Fiscal Deficit Target

Budget 2023: The finance minister retained the fiscal deficit target of 6.4 per cent in the revised estimate for FY2022-23 and reduced it to 5.9 per cent for the next fiscal.

Net tax receipts rose to 15.56 trillion rupees while total expenditure was 28.18 trillion rupees, government data showed.

These documents - Macro-Economic Framework Statement and Medium-Term Fiscal Policy cum Fiscal Policy Strategy Statement - are statements under the Fiscal Responsibility and Budget Management (FRBM) Act, 2003.

In pulling back the deficit, Finance Minister Nirmala Sitharaman's budget for the financial year beginning April 1 will also help hold inflation below the top of the central bank's target range, 6%.

Budget 2023: The Goldman Sachs Group has said that India might cut down its fiscal deficit target by 50 basis points for the next financial year starting 1 April 2023. Goldman economists wrote in a report that India will keep its deficit to 5.9 per cent of the gross domestic product.

In actual terms, the fiscal deficit -- the difference between expenditure and revenue -- was Rs 9,78,154 crore during the April-November period of 2022-23.

High nominal GDP growth in the first quarter supported strong growth in revenue collection, especially Goods and Services Tax (GST), despite tax cuts on fuel.

Spending by the Indian government this fiscal year could be less than budgeted for the first time in three years, two sources with direct knowledge of the matter told Reuters.

Despite the decision to extend the free ration scheme for the seventh time, the fiscal deficit will still meet the budget target of 6.4 per cent of the GDP for this year, a Finance Ministry official added.

The central government's fiscal deficit touched 21.2 per cent of the annual target in the June quarter as against 18.2 per cent in the year-ago period, according to official data.

Changes in import duty and a windfall tax on fuel exports will offset duty cuts on fuels and increase overall tax collection over the budget target this fiscal to Rs 20.70 lakh crore, per a report.

India's federal fiscal deficit between April and May touched $25.84 billion, or 12.3 per cent of the year-to-March budgeted target, data showed.

Government can meet the fiscal deficit target of 6.4 per cent for 2022-23 if there are no excise duty cuts to lower high oil prices

Government revenues have taken a hit following cuts in excise duties on diesel and petrol, posing risk to budget level of gross fiscal deficit

As per the report, the central deficit is expected to be at 6.7 per cent and states' at 3.5 per cent in the current fiscal

Budget 2023: The finance minister retained the fiscal deficit target of 6.4 per cent in the revised estimate for FY2022-23 and reduced it to 5.9 per cent for the next fiscal.

Net tax receipts rose to 15.56 trillion rupees while total expenditure was 28.18 trillion rupees, government data showed.

These documents - Macro-Economic Framework Statement and Medium-Term Fiscal Policy cum Fiscal Policy Strategy Statement - are statements under the Fiscal Responsibility and Budget Management (FRBM) Act, 2003.

In pulling back the deficit, Finance Minister Nirmala Sitharaman's budget for the financial year beginning April 1 will also help hold inflation below the top of the central bank's target range, 6%.

Budget 2023: The Goldman Sachs Group has said that India might cut down its fiscal deficit target by 50 basis points for the next financial year starting 1 April 2023. Goldman economists wrote in a report that India will keep its deficit to 5.9 per cent of the gross domestic product.

In actual terms, the fiscal deficit -- the difference between expenditure and revenue -- was Rs 9,78,154 crore during the April-November period of 2022-23.

High nominal GDP growth in the first quarter supported strong growth in revenue collection, especially Goods and Services Tax (GST), despite tax cuts on fuel.

Spending by the Indian government this fiscal year could be less than budgeted for the first time in three years, two sources with direct knowledge of the matter told Reuters.

Despite the decision to extend the free ration scheme for the seventh time, the fiscal deficit will still meet the budget target of 6.4 per cent of the GDP for this year, a Finance Ministry official added.

The central government's fiscal deficit touched 21.2 per cent of the annual target in the June quarter as against 18.2 per cent in the year-ago period, according to official data.

Changes in import duty and a windfall tax on fuel exports will offset duty cuts on fuels and increase overall tax collection over the budget target this fiscal to Rs 20.70 lakh crore, per a report.

India's federal fiscal deficit between April and May touched $25.84 billion, or 12.3 per cent of the year-to-March budgeted target, data showed.

Government can meet the fiscal deficit target of 6.4 per cent for 2022-23 if there are no excise duty cuts to lower high oil prices

Government revenues have taken a hit following cuts in excise duties on diesel and petrol, posing risk to budget level of gross fiscal deficit

As per the report, the central deficit is expected to be at 6.7 per cent and states' at 3.5 per cent in the current fiscal