Key Points
The Centre's fiscal deficit could come in marginally lower than the downwardly revised estimate of 5.8% of GDP on the back of robust revenues and lower subsidy outgo, officials said.. Tax revenues could exceed the upwardly revised estimate of 26.99 lakh crore by 27,000 crore...
"Fiscal deficit is marginally narrower than even the revised estimates - both in percentage as well as absolute terms," a senior official told ET..
FY24 fiscal deficit in absolute terms was pegged at 17.3 lakh crore..
Direct tax receipts are expected to exceed revised estimates by about Rs 14,000 crore while indirect revenues, including customs and excise duty, by Rs 13,000 crore...
Non-tax revenue for FY24 is already up by 13,700 crore on account of higher dividend receipts from central public sector enterprises which exceeded the revised estimate of 50,000 crore at 63,700 crore on March 31, 2024...
You might be interested in
Centre may save ₹45k cr on lower capex by states, subsidy payout
15, Mar, 24Central government plans to cut fiscal 2024 spending by ₹45,000 crore with savings from subsidy bill reductions, states' under-utilisation, and improved tax collections. Softening fertiliser prices and revised expenditure estimates also contribute to the savings.
Govt spent 80% of revised FY24 capex outlay
26, Feb, 24The official said the collections under various small savings scheme remain healthy this fiscal and will be in sync with the revised estimate. The net mop-up for senior citizens breached ₹90,000 crore as of end-January this fiscal, way above that of ₹37,362 crore in the whole of FY23. The surge is mainly driven by the 2023 Budget move to double the deposit limit under the scheme to₹30 lakh.