your financial future
The Centre's fiscal deficit for the first two months (April-May) of the current fiscal has increased to Rs 90,758 crore, which is 27.3 per cent of the Interim Budget estimate, according to the Controller General of Accounts data released on Tuesday. The Budget estimate for the fiscal deficit in the year 2009-10 is Rs 3,32,835 crore.
Taking lessons from that, I would think seamless digital payments is something you have to clearly have a roadmap for, the FM said.
In a relief to senior Indian Police Service (IPS) officer Sanjay Kundu, the Supreme Court on Friday set aside the Himachal Pradesh high court direction to remove him from the post of state Director General of Police over allegations that he tried to pressure a businessman who claimed to have received a threat to his life from his partners.
The self-employed should invest in the National Pension System, a government-backed, low-cost retirement avenue where they can choose the mix of debt and equity that is right for them.
The Drugs Controller General of India, the apex drug regulator, has included a new clause in the trial approval letters, making these firms also accountable for any possible adverse event.
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
The Imphal Valley in Manipur, which remained peaceful for most of Friday, witnessed sporadic clashes later in the day as more security forces were rushed in from other states by road and air to calm down a state which had witnessed bloody ethnic rioting over the last 48 hours.
The government's fiscal deficit during 2011-12 worked out to be 5.7 per cent of the GDP, lower than 5.9 per cent projected in the revised estimates in the Budget.
The rise in the fiscal deficit, which is a reflection of the government's borrowing, was mainly on account of subdued tax collection. The revenue deficit also rose to 3.27 per cent, up from the revised estimate of 2.4 per cent of the GDP.
Jaahnavi Kandula was killed in January after she was struck by a police vehicle driven by officer Kevin Dave.
With the BCCI threatening to call off the ongoing series between India and New Zealand, the Justice R M Lodha led panel on Tuesday clarified that they didn't direct the banks to freeze the accounts of the Board and it should carry on with its routine expenses. Fuming at the defiance of its recommendations, the Supreme Court-appointed Lodha panel had "directed" banks, where BCCI holds accounts, not to disburse "large" funds to the state associations, a decision taken by the Board at its Special General Meeting on September 30.
The Organised Crime and Corruption Reporting Project (OCCRP) on Thursday trained its guns on the Adani Group, alleging hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family, charges the conglomerate denied vehemently.
The 55 basis point (bps) spike in the US 10-year bond yield, triggered by a combination of FOMC's hawkish commentary and BOJ's relaxation of the yield control curve (YCC) has made analysts cautious on Asian equities and expect them to trade sideways in the short-to-medium term.
The government had pegged the fiscal deficit for 2020-21 at Rs 7.96 lakh crore or 3.5 per cent of the GDP in the budget presented by Finance Minister Nirmala Sitharaman in February.
Policies to break down the business group format are far more likely to be effective, argues Simon Commander.
The Supreme Court on Thursday directed rival groups Shiromani Gurdwara Parbhandhak Committee and Haryana Sikh Gurdwara Management Committee to maintain status quo on the management control of Gurdwaras in Haryana till further orders and directed the state government to take all steps to maintain law and order.
MMFS is looking at a compounded annual growth rate (CAGR) of 18 per cent in assets under management (AUM) during FY23 to FY26 on the back of the strong recovery. The company has initiated risk-mitigating initiatives, including diversification into non-vehicle loans, building digital capacity and re-classification of customer profiles into affluent and mass-affluent in semi-urban segments to better target marketing.
Is the curated and limited data put out by the central government sufficient enough to pass a judgement on the trend in GST collections, particularly that of the Centre?
Ahead of the Winter session of Parliament beginning on December 4, the Congress' Lok Sabha leader Adhir Ranjan Chowdhury on Saturday wrote to Speaker Om Birla, saying the expulsion of Trinamool Congress MP Mahua Moitra from Parliament is an 'extremely serious punishment and has very wide ramifications'.
The much speculated expansion of the Uttar Pradesh cabinet will take place on Thursday. Chief Minister Aklhilesh Yadav, who gave indications to that effect on Tuesday, is all set for enlarging the size of his 56-member council of ministers.
Thirty-seven-year-old Indian-American physician Vivek Hallegere Murthy has been confirmed as the 19th surgeon general of America by the United States senate. He is youngest person and first person of Indian-origin to hold the post.
In a memorandum submitted to Manipur Governor Anusuiya Uikey, the 21 opposition MPs who signed the document demanded urgent rehabilitation and resettlement of the affected people to bring peace and harmony to the state.
'However, to establish a quid pro quo, one can potentially see several things, like whether they got any benefits from the party that they gave money to. That is something that people (of India) will gauge. But to finally establish that there was money paid as consideration, it would require an investigation, a proper investigation, to be able to come up with such conclusions.'
According to DMK, the voters are already consolidated on ideological lines, hence the impact of anti-incumbency, whether against the BJP Centre or the DMK state may not be too much, notes N Sathiya Moorthy.
The power sector is always strongly correlated to economic activity and is receiving its share of investor attention as India's post-Covid-19 recovery continues. India's leading integrated power producer, the public sector undertaking (PSU) NTPC controls around 25 per cent of India's power capacity. It continues to increase installed capacity, in thermal as well as renewables (solar, wind, green hydrogen) and hydropower and pumped hydro, and also has backward integration into coal mining, and explored nuclear.
Bajirao, an unorthodox leader, faced much opposition during his lifetime from the Brahmins of Pune. In the last hundred years or so, he has been ignored due to caste politics in Maharashtra where he has become a 'non person' for having been born a Brahmin, says Colonel Anil A Athale (retd).
Congress leader Sachin Pilot on Thursday expressed happiness that the Congress party has taken cognisance of the issues raised by him about welfare of youth and corruption under the previous Vasundhara Raje government in Rajasthan, and asserted the party will contest the assembly polls unitedly to secure a massive victory.
Excise collections for April have been badly hit, resulting the fiscal deficit touching 16 per cent of target in the very first month itself, which could douse expectations of interest rate cuts.
