Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

The overall size of the budget has remained almost unchanged from the interim one presented in February, indicating the government's strong commitment to move along the <keyword id="20099794" type="General" weightage="20" keywordseo="fiscal-prudence" source="keywords">fiscal prudence</keyword> path, said experts on Tuesday. According to the <keyword id="19908389" type="General" weightage="100" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024-25 presented by Finance Minister Nirmala Sitharaman, the total expenditure in Budget Estimates (BE) 2024-25 is estimated at Rs 48,20,512 crore of which total <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> is Rs 11,11,111 crore. The total expenditure in the Interim Budget presented in February was estimated at Rs 47,65,768 crore of which total capital expenditure was Rs 11.11 lakh crore. Debadatta Chand, Managing Director &amp; CEO, <keyword id="19920717" type="General" weightage="20" keywordseo="Bank-of-Baroda" source="keywords" meta.keywordsubtype="org" meta.entityname="Bank of Baroda" meta.hostid="261" meta.entityid="Bank of Baroda">Bank of Baroda</keyword>, said the Union Budget complements the main takeaways from the Economic Survey and focusses clearly on medium term development of the economy. "The overall size of the budget has remained almost unchanged from the interim one. The budget has shown strong intent on moving along the fiscal prudence path and targeted the <keyword id="19942084" type="General" weightage="20" keywordseo="fiscal-deficit" source="keywords">fiscal deficit</keyword> at 4.9 per cent for the year," he said. The said action will keep the growth steady as well as robust not only for economy but also banking. Aditi Nayar, Chief Economist, ICRA Limited, said the budget has kept the capital expenditure unchanged and pared the fiscal deficit to 4.9 per cent of GDP. "The anticipated reiteration of the reduction in the fiscal deficit to below 4.5 per cent of GDP in FY2026 is welcome. Interestingly, the new medium term fiscal consolidation path has been linked to a reduction in the debt/GDP ratio instead of continued compression of the fiscal deficit/GDP ratio," she said. Buoyed by improvement in revenue collection, the government has lowered fiscal deficit target to 4.9 per cent for the current <keyword id="19910979" type="General" weightage="20" keywordseo="financial-year" source="keywords">financial year</keyword> as against 5.1 per cent estimated in February's interim budget. Ranen Banerjee, Partner and Leader Economic Advisory, PwC India, said that fiscal prudence is the highlight of the full Union Budget 2024-25. The government has gone with realistic projections on its revenue and expenditure estimates and refrained from announcing overly populist measures. "The majority of the allocations, including the capex allocation, are as outlined in the interim budget, thus providing continuity. The capex being kept at INR 11.11 trillion was expected, given that the ability to consume this allocation is limited due to disruption from the elections in the first quarter and the second quarter being typically slowed down by the monsoons," Banerjee said. Institute of Chartered Accountants of India (ICAI) President Ranjeet Kumar Agarwal said the government has announced five schemes to facilitate employment and skilling for 4.1 crore youth over the next five years with a central outlay of Rs 2 lakh crore. "This is a welcome step that will create a skilled workforce to address the existing deficit and generate <keyword id="19972727" type="General" weightage="20" keywordseo="employment-opportunities" source="keywords">employment opportunities</keyword>. Additionally, financial support for loans up to Rs 10 lakh for higher education will help students pursue higher education and acquire skills," he added. Indian Institute of Insolvency Professionals of ICAI (IIIPI) Chairman Ashok Haldia said the budget proposals for an integrated technology platform and sprucing up NCLT infrastructure will provide a fillip to the Insolvency and Bankruptcy Code (IBC) regime. IIIPI is promoted by ICAI. Meanwhile, Kumarmangalam Vijay, Partner, JSA Advocates and Solicitors, opined that in its new avatar, it seems that the Modi government is keen to deliver on its promise of 'ease of doing business'. "Its focus on making it simpler is evident from the abolition of the angel tax, the increase in new income tax regime thresholds, new Vivad se Vishwas Scheme 2024 for the resolution of pending cases and the increase in the threshold for appeal by tax departments at various levels, decriminalising the non-reporting of shares received from non-resident employers and reducing the period for re-opening of the cases," Vijay said. The Institute of Company Secretaries of India (ICSI) said there has been a focus on the manufacturing sector in the budget. Measures have been taken for simplifying the FDI/ODI rules and regulations, and the <keyword id="21847964" type="General" weightage="20" keywordseo="tax-regimes" source="keywords">tax regimes</keyword>. The enhanced Mudra loan limit and the abolition of angel tax are all set to incentivize the startup and MSME ecosystem of the country. "The nine priorities identified in this progressive and inclusive budget 2024 are aimed at generating ample opportunities for all. Besides agricultural reforms, the budget focuses on skilling, educating and employing the youth, a priority that the ICSI has been concentrating on," said ICSI President B Narasimhan. Rajesh Magow, Co-Founder and Group CEO, MakeMyTrip, said the government's continued emphasis on infrastructure development is commendable. Enhanced road infrastructure will bolster the travel and tourism sector. "We also welcome the initiatives to develop iconic spiritual and cultural sites into world-class tourist hotspots," Magow said. Furthermore, he said the provision of credit for TCS against income tax under 'Income from Salaries' is logical and will provide much-desired relief to taxpayers who travel internationally.

