Pandemic, Investment Curbs Help India Reduce Trade Deficit With China

Pandemic, Investment Curbs Help India Reduce Trade Deficit With China

New Delhi:  The disruptions caused by Covid pandemic and additional checks on investment helped India to reduce its widening trade deficit with China in 2020. As per official data, India’s trade deficit with China declined by 19.39 per cent from $56.95 billion in 2019 to $45.91 billion in 2020. The decline had largely been supported … Read more

Govt To Return To Pre-COVID Fiscal Deficit Path In 3 Yrs: Sanjeev Sanyal

Govt To Return To Pre-COVID Fiscal Deficit Path In 3 Yrs: Sanjeev Sanyal

New Delhi: The government, which announced higher spending in key sectors to propel economic growth after a COVID-triggered contraction, intends to return to its original fiscal deficit path in three years, Sanjeev Sanyal, Principal Economic Advisor to the Finance Ministry, said on Wednesday. Addressing a webinar organised by the Public Affairs Forum of India (PAFI) … Read more

Disinvestment Aimed At Growth, Not To Plug Fiscal Deficit: Tuhin Kanta Pandey

Disinvestment Aimed At Growth, Not To Plug Fiscal Deficit: Tuhin Kanta Pandey

New Delhi:  As the Budget 2021 comes up with major thrust on privatisation of public sector enterprises, Disinvestment Secretary, Tuhin Kanta Pandey has said that the government’s new disinvestment policy is aimed at economic growth and employment creation, rather than plugging the vast fiscal deficit. The statement coming from the top official gains significance as … Read more

Fiscal Deficit Of States To Hit Peak Of Rs 8.7 Lakh Cr As Tax Collections Slide

Fiscal Deficit Of States To Hit Peak Of Rs 8.7 Lakh Cr As Tax Collections Slide

New Delhi:  The Covid pandemic-induced lockdown and consequent slump in economic activity will hit tax collections of states and result in a near four-fold expansion in their revenue deficits this fiscal, year-on-year, ratings agency Crisil said in a report. With this, the states’ aggregate gross fiscal deficit (GFD) will not only get expanded to an … Read more

India’s Apr-Nov Fiscal Deficit At Over 135% Of Budgeted Target

Depreciation Risk Rises For Rupee, As Oil Prices Soar

New Delhi: India’s budgetary fiscal deficit for the April-November 2020-21 period stood at Rs 10.75 lakh crore, or 135.1 per cent of the budget estimates (BE). The 2020-21 deficit — the difference between revenue and expenditure — had been pegged at Rs 7.96 lakh crore, as compared to the revised deficit of Rs 7.66 lakh crore … Read more

States’ Fiscal Deficit To Almost Double In FY21, Suggests RBI Report

States' Fiscal Deficit To Almost Double In FY21, Suggests RBI Report

New Delhi:  The states’ finances are going deeper into a crisis situation with a new Reserve Bank of India report now pegging average gross fiscal deficit of all states at 4.6 per cent of GDP in FY21, almost twice the level earlier budgeted for the year. The alarming situation has been pushed by the Covid-19 … Read more

State Govts’ FY21 Deficit Seen Higher At 5% Of GSDP

State Govts' FY21 Deficit Seen Higher At 5% Of GSDP

New Delhi:  State governments’ deficit is seen higher at 5 per cent, up from earlier estimate of 4.5 per cent of gross state domestic product (GSDP) as Covid-19 continues to suppress economic activities resulting in lower resource mobilisation and higher state expenditure, Kotak Institutional Equities said on Monday. In a research report on public finance, … Read more

Fiscal Deficit May Rise Over 8% Of GDP In FY21

Fiscal Deficit May Rise Over 8% Of GDP In FY21

New Delhi:  With economic disruptions set for a long haul due to Covid-19 pandemic, India could see its fiscal deficit this year to balloon to over 8 per cent of GDP, brokerages analysing the deficit numbers post release of August GST collection data have said. The Controller General of Accounts on Monday said that country’s … Read more

Fiscal Deficit Expected To Touch 7% Of GDP In 2020-21: Brickwork Ratings

Fiscal Deficit Expected To Touch 7% Of GDP In 2020-21: Brickwork Ratings

Mumbai:  Centre’s fiscal deficit is expected to touch 7 per cent of the GDP in 2020-21, against budget estimates of 3.5 per cent, Brickwork Ratings said on Saturday. The ratings agency said that the impact of the lockdown on economic activity shows up starkly in the trends in the Central government revenue collection during the … Read more