DEFICIT

  • China lowers 2015 GDP growth target to 7 per cent, lowest since 1990 Yesterday

    Beijing: China has budgeted for a national fiscal deficit of 1.62 trillion yuan ($258 billion) in 2015, the Ministry of Finance said on Thursday in its work plan unveiled at the annual parliament meeting. The government aims for 2015's deficit to be equivalent to 2.3 per cent of gross domestic product...
  • Budget 'credit neutral' from a ratings perspective: Moody's 5 days ago

    Mumbai: Moody's Investors Service said India's 2015/16 budget unveiled on Saturday was "credit neutral," adding the agency would monitor whether the government can fulfill its pledge to meet its fiscal deficit by boosting economic growth. The government on Saturday pushed back the deadline to cut the fiscal deficit to 3 per...
  • In pics: Budget at a glance 5 days ago

    Finance Minister Arun Jaitley on Saturday announced a Budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work. Billed as a test of PM Narendra Modi's willingness to reform a $2 trillion economy with a...
  • In pics: Budget in numbers 5 days ago

    Finance Minister Arun Jaitley on Saturday announced a budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work. Billed as a test of the PM's willingness to reform a $2 trillion economy with a bloated...
  • Arun Jaitley's Budget aims growth first, gives big bang reforms a miss, fiscal deficit cut to wait 6 days ago

    New Delhi: Finance Minister Arun Jaitley on Saturday announced a budget that put boosting growth before painful reforms, slowing the pace of fiscal deficit cuts and seeking to put domestic and foreign capital to work. In his first full-year budget since Prime Minister Narendra Modi's landslide election victory in May 2014,...
  • Watch: How this budget has impacted you? 6 days ago

    Finance Minister Arun Jaitley on Saturday presented the first full-fledged Budget of the Narendra Modi government aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. ...
  • Finance Minister Arun Jaitley's Budget goes for growth, focuses on social security, delays fiscal cuts 6 days ago

    New Delhi: Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit. Jaitley, delivering his first full-year budget since Prime Minister Narendra Modi's landslide election victory...
  • Union Budget 2015 should focus on manufacturing: Experts 1 week ago

    "Union Budget 2015 should focus on manufacturing and should spend money on infrastructure. The Budget must stick to the Fiscal Deficit target," say experts. ...
  • Union Budget 2015: Fiscal reforms will determine ratings, says Moody's February 25, 2015

    Mumbai: Moody's Investors Service said on Wednesday that its assessment of India's credit ratings will be determined mainly by the extent of its fiscal reforms, not recent revisions to its economic growth data. The comments come a day after rival Standard & Poor's said India must boost growth, cut its fiscal...
  • Falling oil prices shrink trade deficit to 11-month low February 14, 2015

    New Delhi: Trade deficit narrowed to an 11-month low in January, helped by a plunge in global oil prices, bolstering the outlook for India's current account balance as well as the rupee. But in a worrying sign, weak global demand led to a second straight annual fall in merchandise exports. Exports...
  • Jaitley hints at more cuts in spending, says government shouldn't live on borrowed money February 6, 2015

    Mumbai: Having already crossed the fiscal deficit target in November, Finance Minister Arun Jaitley on Friday hinted at more cuts in spending so as to contain it within limits for the current fiscal, saying he does not believe in living on borrowed money. "We're trying to rationalise expenditure as far...
  • GDP base year revision may help government contain fiscal deficit January 29, 2015

    New Delhi: A new series of national accounts with 2011-12 as base year for computing economic growth rate will be released on Friday, which may provide some cushion to government struggling to meet fiscal deficit target. With the revision of base year, the size of economy is expected to bigger...
  • Union Cabinet will consider sale of stake in Indian Oil, say sources January 21, 2015

    New Delhi: The Cabinet Committee on Economic Affairs will discuss on Wednesday the possible sale of a 10 percent stake in Indian Oil Corporation, two sources with knowledge of the matter said, as the government finds ways to meet its fiscal deficit target. The sale of a stake in India's largest...
  • India will become a country of opportunities, says PM Modi January 16, 2015

    New Delhi: India will become a country of opportunities and the government is committed to achieving the fiscal deficit target, said Prime Minister Narendra Modi on Friday. Speaking at the ET Global Business Summit in New Delhi, Modi said the New Age India has also begun its transition from a winter...
  • RBI surprises by cutting repo rate by 25 basis points, hints lowering rates further January 15, 2015

    New Delhi: The Reserve Bank of India cut its repo interest rate by 25 basis points to 7.75 per cent in a surprise move on Thursday, making its first reduction in a year as inflation showed signs of slowing and the government was making efforts to contain the fiscal deficit. The...
  • Urban housing deficit more than 18 million, says Venkaiah Naidu November 5, 2014

    New Delhi: India has been assessed to have a deficit of about 18.78 million housing units in urban areas, and more than 95 per cent of the same pertain to economically weaker sections and low income groups of the society, Urban Development Minister Venkaiah Naidu on Wednesday said. In this...
  • P Chidambaram advises against lifting curbs on gold imports October 12, 2014

    Mumbai: Former finance minister P Chidambaram has advocated against lifting of curbs on gold imports, saying the benefits accruing from restrictions would far outweigh problems like spurt in smuggling. "No. Not in my view," Chidambaram, who initiated these measures as the Finance Minister in the previous UPA regime in the face...
  • Disinvestment proceeds spent only to meet fiscal deficit: CPM September 30, 2014

    New Delhi: Countering government's justification for divesting stakes of PSUs, CPI(M) has said that the disinvestment proceeds were only being spent to meet fiscal deficit instead of being used for capital expenditure and social sector schemes. "Fact remains that the government is losing dividend income more and more as it...
  • Parkash Singh Badal seeks financial package from Centre for Punjab September 22, 2014

    New Delhi: Punjab Chief Minister Parkash Singh Badal on Monday sought a "liberal financial package" for his state from Prime Minister Narendra Modi. Badal accompanied by Deputy Chief Minister Sukhbir Singh Badal called on Modi at his residence and sought a relief package of Rs 2,330 crore for farmers due...
  • India to revise GDP measurement next year, economy may be larger September 9, 2014

    New Delhi: India will soon revise the way it measures gross domestic product to reflect underrepresented and informal economic sectors, two government sources said, in an initiative that is expected to show the economy is larger than previously thought. India usually revises the method of calculating national accounts and other macro...
  • India's rating seen limited by fiscal deficit, inflation: Moody's September 3, 2014

    Mumbai: India's fiscal deficit and inflation outlook could prevent any upgrades in the country's sovereign rating, even as the economy is headed for recovery, Moody's Investors Service said on Wednesday. Although Moody's expects the government to meet the fiscal deficit target of 4.1 percent for the fiscal year ending in...
  • CAD narrows sharply to 1.7 pc in AprilJune quarter September 1, 2014

    New Delhi: India's Current Account Deficit narrowed sharply to 1.7 per cent of GDP in the AprilJune 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 11month high at $11.76 billion July 16, 2014

    New Delhi: The June trade deficit touched 11month high to $ 11.76 billion against $ 11.23 billion (MoM) and $ 11.28 billion (YoY). 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. Fullygrown 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 201415 at 4.1 per cent of GDP and reduce it further to 3 per cent by 201617. Presenting his maiden Budget, the Minister said the prevailing...
  • Highlights of Union Budget 201415 July 10, 2014

    New Delhi: Finance Minister Mr Arun Jaitley in the Budget 201415 salaried class tax breaks and increased the range of savings. Special focus on women and children's facilities, the construction of worldclass cities, and welfare of senior citizens. Here are the highlights of the budget presented by Finance Minister...