Budget size almost unchanged from interim, shows govt's commitment to fiscal prudence: Experts

The first full budget of the BJP-led NDA government in its third successive term will be presented by <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> on July 23. The government on Saturday announced the dates of the budget session of Parliament which will start on July 22 and conclude on August 12. Finance Minister Nirmala Sitharaman, who will present the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024-25, has been holding pre-budget consultations. As part of the deliberations, she has met economists, experts in finance and capital markets, industry representatives and agriculture experts. Industry bodies, including the Confederation of Indian Industry (CII), have urged the government to increase capital expenditure in the upcoming budget. This will be Sitharaman's seventh budget in a row. She will be the first Union Finance Minister to present seven consecutive union budgets. Former Prime Minister Morarji Desai had presented six budgets in a row. Parliamentary Affairs Minister Kiran Rijuju announced the dates of budget session. "Hon'ble President of India, on the recommendation of the Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July 2024 to 12 August 2024 (Subject to exigencies of Parliamentary Business). Union Budget, 2024-25 will be presented in Lok Sabha on 23 July 2024," he posted on X. The <keyword id="19916814" type="General" weightage="20" keywordseo="Modi-government" source="keywords" meta.keywordsubtype="org" meta.entityname="Modi government" meta.hostid="153" meta.entityid="Modi government">Modi government</keyword> had presented an interim budget in February this year. Sitharaman had announced in the interim budget that the capital expenditure outlay for the next year is being increased by 11.1 per cent to Rs 11,11,111 crore, which would be 3.4 per cent of the GDP. The government had also announced that Rs one lakh crore corpus will be established with five-year interest free loan for youth. Newly-elected Lok Sabha members took oath in the first session of 18th Lok Sabha held from June 24 to July 2 following the results of the general elections. President Droupadi Murmu addressed the joint sitting of two Houses on June 27 and both Lok Sabha and Rajya Sabha adopted a motion of thanks on the President's address. Prime Minister Narendra Modi replied to the debate on the motion of thanks in the two Houses of Parliament. BJP-led National Democratic Alliance returned to power for the third successive term in the general elections.

