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news digest: india's gdp growth rebounds, fiscal deficit at 96%, and more




economy rebounds: gdp growth rate rises to 6.3% in september quarter the country’s economic growth recovered to more than 6 per cent in the july-september quarter, backed by strong manufacturing, allaying doubts about disruptions caused by the goods and services tax (gst). this was a break with fi...



pm modi's economic panel bats for fiscal consolidation




the newly constituted economic advisory council to the prime minister (eac-pm) on wednesday batted for sticking to fiscal consolidation at a time when there was demand for fiscal stimulus to boost sagging economic growth. after its first meeting, the council arrived at a broad consensus about the sl...



gdp growth dipped to 5.7% or below eight times during upa regime, says pm




he said that the government will maintain the financial stability and will keep taking necessary steps to boost investment. "cabinet set up sit in its 1st meeting to crack black money overseas, passed insolvency & bankruptcy code. record number of foreign companies are investing in india today," he ...



i do see case for fiscal stimulus, says niti vc rajiv kumar




niti aayog vice chairman rajiv kumar has pitched for fiscal stimulus to boost growth with a rider that additional expenditure should be used only for increasing productivity and capital expenditure.faced with slowing economic growth, the industry has been clamouring for a stimulus package from the g...



i do see case for fiscal stimulus, says niti aayog vc rajiv kumar




niti aayog vice chairman rajiv kumar has pitched for fiscal stimulus to boost growth with a rider that additional expenditure should be used only for increasing productivity and capital expenditure.faced with slowing economic growth, the industry has been clamouring for a stimulus package from the g...



follow fiscal glide path, says jaitley after moody's upgrade




a day after dithering on the fiscal glide path, finance minister arun jaitley on friday said the government will maintain fiscal discipline and adhere to the roadmap suggested by a government-constituted panel. jaitley’s remark follows an upgrade in india’s sovereign ratings by moody’s investo...



stick to fiscal consolidation road map: eac-pm to govt




the newly constituted economic advisory council to the prime minister (eac-pm) wants the government to stick to its fiscal consolidation road map and has suggested that stimulus to the industry should not be at the cost of fiscal prudence.the council, which met for the first time today, has identifi...



india's macroeconomic fundamentals remain strong: fm




finance minister arun jaitley’s press conference on tuesday, to announce a new bank recapitalisation programme, was also an image building exercise, coming at a time when the government is being criticised for its handling of the economy after demonetisation and goods and service tax and with grow...



stimulus roadblock: fiscal deficit at 96% of full-year target




in what could dash hopes of stimulus to propel the economy, the centre’s fiscal deficit for april-august came in at rs 5.25 lakh crore, the highest ever for this period compared to any previous year.  the deficit for the first five months of the year stood at 96 per cent of the full-year target o...



india seeks hefty dividends from state firms as its revenues falter




india is demanding millions of dollars in dividends from 12 reluctant state companies to make up for an expected tax revenue shortfall this fiscal year, as a slump in economic growth risks new delhi overshooting its fiscal deficit target. the demand has been made following a finance ministry assessm...



govt cuts capex two months in a row to contain fiscal deficit




the government had to cut expenditure, including on the much-needed capital front, in september for a second month in a row, to control its fiscal deficit.   the squeeze on capital expenditure (capex) was so much that it declined even cumulatively as a percentage of budget expenditure in the first...



with fiscal deficit spiking, price rise imminent: report




the country’s fiscal deficit is set to rise alarmingly over and above the budget estimate of 3.2% of gdp (gross domestic product) for the current financial year (2017-18), according to a bank report.fiscal deficit refers to the difference between the government’s total revenues and total expendi...



rupee may get boost from recap plan for psbs: morgan stanley report




the rupee is likely to get a boost from the government's psu bank recapitalisation programme which is expected to support private capex recovery and increase foreign investor interest in domestic equity markets, says a report.according to the global financial services major, "stronger growth and inr...



cabinet approves rs 2.11 lakh-cr public sector banks' capitalisation plan




inflation has consistently come down since 2014 and it will not cross 4% this year, said dea secretary s c garg at a press conference on "state of the economy". the cabinet today approved an unprecedented capitalisation plan of rs 2,11,000 crore for public sector banks', said dfs secretary rajiv kum...



fiscal prudence a challenge, but no need for panic: jaitley




as the government looks at ways to revive sagging growth, finance minister arun jaitley today said maintaining fiscal prudence is a "challenge", but maintained that there is no need to "panic"."how do you maintain the balancing act between continuing to spend in an economy, continuing to support you...



indian economy on a strong wicket;fundamentals sound: jaitley




finance minister arun jaitley today said the indian economy is on a strong wicket with sound macro-economic fundamentals.at a press briefing to detail state of the economy, he said india has been the fastest growing major economy for the last three years and the attempt is to maintain high growth ra...



news digest: rbi cuts growth forecast, modi slams upa over gdp, and more




rbi cuts growth forecastthe reserve bank of india (rbi) kept its policy rates unchanged on wednesday, revised its inflation forecast for the second half of the fiscal year, and lowered the growth forecast sharply, while asking the government not to be too ambitious with its fiscal stimulus package. ...



moody's rating upgrade: govt to stick to fiscal road map, says arun jaitley




a day after dithering on the fiscal glide path, finance minister arun jaitley, upbeat on the moody’s upgrade, said the government would maintain fiscal discipline and adhere to the road map suggested by a government-constituted panel.  “we intend to maintain the fiscal glide path. we believe th...



govt eyes extra rs 500 bn to halt slowdown




the centre is considering a plan to loosen its fiscal deficit target to enable it to spend up to rs 500 billion more to halt an economic slowdown, two officials with direct knowledge of the plan said on thursday.growth in asia's third-largest economy slowed to a three-year low of 5.7% in the quarter...



news digest: road ministry's budget allocation, amazon's loss, and more




bharatmala: finance ministry explores cut in road ministry's budget allocation at a time when union road minister nitin gadkari has spelt out an ambitious plan to execute highways projects, including bharatmala, at an estimated cost of rs 7 lakh crore, the finance ministry is mulling over a reductio...



india's growth slump: no easy answers




“we should be very careful lest fiscal actions undercut macroeconomic stability,” said reserve bank of india (rbi) governor, urjit patel, in response to a journalist’s query on fiscal stimulus packages during the monetary policy conference on october 2017. the prime minister’s economic advis...



structural reforms could change the glide path: arun jaitley




union finance minister arun jaitley has hinted that reform measures such as the introduction of the goods and services tax (gst) could possibly lead to a deviation from the fiscal road map. “no pause but challenges arising from structural reforms (which) could change the glide path,” a research ...



fitch lowers india's growth forecast to 6.9% for fy18 from 7.4%




fitch ratings has lowered india's economic growth forecast for the current fiscal to 6.9 per cent from 7.4 per cent after the gdp growth "unexpectedly faltered" in the april-june quarter.the credit rating agency said however that it expects the economic activity to accelerate in the second half of t...



pm's advisory council member questions imf, wb growth outlook




noted economist and member of the economic advisory council to the prime minister (eac-pm) rathin roy today dismissed lowering of india's growth projections by the imf and the world bank, saying they often go 'wrong'.while the international monetary fund (imf) has lowered india's growth forecast for...



govt likely to achieve fiscal deficit target of 3.2% in fy18: sbi report




the government is likely to achieve its fiscal deficit target of 3.2 per cent this financial year as the budgeted disinvestment receipts are on track to realise rs 72,500 crore, says an sbi research report. according to the report, though there are predictions that the government is going to have a ...