Deficit

  • CAD narrows sharply to 1.7 pc in April-June quarter Yesterday

    New Delhi: India's Current Account Deficit narrowed sharply to 1.7 per cent of GDP in the April-June quarter of this fiscal mainly on account of reduction in trade deficit, and a steep decline in gold imports. "The lower CAD was primarily on account of a contraction in the trade deficit contributed...
  • Rain deficit in Kerala narrowed down to minus five per cent August 23, 2014

    Thiruvananthapuram: With monsoon becoming active again after a lull, rain deficit in Kerala has narrowed down to five per cent less for the season. The state received 1620.1 mm rainfall against a normal of 1701.4 mm from June 1 to August 22, according to meteorological centre...
  • After onions, tomatoes prices shoot up in metros July 16, 2014

    New Delhi: Inflation is showing no sign of letting up as tomato prices have shot up in the metros. Deficient rains across the country have led to a fall in production which has squeezed supplies to cities. Tomato prices have touched a high of Rs 60 in many parts of Delhi,...
  • June trade deficit touches 11-month high at $11.76 billion July 16, 2014

    New Delhi: The June trade deficit touched 11-month high to $ 11.76 billion against $ 11.23 billion (MoM) and $ 11.28 billion (Y-o-Y). Though the imports dipped slightly to $ 38.24 billion against $ 39.23 billion on a month on month basis, it grew 8.3 per cent on a year...
  • S&P says budget has no impact on India's sovereign ratings July 14, 2014

    Mumbai: Standard & Poor's said that the budget would not have an impact on India's sovereign ratings until the agency could see how the measures will be implemented, especially regarding meeting the fiscal deficit target. Finance Minister Arun Jaitley said last week that India would stick to the fiscal deficit target...
  • Finance secretary Mayaram defends 4.1 per cent fiscal deficit target July 13, 2014

    New Delhi: Finance Secretary Arvind Mayaram said that plans announced in this week's budget to stick to a fiscal deficit target of 4.1 per cent of GDP are "very credible", despite criticism from ratings agencies that the number is optimistic. Prime Minister Narendra Modi, who took office in May, on Thursday...
  • Coorg: Coffee plantation takes a hit as deficit monsoon damages crops July 11, 2014

    Coorg: Coffee capital Coorg, a region that sees heavy rains every year, is facing a deficit monsoon this year. Fully-grown coffee plants are being set in flames due to the pest that thrives during extended dry spells. Along with the coffee plants, it is also the hopes of people like Stany...
  • Arun Jaitley retains fiscal deficit target at 4.1 pc, outlines road map July 10, 2014

    New Delhi: Outlining the road map for fiscal consolidation, Finance Minister Arun Jaitley on Thursday said the government will retain the fiscal deficit target for 2014-15 at 4.1 per cent of GDP and reduce it further to 3 per cent by 2016-17. Presenting his maiden Budget, the Minister said the prevailing...
  • Highlights of Union Budget 2014-15 July 10, 2014

    New Delhi: Finance Minister Mr Arun Jaitley in the Budget 2014-15 salaried class tax breaks and increased the range of savings. Special focus on women and children's facilities, the construction of world-class cities, and welfare of senior citizens. Here are the highlights of the budget presented by Finance Minister...
  • Fiscal deficit for 2014-15 projected at 4.5 per cent of GDP: Arun Jaitley July 9, 2014

    New Delhi: Finance Minister Arun Jaitley on Wednesday presented the Economic Survey 2014-15 in the Lok Sabha and pointed towards the worsening Fiscal situation. He said that the fiscal deficit for 2014-15 year is projected at 4.5 per cent of Gross Domestic Product (GDP). He assured that the government will...
  • Economic Survey urges strong steps to contain fiscal deficit July 9, 2014

    New Delhi: Fiscal situation is worse than it appears, Prime Minister Narendra Modi's government said in an economic report on Wednesday that called for tough measures to shore up public finances and reduce inflation. The report's tone will increase speculation that Finance Minister Arun Jaitley, in presenting his first Budget to...
  • April-May fiscal deficit is Rs 2.4 lakh crore June 30, 2014

    New Delhi: The fiscal deficit in the first two months of 2013-14 was Rs 2.4 lakh crore or 45.6 per cent of Budget Estimates for the whole financial year. The fiscal deficit -- the gap between expenditure and revenue -- for the whole fiscal has been pegged at Rs 5.28...
  • PM meets Finance, Agriculture, Food Ministers to discuss inflation June 26, 2014

    New Delhi: Prime Minister Narendra Modi on Thursday called a meeting with Finance Minister Arun Jaitley, Agriculture Minister Radha Mohan Singh and Food Minister Ram Vilas Paswan to discuss inflation. Sources say the agenda is to prepare the contingency plans in case of a monsoon deficit. The monsoon's progress has weakened,...
  • BJP debates junking deficit cut roadmap May 15, 2014

    The Bharatiya Janata Party (BJP) set to form the next government, is debating scrapping or revising a plan to cut the fiscal deficit to a nine-year low over the next three years, sources with direct knowledge of the situation told Reuters. While the BJP is not bound by the roadmap of...
  • Ground realities: Nine election issues no one is talking about April 29, 2014

    Like one of those professional wrestling cage matches, Elections 2014 has become a slugfest with more chaos, heat and dust than light. Also, just like a cage match, it is by now difficult to determine whether the vitriol and melodrama is real, feigned or well scripted. Score at half-time: Gandhi...
  • Exports up 3.98 per cent to $312.35 billion in 2013-14 April 11, 2014