FM Nirmala Sitharaman to present first budget of Modi 3.0 on July 23

Strong growth and a narrower <keyword id="19942084" type="General" weightage="20" keywordseo="fiscal-deficit" source="keywords">fiscal deficit</keyword> can lead to a <keyword id="20424939" type="General" weightage="20" keywordseo="sovereign-rating" source="keywords">sovereign rating</keyword> upgrade for <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>, a German brokerage said on Monday. The government's commitments on fiscal deficit to 5.1 per cent in FY25 and further down to 4.5 per cent in FY26 "look more credible now", analysts at <keyword id="19960549" type="General" weightage="20" keywordseo="Deutsche-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="Deutsche Bank" meta.hostid="261" meta.entityid="Deutsche Bank">Deutsche Bank</keyword> said, pointing out that the number came in at 5.6 per cent in FY24 as against the budgeted 5.8 per cent. Courtesy the higher than expected dividend announcement by the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) at Rs 2.1 lakh crore, the fiscal deficit for FY25 can come down to 5 per cent as against the budgeted 5.1 per cent. On growth, the note said it expects real GDP expansion to come at 6.9 per cent in FY25 and go down further to 6.5 per cent in FY26. "Strong growth, lower fiscal deficit opens up room for ratings upgrade," the note said. "A faster-than-anticipated pace of fiscal consolidation could pave the way for a sooner-rather-than-later sovereign rating upgrade for India," the analysts said. It can be noted that global rating agency <keyword id="20043943" type="General" weightage="20" keywordseo="SP" source="keywords" meta.keywordsubtype="org" meta.entityname="S&amp;P" meta.hostid="261" meta.entityid="S&amp;P">S&amp;P</keyword> had last week revised up the outlook on its sovereign rating for India to "positive" from "stable" earlier. On Friday, official data suggested that the economy grew at a faster clip of 8.2 per cent in the March quarter, which takes the FY24 real <keyword id="19972825" type="General" weightage="100" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> to 7.6 per cent. The note said the Indian economy has exhibited "remarkable resilience" despite higher rates for longer, the Russia-Ukraine war and Covid prior to that, though a strong pickup in real GDP growth during FY24 can be also attributed materially to a very low <keyword id="21922336" type="General" weightage="20" keywordseo="GDP-deflator" source="keywords">GDP deflator</keyword>. It explained that nominal GDP growth slowed to 9.6 per cent in FY24, from 14.2 per cent in FY23 and 19 per cent in FY22. But in real terms, GDP growth accelerated to 8.2 per cent in FY24 from 7 per cent in FY23, thanks to a collapse in the GDP deflator to 1.4 per cent in FY24 from 7.6 per cent year-on-year in FY23 and 9.4 per cent in FY22. Deutsche Bank also advised caution on reading the headline GDP numbers, pointing out that while the real GDP grew 8.2 per cent, real GVA (gross value added) growth was 1 percentage point lower at 7.2 per cent.

Strong growth, lower fiscal deficit may lead to India rating upgrade: Deutsche Bank

New Delhi, The Centre's <keyword id="6365485" type="General" weightage="20" keywordseo="fiscal-deficit" source="Orion">fiscal deficit</keyword> in the first five months of 2023-24 touched 36 per cent of the full-year target, government data showed on Friday. In absolute terms, the fiscal deficit -- the gap between expenditure and revenue -- was Rs 6.42 lakh crore as of August-end, according to the data released by the Controller General of Accounts (CGA). The deficit stood at 32.6 per cent of the <keyword id="578082" type="General" weightage="20" keywordseo="budget-estimates" source="Orion">Budget Estimates</keyword> (BE) in the corresponding period of the financial year 2022-23. In the Union Budget, the government projected to bring down the fiscal deficit to 5.9 per cent of the gross domestic product (GDP) in the current 2023-24 financial year. The fiscal deficit was 6.4 per cent of the GDP in 2022-23 against the earlier estimate of 6.71 per cent. Unveiling the revenue-expenditure data of the central government for the April-August period of 2023-24, CGA said the net tax revenue was Rs 8.03 lakh crore, or 34.5 per cent, of the BE for the current fiscal. The net tax revenue collection was 36.2 per cent at August-end 2022. The central government's total expenditure in the first five months stood at Rs 16.71 lakh crore, or 37.1 per cent, of the BE. The expenditure was 35.2 per cent of the BE a year ago. Of the total expenditure, Rs 12.97 lakh crore was on the revenue account and Rs 3.73 lakh crore towards the capital account. Fiscal deficit is the difference between the total expenditure and revenue of the government. It is an indication of the total borrowings that are needed by the government.

