Tradeindia Exim Newsletter | 03 January 2023
03, January 2023
Fiscal deficit

Fiscal deficit for the April-November period reached Rs 9.78 lakh crore, or 58.9 percent of the Budget target of Rs 16.61 lakh crore for the current fiscal. While presenting the Union Budget last year, the Finance Minister had set a fiscal deficit target of 6.4 percent of GDP, which is already high, according to some experts, who add that the Centre should take some concrete measures in the upcoming Budget to chart out a clear consolidation path.

The latest round of data shows the Revenue deficit standing at Rs 5.73 lakh crore, which is 57.8 percent of the target of Rs 9.91 lakh crore. Total expenditure stood at Rs 24.43 lakh crore while net tax receipts at Rs 12.25 lakh crore. More importantly, with subsidy for food, fuel and fertiliser standing at Rs 3.01 lakh crore, it is quite clear that the Centre had already nearly completed the total target amount of Rs 3.18 lakh crore for the whole fiscal.

It was recently announced that the government will discontinue the free food scheme introduced during the difficult pandemic times, and no doubt it will help reduce the food subsidy bill, but experts point out that much efforts are needed in checking fiscal deficit, which is continuously widening and highest among the G20 nations. The government is fighting against high inflation for quite some time now, but it needs to strain every nerve to check fiscal deficit as well.  

Continue Reading...
Have questions on trade related issues? Ask Here
TOP HEADLINES THIS WEEK
Agri and processed food products exports up by 16% to $17.43 bn for period Apr-Nov
The exports of agricultural and processed food products rose by 16 percent in the eight months (April-November) of the current Financial Year 2022-23 in comparison to the corresponding period of FY 2021-22...
Local manufacturing push to drive 60% Indian employers to hire new talent in Q1 2023
The government's reforms to boost local manufacturing have triggered the creation of new jobs in the sector, and 60 per cent of employers in the manufacturing segment aim to recruit and expand their resource pool in the first quarter of 2023, a report showed on Tuesday. The positive higher hiring sentiment is attributed to large-scale enterprises (69 per cent), followed by medium (44 per cent) and small (39 per cent) businesses...
Apr-Nov fiscal deficit widens to 58.9% of 2022-23 target
India's fiscal deficit stood at Rs 9.78 lakh crore in the April-November period of 2022-23, which is 58.9 per cent of the Union Budget's target of Rs 16.61 lakh crore for the current fiscal, government data showed. As per Controller General of Accounts (CGA) data, the revenue deficit stood at Rs 5.73 lakh crore, or 57.8 per cent, of the current fiscal's target of...
Output of 8 core industries rises 5.4% in Nov
The output of eight core industries rose by 5.4 per cent in November 2022 against 3.2 per cent in November 2021 as production of commodities like steel, cement, coal and ferlilisers as well as electricity increased compared to the corresponding period of last year...
Read More
TRADE FAIR & EXHIBITIONS 2020
Click here for more Trade Shows.
Upcoming Trade Shows in | January | February | March
CLIENT TESTIMONIALS
Thanks to tradeindia we have connected to many new buyers and platform has really helped us to grow our over seas business. The after sales support is very good and our manager has guided us very well and always help...
Ms Telli Kayalar
CENCE MEDIKAL VE TICARET LIMITED SIRKETI
You have received this mail because you have subscribed for trade india's Exim Newsletter. To unsubscribe Click Here