Fiscal Deficits

  • April-January fiscal deficit at $ 86 billion, crosses full year target 28-02-2014 04:46 PM

    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...
  • Ashamed at the way business transacted in Parliament: Chidambaram 21-02-2014 03:41 PM

    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...
  • Rajasthan industry welcomes state's interim budget 20-02-2014 09:18 PM

    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,...
  • Fiscal deficit will be contained at 4.6 pc of GDP: Chidambaram 17-02-2014 11:50 AM

    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 17-02-2014 10:19 AM

    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:...
  • UPA-II to present its last Budget today, fears Telangana disruption 17-02-2014 07:50 AM

    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...
  • Fiscal deficit in Vote on Account may impress market: Choksey 14-02-2014 05:39 PM

    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...
  • Rajasthan's fiscal deficit worsened in Congress regime: Vasundhara Raje 24-12-2013 12:23 AM

    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...
  • Defeat of Congress may lead to higher fiscal deficit: Fitch 10-12-2013 02:45 PM

    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...
  • S&P says next government's agenda to determine rating 08-11-2013 09:52 AM

    Standard & Poor's said on Thursday it will review India's rating once a new government due to be elected next year lays out its policy agenda, reducing the prospect of a destabilising downgrade to below investment grade ahead of the polls. That could delay the next review until after May...
  • Diesel price hike the only option to reduce oil pool deficit: ONGC 03-09-2013 12:14 PM

    New Delhi: The Oil and Natural Gas Corporation (ONGC) said that a hike in diesel price is the only option to reduce the oil pool deficit as the cost of production has increased significantly. ONGC also expressed its fear that the risk of subsidy burden in Fiscal Year 2014 is...
  • Rupee fall, oil price hike will result in Rs 1,80,000 crore loss: Moily 31-08-2013 03:25 PM

    New Delhi: Battling double whammy of dipping rupee and surging global oil rates, Oil Minister M Veerappa Moily has written to Prime Minister Manmohan Singh saying without corrective steps losses on sale of subsidised fuel sales will rise to unprecedented Rs 1,80,000 crore. In a detailed note, Moily told the...
  • Decisions taken by government in 2008 led to rupee fall, admits Chidambaram 27-08-2013 02:06 PM

    New Delhi: As rupee reached a new record low of 66.07 vs US dollar on Tuesday, Finance Minister P Chidambaram admitted that the decisions taken by the government to counter the 2008 economic meltdown are among the reasons why the rupee depreciated. Chidambaram said the stimulus programme announced by the...
  • Cut expenditure to check further slide in the rupee, says Montek 25-08-2013 09:04 PM

    Deputy Chairman of the Planning Commission Montek Singh Ahluwalia has suggested a cut in wasteful government expenditure as a strong and necessary measure to control the fiscal deficit but defended financial burden of the Food Security Bill. He was speaking to Karan Thapar on Devil's Advocate. Here is the transcript...
  • Cut wasteful govt expenditures, but spare food subsidies: Montek 25-08-2013 05:42 PM

    Deputy Chairman of the Planning Commission Montek Singh Ahluwalia has suggested a cut in wasteful government expenditure as a strong and necessary measure to control the fiscal deficit but defended financial burden of the Food Security Bill. He was speaking to Karan Thapar on Devil's Advocate. Here is an excerpt...
  • Use foreign exchange reserves to curb the slide of the rupee: Montek 25-08-2013 01:46 PM

    New Delhi: Deputy Chairman of the Planning Commission Montek Singh Ahluwalia in an interview with Karan Thapar on CNN-IBN, suggested the use of foreign exchange reserves as a measure to finance the current account deficit. He said this was one step the government must take to if wants to check...
  • Economy is recovering, more reforms soon: Chidambaram 13-06-2013 11:12 AM

    New Delhi: Finance Minister P Chidambaram announced on Thursday that the government plans to announce more economic reforms soon. He asked people to not panic saying the economy is recovering. "Economy is stronger than what it was this time last year. Inflation too is low," the Union Minister said. Chidambaram...
  • RBI puts restrictions on gold imports by banks 13-05-2013 03:36 PM

    Mumbai: With gold imports putting pressure on the current account deficit, the Reserve Bank on Monday imposed restrictions on import of the yellow metal by banks. "To moderate the demand for gold for domestic use, it has been decided to restrict the import of gold on consignment basis by banks,...
  • Stimulus packages lead to fiscal deficit and inflation: FM 20-04-2013 03:10 AM

    Washington: Finance Minister P Chidambaram on Friday said the three stimulus packages India had provided to the economy in the wake of the global financial crisis post 2008-09 lead to a higher fiscal deficit, inflation and slowdown in growth. He said the government is going to take more steps on...
  • Finance Ministry pitches for ratings upgrade with Fitch 12-04-2013 04:53 PM

    New Delhi: The Finance Ministry on Friday made a strong case for rating upgrade of Indian economy by global agency Fitch on the back of increasing investments, declining import of gold and government's commitment to fiscal prudence. The issue of rating upgrade was raised by Finance Ministry officials at a...
  • Price stability necessary for long-term growth: RBI 05-04-2013 05:00 AM

    Mumbai: Reserve Bank Governor D Subbarao has said that price stability was necessary for ensuring sustainable growth in the long term as it helps investors and consumers to take informed decisions. "There might be some trade-off in the short term but in the medium to long term, you need price...
  • Moody's gives thumbs up to Budget 2013 04-03-2013 11:35 AM

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  • Markets give a thumbs down to Budget 2013-14 01-03-2013 10:15 AM

    Investors sentiments were spooked because rules were tighten for those based in Mauritius. ...