Centre's fiscal deficit at Aug-end touches 36% of full-year target: CGA

New Delhi, <keyword id="19955404" type="General" weightage="20" keywordseo="finance" source="keywords">Finance</keyword> Secretary <keyword id="20317960" type="General" weightage="20" keywordseo="t-v-somanathan" source="keywords">T V Somanathan</keyword> has said the government's resolve to bring down the fiscal deficit by 70 basis points to 5.1 per cent in 2024-25 is ambitious but achievable in view of the tax buoyancy and expenditure management. Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> in the interim Budget presented on Thursday refrained from announcing any populist measures but significantly trimmed the fiscal deficit to 5.1 per cent of the Gross Domestic Product (GDP) next fiscal and 4.5 per cent in FY26. "So it is ambitious but it is also realistic. There are three pillars on which this is based. One is we have assumed growth in tax revenue about 11.5 per cent. I think that's a very realistic assumption," Somanathan told PTI Videos in an interview. Besides, he said, the government has projected a slight increase in non-tax revenue from a high base during the current financial year. On the expenditure side, he said, "<keyword id="19951996" type="General" weightage="20" keywordseo="capex" source="keywords">Capex</keyword> has increased 11.1 per cent... the revenue expenditure we believe is realistically projected. We have been helped by the fact that some of our subsidies have not grown and whether it is food or fertiliser. Both of them are either stagnant or slightly declined. <keyword id="20090941" type="General" weightage="20" keywordseo="fertilizer" source="keywords">Fertilizer</keyword> is assisted by decline in commodity prices globally." The government has projected the fertiliser subsidy of Rs 1.64 lakh crore for the next financial year as against Rs 1.88 lakh crore allocated for the current fiscal. Similarly, food subsidy outgo will come down to Rs 2.05 lakh crore compared to Rs 2.12 lakh crore for the current fiscal. "On the basis of three parts, reasonable revenue growth and reasonable increase in non-tax revenue that is tight control over avoidable expenditure and an optimal balanced increase in capital expenditure we are quite confident that we will achieve this (fiscal deficit target of 5.1 per cent of GDP)," he said. In absolute terms, the fiscal deficit would be Rs 16,85,494 crore against Rs 17,34,773 crore for the current fiscal. For the Budget calculation purposes, the government projected nominal GDP growth of 10.5 per cent for the next financial year against the 11 per cent estimated for the current fiscal. The nominal GDP for BE 2024-25 has been projected at Rs 3,27,71,808 crore, assuming 10.5 per cent growth over the estimated nominal GDP of Rs 2,96,57,745 crore, as per the First Advance Estimates of FY24. To meet the fiscal deficit, the gap between revenue receipt and expenditure, the government raises funds by issuing bonds in the market. The gross and net market borrowings through dated securities during 2024-25 are estimated at Rs 14.13 lakh and Rs 11.75 lakh crore, respectively. Dismissing criticism on capital expenditure (capex), Somanathan said, "There is an increase of 11.1 per cent over a very high base. So this is an increase of more than Rs 1 lakh crore... Earlier, we had a small base but now we have a large base so it can only be a small increment." Capital expenditure of Rs 11.11 lakh crore cannot be done by signing a cheque, he said, adding that it requires action on the ground because there are issues of permission, land acquisition, and construction. "So it is a very realistic and balanced provision, which is what the economy needs right now," he said.

