DEFICIT

  • 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...
  • Fiscal deficit for 201415 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 201415 in the Lok Sabha and pointed towards the worsening Fiscal situation. He said that the fiscal deficit for 201415 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...
  • AprilMay fiscal deficit is Rs 2.4 lakh crore June 30, 2014

    New Delhi: The fiscal deficit in the first two months of 201314 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 nineyear 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 halftime: 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 February 21, 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 thegovernment has focused on fiscal consolidation. "The focus of the chief minister to keep fiscal eficitbelow 3 per cent, checking the fiscal deficit at 2.86 per centfor the current fiscal year is really commendable," Ratnesh PKashyap, 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 201213, 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 201314 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 UPAI and UPAII 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...
  • UPAII 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 UPAII 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...