    New Delhi: India's exports grew by 3.98 per cent to $312.35 billion in FY 2013-14 while imports dipped by 8.11 per cent during the period. Imports declined to $450.94 billion, narrowing the trade deficit to $138.59 billion in the last fiscal. In FY 2012-13, trade deficit stood at $190.33 billion. However, in...
  • Modi represents crony capitalism, big businesses support him: FM March 31, 2014

    New Delhi: Finance Minister P Chidambaram on Monday hit out at Narendra Modi, the prime ministerial candidate of the BJP, saying he represented "crony capitalism" and big businesses which liked it, supported him. "Modi is associated with crony capitalists. Big businesses which are comfortable with the idea support him," he said. The...
  • April-January fiscal deficit at $ 86 billion, crosses full year target February 28, 2014

    India's fiscal deficit in the first ten months of the 2013-14 financial year crossed the target for the whole year, putting pressure on the finance minister of Asia's third-largest economy to cut spending ahead of an election. The fiscal deficit touched 5.33 trillion rupees during April-January, or 101.6 per cent of...
  • Ashamed at the way business transacted in Parliament: Chidambaram March 1, 2014

    Karan Thapar: Hello and welcome to Devil's Advocate. How credible is the governments claim that it has reduced the fiscal deficit to 4.6 per cent of GDP. That is one of the key issues I should explore today with the finance minister P Chidambaram. Karan Thapar: Twenty four hours after you...
  • Rajasthan industry welcomes state's interim budget February 20, 2014

    Trade and industry bodies om Thursday  welcomed the interim budget of Rajasthan, saying that the government has focused on fiscal consolidation. "The focus of the chief minister to keep fiscal eficit below 3 per cent, checking the fiscal deficit at 2.86 per cent for the current fiscal year is really commendable," Ratnesh P Kashyap, Chairman...
  • CAD to be $ 45 bn this year: Chidambaram February 17, 2014

    New Delhi: India's current account deficit (CAD) will be contained at USD 45 billion this financial year, well below the record high level of 2012-13, Finance Minister P Chidambaram said on Monday. "CAD that threatened to exceed last year's USD 88 billion will be contained at USD 45 billion," he...
  • Fiscal deficit will be contained at 4.6 pc of GDP: Chidambaram February 17, 2014

    New Delhi: The government on Monday said the fiscal deficit for the current financial year will be contained at 4.6 per cent of GDP. "Let me begin with the good news. Fiscal deficit for 2013-14 will be contained at 4.6 per cent of GDP, well below the red line that...
  • Budget 2014: As it happened February 17, 2014

    New Delhi: 12:07 pm: Towards the end of his speech, Chidambaram says, "140 million moved out of poverty during UPA-I and UPA-II regime and we are legitimately proud of it." 12:05 pm: Excise duty on mobile handset will be 6 pc on CENVAT credit to encourage domestic production. 12:02 pm: Excise...
  • UPA-II to present its last Budget today, fears Telangana disruption February 17, 2014

    New Delhi: Finance Minister P Chidambaram will present the last interim budget of the UPA-II on Monday in Parliament. Chidambaram will present the vote on account on Monday, giving an estimate of funds required to meet expenditure until a new government is in place. Chidambaram will give a report card on...
  • Fiscal deficit in Vote on Account may impress market: Choksey February 14, 2014

    According to Deven Choksey, government would probably discuss fiscal deficit which is much healthier, but there is unlikely to be any change in market movement due to Vote on Account on Monday. According to Deven Choksey, government would probably discuss fiscal deficit which is much healthier, but there is unlikely to...
  • Trade deficit narrows on 77 per cent drop in gold imports February 11, 2014

    India's trade deficit narrowed in January, helped by a 77 per cent drop in imports of gold and silver while exports ticked up, improving the outlook for the country's fragile current account balance. The trade ministry said it had recommended easing curbs on gold imports, prompted by the brighter trade picture....
  • December trade deficit narrows to 10.14 billion dollar January 10, 2014

    Mumbai: The December 2013 trade deficit for India came in at 10.14 billion dollar versus 17.19 billion dollar in December in 2013. The reduction was driven by a 15.25 per cent fall in imports, which came in at 36.49 dollar per cent while exports grew at 3.5 per cent to...
  • Rajasthan's fiscal deficit worsened in Congress regime: Vasundhara Raje December 24, 2013

    Newly-elected Rajasthan Chief Minister Vasundhara Raje on Monday asserted that improving the state's economy will be her top priority, saying fiscal situation had worsened in the previous Congress regime with the deficit touching 2.48 per cent of GDP in 2013-14. "Fiscal deficit was 6.6 per cent of gross domestic product (GDP)...
  • Defeat of Congress may lead to higher fiscal deficit: Fitch December 10, 2013

    Global rating agency Fitch on Tuesday expressed fear that the defeat of Congress in four of the five state Assembly elections could lead to higher fiscal deficit target as the government would be constrained to curb expenditure. "The setback faced by the Congress Party in state elections could potentially raise political...
  • Chidambaram should apologise for his 'wrong and hasty' remark on Modi: BJP December 1, 2013

    New Delhi: BJP on Sunday termed as "wrong and hasty" Finance Minister P Chidambaram's statement that Narendra Modi was giving lessons in economy and sought an apology from him. The controversy erupted when Chidambaram said Modi had quoted him wrongly as having claimed that buying gold leads to inflation. The Finance...