Fiscal deficit target of 5.1% ambitious but achievable: Finance Secretary

New Delhi, The government's fiscal deficit at Rs 11 lakh crore at January end touched 63.6 per cent of the revised annual target, according to the official data released on Thursday. In the corresponding period last year, the fiscal deficit or gap between the expenditure and revenue was 67.8 per cent of Revised Estimates (RE) of the Union Budget 2022-23. For 2023-24, the government's fiscal deficit is estimated at Rs 17.35 lakh crore or 5.8 per cent of the GDP. The government's total receipts stood at Rs 22.52 lakh crore (81.7 per cent of corresponding RE 2023-24 of total receipts) as of January 2024, according to the data released by <keyword id="20408086" type="General" weightage="20" keywordseo="controller-general-of-accounts" source="keywords">Controller General of Accounts</keyword> (<keyword id="20408087" type="General" weightage="20" keywordseo="cga" source="keywords">CGA</keyword>). This comprised Rs 18.8 lakh crore tax revenue (net), Rs 3.38 lakh crore of non-tax revenue and Rs 34,219 crore of non-debt capital receipts. Non-debt capital receipts consist of the recovery of loans and miscellaneous capital receipts. The total expenditure incurred by the Centre was Rs 33.54 lakh crore (74.7 per cent of corresponding RE 2023-24), out of which Rs 26.33 lakh crore is on revenue account and Rs 7.2 lakh crore on capital account. As per the CGA data, Rs 8,20,250 crore has been transferred to state governments as devolution of share of taxes by the central government up to this period, which is Rs 1,52,480 crore higher than the previous year. Out of the total revenue expenditure, Rs 8,21,731 crore was on account of interest payments and Rs 3,15,559 crore on major subsidies. Commenting on the data, <keyword id="20028743" type="General" weightage="20" keywordseo="aditi-nayar" source="keywords">Aditi Nayar</keyword>, Chief Economist, <keyword id="19908266" type="General" weightage="20" keywordseo="icra" source="keywords">ICRA</keyword>, said: "While there may be some slippage in the disinvestment target and capex may trail the FY2024 RE, ICRA does not expect the revised fiscal deficit target of Rs 17.3 lakh crore for FY2024 to be breached." The Prime Minister Narendra Modi-led government in the interim Budget refrained from announcing populist measures, which is expected to help it trim the fiscal deficit to 5.1 per cent of the GDP next fiscal and 4.5 per cent in FY26. The nominal GDP growth for the next financial year has been pegged at 10.5 per cent against the 11 per cent estimated earlier. The nominal GDP as per budget estimate 2024-25 has been projected at Rs 3,27,71,808 crore, assuming 10.5 per cent growth over the estimated nominal GDP of Rs 2,96,57,745 crore, as per the First Advance Estimates of FY2023-24. Helped by an improvement in tax buoyancy, the government managed to achieve a fiscal deficit of 5.8 per cent against the budget estimate of 5.9 per cent for the current financial year.

Fiscal deficit at Jan-end touches 63.6% of full year target: Govt data

<keyword id="19955404" type="General" weightage="20" keywordseo="finance" source="keywords">Finance</keyword> Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> decided to stick to the path of fiscal consolidation path as she pushed for economic growth and inclusive development in the <keyword id="19906106" type="General" weightage="20" keywordseo="interim-budget" source="keywords">interim Budget</keyword> 2024-25 presented in <keyword id="19895397" type="General" weightage="20" keywordseo="parliament" source="keywords">Parliament</keyword> on Thursday. The Finance Minister has reduced the fiscal deficit target to 5.1 per cent of GDP for 2024-25 while increasing the government's capital expenditure on big infrastructure projects to push the economic growth rate. This has been made possible due to the robust increase in tax collections in a fast-growing economy. The allocation for big infrastructure projects to be taken up in 2024-25 has been raised to Rs 11.1 lakh crore which is an 11.1 per cent increase over the previous year. The gross market borrowing of the government has been fixed at Rs 14.13 lakh crore while the net market borrowing is proposed at RS 1.75 lakh crore which is lower than the corresponding figure for 2023-24. "Lower market borrowings by the government will leave more funds for private sector corporates to get loans for investment which will accelerate the country's economic growth further," the Finance Minister said in her Interim Budget speech. The Interim Budget has also created a corpus of Rs 1 lakh crore for a 50-year interest-free loan for the farm sector. The Finance Minister said that she was making any changes in the direct or indirect tax rates in the interim budget. <keyword id="19916494" type="General" weightage="20" keywordseo="sitharaman" source="keywords">Sitharaman</keyword> said that the Indian economy has witnessed a transformational change and fruits have development have started reaching people at a mass scale. "The Modi government's polcy of inclusive development and growth is a deliberate departure from the past governments. Housing water electricity, bank accounts cooking gas have been provided for all. Worries of food have been eliminated with free food for 83 crore people and real incomes have increased," she said. She said the government was committed to social justice with all-round development that would improve the capability of the people and empower them. "Social justice is a necessary model and the government's saturation approach reflects secularism in action that prevents corruption and nepotism. Opportunity for all. Systemic inequality is being addressed for social transformation," she said. Top priority is being given to empower four segments that include the poor, women, youth and farmers for the support of the government, she added. SEE ALSO:<a href="https://www.businessinsider.in/finance/news/interim-budget-2024-speech-updates-and-highlights/articleshow/107313296.cms" target="_blank"></a> <a href="https://www.businessinsider.in/finance/news/interim-budget-2024-speech-updates-and-highlights/articleshow/107313296.cms" target="_blank">Interim Budget 2024: FY25 capex hiked 11%; no tax relief, says FM Sitharaman</a><a href="https://www.businessinsider.in/stock-market/news/interim-budget-sensex-nifty-open-in-the-green-as-investors-await-blueprint-of-intent/articleshow/107311960.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/interim-budget-sensex-nifty-open-in-the-green-as-investors-await-blueprint-of-intent/articleshow/107311960.cms" target="_blank">Interim Budget: Sensex, Nifty trade flat as FM’s speech concludes</a><a href="https://www.businessinsider.in/stock-market/markets/news/interim-budget-2024-reactions-by-market-experts-and-economists/articleshow/107318778.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/markets/news/interim-budget-2024-reactions-by-market-experts-and-economists/articleshow/107318778.cms" target="_blank">From research funding to positive fiscal deficit surprise – market watchers, economists praise Interim Budget 2024</a>

