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.
Expressing concern over increasing fiscal deficit in the country, BJP president Rajnath Singh on Tuesday said after the implementation of Food Security Act the Current Account Deficit (CAD) may touch "alarming dimensions".
The fiscal deficit rose by 73
per cent to Rs 3.06 lakh crore in the first eight months of
the fiscal against Rs 1.77 lakh crore a year ago, as the
Government cut taxes and stepped up expenditure to stimulate
China`s fiscal budget deficit will shrink next year as government spending declines with a paring back of stimulus efforts, while bank lending is also set to fall, influential former lawmaker Cheng Siwei said on Saturday.
Buoyed by the robust performance
of economy during the second half of the 2009-10, Finance
Minister Pranab Mukherjee on Monday said fiscal deficit would not
exceed the target of 6.8% of the Gross Domestic
Finance Minister Pranab Mukherjee has
said that India will not be able to sustain high fiscal
deficit in the long run, but he did not give any timeframe for
withdrawing the stimulus measures that inflated the deficit.
Pranab Mukherjee has asked the financial advisors of different ministries to focus on the govt`s priority sector schemes and ensure that public expenditure remains within the budgetary limits in order to contain fiscal deficit.
At a time when fiscal deficit is
burgeoning at 6.8 per cent of GDP, an occasional paper from
the RBI says narrowing the deficit is relevant for
stabilisation as money supply expansion leads to inflation.
The finances of the government showed improvement during the first quarter of 2009-10, with the fiscal deficit working out to be 31 per cent of the estimates as compared to 65 per cent in the corresponding period last fiscal.