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Economic prospects look bright in near term: FinMin

Indian economy is showing "bright" near-term prospects, but reducing fiscal deficit to 3.5 percent of GDP in 2016-17 is a challenge because of additional liabilities on account of pay revision, the government said.

Fiscal deficit zooms to 61% of BE in April-June quarter

Fiscal deficit zooms to 61% of BE in April-June quarter

The state of public finances showed some deterioration with the fiscal deficit crossing 61 percent of the Budget Estimates in the first quarter of 2016-17, on higher expenditure and subdued realisation of non-tax revenues.

Good monsoon may push FY17 GDP growth beyond 8%: Crisil

Good monsoon may push FY17 GDP growth beyond 8%: Crisil

A good monsoon with even rainfall distribution across regions will give a boost to farm sector and may push India's GDP growth beyond the 8 per cent mark in the current fiscal, Crisil said on Wednesday.

April-May fiscal deficit at 43% of Budget estimates

April-May fiscal deficit at 43% of Budget estimates

Fiscal deficit in the first two months of the current fiscal was Rs 2.28 lakh crore or 42.9 percent of Budget estimates for 2016-17, much higher than the year-ago period.

CEA hopeful of states containing fiscal deficit at 3% of GSDP

CEA hopeful of states containing fiscal deficit at 3% of GSDP

New Delhi: Chief Economic Adviser Arvind Subramanian today expressed hope that states will show "prudence" and contain their fiscal deficit at 3 percent of the GSDP.

Saudi reforms on right track but more needed: IMF

Saudi reforms on right track but more needed: IMF

Riyadh: The International Monetary Fund on Thursday welcomed accelerated economic reforms by Saudi Arabia to reduce its reliance on oil but said more measures are needed to cover a fiscal deficit.

17 out of 30 sectors in negative zone in March in terms of exports

17 out of 30 sectors in negative zone in March in terms of exports

Exports of over half of the 30 sectors closely monitored by the Commerce Ministry were in the negative zone in March due to a fall in global commodity prices amid tepid demand.

Stick to fiscal discipline, spend on infrastructure: Arun Jaitley to states

Stick to fiscal discipline, spend on infrastructure: Arun Jaitley to states

With the share of states in central taxes seeing a quantum jump, Finance Minister Arun Jaitley today advised them to stick to fiscal discipline, spend on infrastructure and development activities and to use Aadhaar for transferring benefits to people

Cabinet clears FC recommendations on state govt deficits

The government on Wednesday approved fiscal deficit target of 3 percent for states, as recommended by the 14th Finance Commission for the 2015-20 period.

Fiscal deficit expected to be below 3.9% for FY16: Finance Ministry

Fiscal deficit expected to be below 3.9% for FY16: Finance Ministry

Finance Ministry today said the fiscal deficit for 2015-16 is likely to remain below 3.9 percent of the GDP on the back of tax receipts and realisation from disinvestment.

State governments likely to run wider fiscal deficit in FY17: HSBC

State governments likely to run wider fiscal deficit in FY17: HSBC

State governments are likely to run wider fiscal deficit in financial year 2016-17 because of higher interest bill and wage hike pressures, an HSBC report said on Monday.

Range-bound fiscal targets can confuse markets, says Nomura

Range-bound fiscal targets can confuse markets, says Nomura

Adoption of a fiscal deficit target range before achieving the 3 percent goal will be considered as a "shallower path" in the fiscal consolidation process, Japanese brokerage Nomura said Wednesday.

Exchange rate not impacting exports: Rajan

Exchange rate not impacting exports: Rajan

Brushing aside the contention that exchange rate is impacting exports, RBI Governor Raghuram Rajan today said the shipments can only be increased by raising productivity, improving infrastructure and simplifying regulations, which is in the domain of the government

Chidambaram pokes holes in Centre's fiscal deficit road map

Chidambaram pokes holes in Centre's fiscal deficit road map

Former Union Finance Minister P Chidambaram today said the NDA government's claims to bring fiscal deficit to 3.5 per cent was built on factors like avoidance of direct borrowing and instead asking Ministries like Railways to go for it. 

RBI pores over budget, worries on fiscal math

Some Reserve Bank of India (RBI) officials are worried that a populist budget could put the onus of driving growth on them but limit their ability to respond through big rate cuts this year.

Central pay hike budgeted for in ministries' allocations: Govt

With absence of an explicit overall provision for the 7th Pay Commission in Budget raising questions, government today said the once-in-a-decade pay hike has been built in as interim allocation for different ministries and Budget numbers were credible. 

Fiscal discipline is of prime importance: Jaitley

Fiscal discipline is of prime importance: Jaitley

In a post-Budget 2016-17 meeting with India Inc on Wednesday, Finance Minister Arun Jaitley reiterated the need for fiscal discipline and said he was optimistic of the reform process moving ahead in parliament.

Budget 2016: Arun Jaitley sticks to fiscal roadmap, FY17 deficit at 3.5%

Budget 2016: Arun Jaitley sticks to fiscal roadmap, FY17 deficit at 3.5%

Amid debate over balancing growth and financial management, Finance Minister Arun Jaitley Monday adhered to the fiscal consolidation roadmap by proposing to keep the deficit at 3.5 percent of GDP in 2016-17.

Govt to take balanced view on fiscal deficit target: CEA

Government is open to the idea of going in for higher fiscal deficit to propel growth in the upcoming Budget and will take a balanced view after considering various factors, Chief Economic Adviser Arvind Subramanian said.

'Budget likely to meet numbers for first time in 5 years'

'Budget likely to meet numbers for first time in 5 years'

For the first time in five years, revised revenue and expenditure estimates for 2015-16 are expected to be higher than the budget ones, says Infosys' former top executive T V Mohandas Pai.