Interim Budget hikes outlay on big infra projects to Rs 11.1 lakh crore, cuts fiscal deficit to 5.1% of GDP

<keyword id="6358777" type="General" weightage="20" keywordseo="new-delhi" source="Orion">New Delhi</keyword>, The central government's fiscal deficit at the end of May stood at 11.8 per cent of the full-year budget estimates for 2023-24, according to official data. The fiscal deficit was 12.3 per cent of the 2022-23 BE in the same period of the last year. Fiscal deficit is the difference between total expenditure and revenue of the government. It is an indication of the total borrowings that are needed by the government. In actual terms, the deficit was Rs 2,10,287 crore at end-May 2023, as per the data of the <keyword id="513373" type="General" weightage="50" keywordseo="controller-general-of-accounts" source="Orion">Controller General of Accounts</keyword> (<keyword id="237356" type="General" weightage="100" keywordseo="cga" source="Orion">CGA</keyword>). In the <keyword id="6360189" type="General" weightage="80" keywordseo="union-budget" source="Orion">Union Budget</keyword>, the government aimed to bring down the fiscal deficit during the current financial year 2023-24 to 5.9 per cent of the gross domestic product (GDP). The deficit was 6.4 per cent of the GDP in 2022-23 against the earlier estimate of 6.71 per cent. Unveiling the revenue-expenditure data of the Union government for the first two months of the 2023-24, CGA said the net tax revenue was Rs 2.78 lakh crore or 11.9 per cent of the BE. Its total expenditure was Rs 6.25 lakh crore or 13.9 per cent of the estimates presented in the Union Budget for the current fiscal. As per the Budget, the fiscal deficit in end-March 2024 is estimated at Rs 17.86 lakh crore.

Centre's fiscal deficit at 11.8 pc of full year target: CGA data

The fiscal deficit for 2022-23 worked out to be 6.4 per cent of the gross domestic product (GDP), as it was projected by the <keyword id="25455" type="General" weightage="80" keywordseo="finance" source="Orion">finance</keyword> ministry in the revised budget estimates, according to government data released on Wednesday. Unveiling the revenue-expenditure data of the Union government for 2022-23, the Controller General of Accounts (<keyword id="237356" type="General" weightage="100" keywordseo="cga" source="Orion">CGA</keyword>) said that the fiscal deficit in absolute term was Rs 17,33,131 crore (provisional). The government borrows from the market to finance its fiscal deficit. CGA further said the revenue deficit worked out to be 3.9 per cent of GDP, while the effective revenue deficit was 2.8 per cent of GDP. In the <keyword id="6360189" type="General" weightage="50" keywordseo="union-budget" source="Orion">Union Budget</keyword> presented by Finance Minister <keyword id="129243" type="General" weightage="80" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> in the <keyword id="6355187" type="General" weightage="80" keywordseo="lok-sabha" source="Orion">Lok Sabha</keyword> on February 1, the fiscal deficit target for 2023-24 was pegged at 5.9 per cent of the GDP. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/delhi-metro-launches-whatsapp-based-ticketing-service-on-airport-line/articleshow/100646250.cms">Delhi Metro launches WhatsApp-based ticketing service on Airport Line</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/vedanta-resources-pays-400-million-debt-borrowings-down-to-6-4-billion/articleshow/100649176.cms">Vedanta Resources pays $400 million debt, borrowings down to $6.4 billion</a>

