For FY24,income tax has been estimated to grow by 10.5% while corporation tax to rise by 10.50% during FY24 over the revised estimate for FY23. Rs 510 billion of collection from disinvestment has been kept as target for next fiscal year.
Owing to higher government borrowing in FY21 to mitigate impact of Corona crisis, fiscal deficit for FY21 surged to 9.5% of GDP as per revised estimation. For next fiscal year it has been pegged at 6.8% of GDP.
The government did a fine balancing act in its budget for 2018-19. Despite revision of fiscal deficit targets upwards, the borrowing numbers look benign and this will appease bond markets that have been hit hard by weak sentiments.
The government will present an interim budget for fiscal 2019-20 to the parliament on the 1st of February 2019.
The interim budget 2019-20 saw the government increasing expenditure by around 13% largely driven by spending on providing income to small farmers at Rs 800 billion.
In fiscal 2020-21, total expenditure is budgeted at Rs 30.42 trillion, posting an increase of 12.7% over fiscal 2019-20.In fiscal2020-21, the total expenditure of the Government is estimated to be at 13.52% of GDP while it was 15.8% of GDP in fiscal 2009-10.
In FY20 the Government of India conducted the conversion/switch of its securities through auction operations of Rs 2.249 trillion.
The Budget 2018 Cheat Sheet gives you the numbers that are relevant and helps you focus on the impact of the numbers on the market.
The government has overshot it’s budgeted borrowing for fiscal 2017-18 by RS 200 billion for this fiscal year, taking up gross borrowing to Rs 6000 billion.
The Budget 2017 Cheat Sheet gives you the numbers that are relevant and helps you focus on the impact of the numbers on the market.
The Union Budget 2017-18 presented by the FM Arun Jaitley to the Parliament on the 1st of February saw the government deliver a good expenditure budget, with increase in capital expenditure and keeping down overall expenditure.
The Union Budget 2017-18 presented by the FM to the parliament today on the 1st of February 2017 is a pragmatic budget though the question of how the government will achieve lower fiscal deficit target remains.
The Finance Ministry Arun Jaitley has delivered a budget that met the expectations of the bond market
The Economic Survey 2015-16, which was tabled in the Parliament today, the 26th of February 2016, enumerates the challenges faced by the Indian economy in a period of high global economic turbulence.
The fact that the government fiscal deficit as a percentage of GDP has come down over the last three years does not mean the absolute levels of fiscal deficits is down.
Non Tax Revenue that contributes around 20% of total central government revenues is likely to miss targets in this fiscal year.
Government Salaries and Bank Recapitalization more than compensate savings in subsidies
The Railway Budget impact on government budget is a total of Rs 416.45 billion.
The Government has accepted the Fourteenth Finance Commission recommendation to devolve 42% of Union Government’s net taxes to States, as against 32% being followed at present, which was the recommendation of the Thirteenth Finance Commission.
Fiscal deficit is the difference between total revenues and total expenditure of the government.
India’s revenue growth is weak and that is leading to a self-fulfilling factor of curbing spending on value creation, which in turn is leading to slowing economic growth and that in turn is leading to slowing revenue growth.
The first budget of the Modi government for fiscal 2014-15 was presented by the FM, Arun Jaitley on the 10th of July 2014 was strong on intent to control inflation, fiscal deficit and bring about long term stable economic growth.
The Railway Minister Sadananda Gowda, presenting the first Railway Budget of the Modi government, announced a lower borrowing program for IRFC (Indian Railway Finance Corporation) in this fiscal year.
The first budget of the Modi government is to be presented to the parliament on the 10th of July 2014 and bond markets are pricing in a period of slow growth and inflation coming off down the line.
The fiscal profligacy of the UPA government is starting to hurt when it comes to repayment of borrowings.
The government in its interim budget for 2014-15 has projected a fiscal deficit of 4.1% of GDP.
Would you sell your house to buy a car? A house typically appreciates in value over many years, earns rent income or provides a strong foundation for a family.
The Reserve Bank’s Central Board on 08th August 2013 approved the transfer of surplus profit to the Government of India amounting to Rs 330.10 billion for the year ended June 30, 2013 as against Rs 160.10 billion for the year ended June 30, 2012.
The Union Budget 2013-13 estimates a nominal GDP growth of 12.8%.
The reaction by the markets to the budget was negative.
The Economic Survey is released one day prior to the budget