Key Points
Experts and economists have hailed the fiscal projections in the interim Budget, saying the lower fiscal deficit forecast shows that the government, even in an election year, is serious about fiscal consolidation and that the numbers look achievable...
Compared to 5.9%, which was a budget estimate, the actual fiscal deficit has been announced at 5.8%..
The projected fiscal deficit numbers for FY24 and FY25 suggest that the government is serious about achieving the fiscal consolidation path of 4.5 per cent fiscal deficit by FY26, and given the nominal GDP growth assumption and revenue buoyancy, the target appears plausible, Pant said in a note...
Aditi Nayar, the chief economist at Icra Ratings, said the higher than expected capex (Rs 10 lakh crore vs Rs 9.3 lakh crore for FY24, and Rs 11.1 lakh crore vs 10.2 lakh crore for FY25; and lower than projected fiscal deficit of 5.8 per cent for FY24 vs 6 per cent earlier, and 5.1 per cent for FY25 vs 5.3 per cent seen earlier) suggest that the quality of expenditure is going to be healthier than earlier...
This implies that Rs 3.6 lakh crore will be released in Q4, which is 5 per cent higher year-on-year, which provides a further downside to state bond issuance in the current quarter, which was indicated at Rs 4.1 lakh crore, she said.. Ashish Chauhan CEO National Stock Exchange of India (NSE) said, When the Budget speech was being read, three words that came to my mind were growth, welfarism and fiscal restraint..
You might be interested in
Fiscal deficit touches 82.8 pc of full-year target in February: Government
31, Mar, 23For the full year 2022-23, the government expects the deficit at Rs 17.55 lakh crore or 6.4 per cent of the GDP.
India's April-July fiscal deficit at Rs 6.06 lakh cr, 33.9% of FY24 target
31, Aug, 23The deficit stood at 20.5 per cent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23.
India Budget 2024: Key takeaways from Modi 2.0's last finance bill
01, Feb, 24India's interim Budget disappoints taxpayers with no changes to tax structure. However, the government focuses on fiscal consolidation, capital expenditure, and social welfare services. Finance Minister Sitharaman aims to reduce fiscal deficit to 4.5% of GDP by FY26. Revised fiscal deficit target is 5.8% of GDP for FY25. Here are the other top takeaways from the Interim budget
Union Budget news: Fiscal prudence likely to remain top priority yet again for FM Sitharaman?
07, Jan, 24Union Budget 2024: India's finance ministry, led by Nirmala Sitharaman, is focusing on fiscal prudence to reduce the fiscal deficit to 4.5% by FY26. The government's focus on infrastructure spending is expected to continue, as high hopes of re-election in April-May 2024 have allowed the government to control populist measures. The Indian economy is expected to grow at 7.3% in the current financial year
India Budget: New Delhi to borrow Rs 14.13 lakh crore in FY25, bond yields plunge
01, Feb, 24Budget Announcements: The Indian government plans to borrow 14.13 trillion rupees ($170.36 billion) in the next fiscal year, lower than economists' estimates, according to Finance Minister Nirmala Sitharaman. Net borrowings are expected to remain largely unchanged from the current fiscal year, at 11.75 trillion rupees. The funds will be used to finance a fiscal deficit of 5.1% of GDP, with the government also conducting switch auctions worth 1 trillion rupees. Additionally, 4.66 trillion rupees will be raised through India's small savings fund to cover the budget gap.
Budget 2024: Capex, fiscal deficit & more; here's a look at all the key numbers you need to know
02, Feb, 24Union Budget 2024: Union Finance Minister Nirmala Sitharaman presented the 'Vote on Account' budget for FY25, focusing on women, youth, farmers, and the poor. The budget aims to address financial needs until a new government is formed after elections. The government has raised the capital expenditure target by 11.1% to Rs. 11.11 lakh crore, representing 3.4% of the GDP.
Interim Budget 2024: Buoyant tax collections open doors for increased budget allocation for social sector,
22, Jan, 24Budget 2024: The Indian government is expected to have more funds for farmers and social sector schemes in the upcoming interim budget, thanks to increased tax buoyancy. The focus will be on addressing issues faced by poorer sections, particularly in rural areas. Income tax and GST collections have been strong, with the total direct tax mop-up likely to exceed budget estimates by about Rs 1 lakh crore. However, there may be a shortfall in excise and customs duties collections.
NDA vs UPA: How the two governments fared on capex and subsidies in the last 20 years
31, Aug, 23Annual capex under the UPA government increased 72 per cent to Rs 1.88 lakh crore in FY14 from 1.09 lakh crore in FY04. During the Modi government it has increased 433 per cent to Rs 10.01 lakh crore
Fiscal deficit at Jan-end touches 63.6 pc of full year target, says govt data
29, Feb, 24For 2023-24, the government's fiscal deficit is estimated at ₹17.35 lakh crore or 5.8 per cent of the GDP