Breaking News

You are here » Indian-Commodity  :  Economy  :  Govt monitoring economic conditions to keep fiscal deficit within budgeted target

01-Jan2019

Govt monitoring economic conditions to keep fiscal deficit within budgeted target

Expressing optimism over fiscal position of India, the Finance Ministry has said in order to ensure that the fiscal deficit remains within the target of 3.3% of the Gross Domestic Product (GDP) for 2018-19, the government is closely monitoring the macroeconomic conditions.

The Ministry has directed ministries and departments to meet their additional requirements of funds from savings and keep their expenditure within the amount earmarked in the Budget for 2018-19. It further said the efforts were being made to achieve the target for non-debt receipts as well as tax receipts.

Referring to the deviations, it said non-debt receipts have marginally deviated from their mid-year benchmark of 40% of Budget Estimates (BE). Total expenditure in first half 2018-19 (H1FY19) is 53.4% of BE which is 0.1% lower than corresponding period and 2.7% higher than five years' moving average. Net tax revenue in H1FY19 is 39.4% of BE but in comparison to past trend, it is 4.8% below corresponding period and 0.4% above five years' moving average.


Related News

View all news

Working group recommends measures to attain $5 trillion economy by 2025

In order to increase the size of India's economy to $5 trillion by 2025, a working group of the Commerce and Industry Ministry has come out with a blueprint suggesting a bunch of lengthy and short-term......

RBI to inject Rs 10,000 crore into the system through OMOs

In a bid to increase liquidity in the market, the Reserve Bank of India (RBI) has said that it will inject Rs 10,000 crore into the system through purchase of government securities on January 17, 2019.......

Retail inflation softens to 18-month low of 2.19% in December

India's retail inflation based on Consumer Price Index (CPI) continued its easing trend for third straight month in December mainly on account of sliding prices of fruits, vegetables and fuel. CPI softened......

Top News

View all news

Medico Intercontinental gets nod for diversification into pharma industry

Medico Intercontinental has received an approval for diversification into Pharmaceutical Industry and change in main object clause of the memorandum of association (MOA) of the company. The Board of Directors......

Jet Airways defers deliveries of six Boeing 737 max aircraft

Jet Airways has deferred deliveries of six Boeing 737 max aircraft due to the payment arrears to its lessors. Jet Airways is India's premier international airline, which operates flights to India and overseas.......

Shakti Pumps extends holiday in main plant

Shakti Pumps (India) is still in process for resolving the issue and appointment of new labour contractors. Hence, the company extended the holiday for January 16, 2019 in the main plant of the company.......