Centre's fiscal deficit for 2022-23 at 6.4% of GDP: CGA data

Finance Minister Nirmala Sitharaman will be presenting her fifth Budget that may do a tightrope walk between staying fiscally prudent and meeting general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy. Sitharaman had in her first Budget in 2019 replaced leather briefcase -- which had been in used for decades for carrying Budget documents -- with a traditional 'bahi-khata' wrapped in red cloth. Budget 2023-24 would be in paperless form, as done in the last two years, and would be available on the 'Union Budget Mobile App' for hassle-free access by Members of Parliament (MPs) and the general public. Here are the key numbers to watch for in Budget 2023-24, which is widely expected to boost spending towards policies that create jobs, leave more money in hands of the common man and boost manufacturing, while increasing tax revenues. * <keyword id="6365485" type="General" weightage="20" keywordseo="Fiscal-Deficit" source="Orion">Fiscal Deficit</keyword>: The budgeted fiscal deficit, which is the difference between the government expenditure and income, for the current fiscal ending March 2023 is 6.4 per cent, against 6.71 per cent in the last fiscal. The number for 2023-24 would be in focus as it is widely expected that the government would open its purse strings in an election year. * Disinvestment/Privatisation: In current fiscal year the budgeted disinvestment target is likely to be missed, like the past four years. It is expected the government would set a realistic target for next fiscal. * <keyword id="112324" type="General" weightage="20" keywordseo="Capital-Expenditure" source="Orion">Capital Expenditure</keyword>: The government's planned capital expenditure for this fiscal year is budgeted at Rs 7.5 lakh crore, higher than Rs 5.5 lakh crore in the last fiscal. The government has been pushing infrastructure creation and also incentivising states to step up capex. * Tax Revenue: The Budget had pegged direct and indirect tax mop-up at Rs 14.20 lakh crore and Rs 13.30 lakh crore for current fiscal, taking the total figure to Rs 27.50 lakh crore. The government's tax revenues are expected to overshoot the budget estimates by about Rs 4 lakh crore on buoyant income tax and customs duty. * <keyword id="6370254" type="General" weightage="20" keywordseo="Borrowing" source="Orion">Borrowing</keyword>: The government's gross borrowing budget was at Rs 14.31 lakh crore in current financial year ending March 31. The government borrows from the market to fund its fiscal deficit and with tax revenues seeing an uptick, the government has cut its gross borrowings by Rs 10,000 crore to Rs 14.21 lakh crore. The borrowing number would be watched by the market, especially on the back of expected higher capital expenditures to boost growth. * <keyword id="3236955" type="General" weightage="20" keywordseo="Nominal-GDP" source="Orion">Nominal GDP</keyword>: India's nominal GDP growth (real GDP plus inflation) in the current fiscal is estimated to be 15.4 per cent. The numbers for next fiscal would be lower as the inflation has come down. The Budget is expected to give an outline on the nominal GDP growth numbers. Real GDP growth in current fiscal is projected at 7 per cent and come down to 6-6.5 per cent in the next. * Spotlight would also be on spending on key schemes, like NREGA, as well as key sectors like health and education.

You Searched For "fiscal deficit" and got 10 results

Budget size almost unchanged from interim, shows govt's commitment to fiscal prudence: Experts

PTI

FM Nirmala Sitharaman to present first budget of Modi 3.0 on July 23

ANI

Strong growth, lower fiscal deficit may lead to India rating upgrade: Deutsche Bank

PTI

Centre's fiscal deficit at Aug-end touches 36% of full-year target: CGA

PTI

Fiscal deficit target of 5.1% ambitious but achievable: Finance Secretary

PTI

Fiscal deficit at Jan-end touches 63.6% of full year target: Govt data

PTI

Interim Budget hikes outlay on big infra projects to Rs 11.1 lakh crore, cuts fiscal deficit to 5.1% of GDP

IANS

Centre's fiscal deficit at 11.8 pc of full year target: CGA data

PTI

Centre's fiscal deficit for 2022-23 at 6.4% of GDP: CGA data

PTI

Budget for world's fastest growing economy: Key numbers to be watched

PTI

Popular Keywords

Buying Guides