Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

Budget 2019: India Faces Risk of Missing 3.3% Fiscal Deficit Target if Tax Revenue Underperforms, says Moody's

The 2019 Union Budget lowered fiscal deficit projection for the current financial year to 3.3 per cent from 3.4 per cent targeted in the Interim Budget.

PTI

Updated:July 5, 2019, 4:04 PM IST
facebookTwitterskypewhatsapp
Budget 2019: India Faces Risk of Missing 3.3% Fiscal Deficit Target if Tax Revenue Underperforms, says Moody's
Representative image (Reuters)
Loading...

New Delhi: Moody's said on Friday that there are risks of India missing 3.3 per cent fiscal deficit target for the current financial year if tax revenue falls short of projection.

RATE The Budget

The Budget 2019-20 lowered fiscal deficit projection for the current financial year to 3.3 per cent from 3.4 per cent targeted in the Interim Budget 2019-20 in February. The fiscal deficit, which is the gap between government expenditure and revenue, was 3.4 per cent in 2018-19.

"There's a risk that India could miss its deficit target for fiscal 2019 if income from tax revenue underperforms projections, as it did last year," Moody's Investors Service Associate Managing Director (Sovereign Risk Group) Gene Fang said.

The rating agency, however, said the headline deficit may be achieved but through reliance on one-off revenue such as disinvestments and transfers from the central bank, and off-budget spending.

The government has pegged disinvestment target for the current financial year at Rs 1.05 lakh crore, up from Rs 90,000 crore projected in Interim Budget for 2019-20 in February.

Moody's said that in the Budget, India's government announced a lower fiscal deficit target for fiscal 2019, while maintaining its support for growth and incomes.

"Achieving these competing goals will be challenging. We expect the economy to grow relatively slowly, despite the government's income support measures," Fang said.

In addition to funding, an expansion of support for farmers, a new pension scheme and relief for small taxpayers, as previously announced, the latest Budget includes a Rs 70,000-crore recapitalisation of state-owned banks.

"This will support growth by encouraging the flow of credit to the economy, although simultaneously adding to government debt," Fang said.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 103.85 11.43
Indiabulls Hsg 646.35 1.16
Infosys 784.85 0.71
HDFC Bank 2,391.20 -0.15
Tata Motors 170.00 5.62
Company Price Change %Gain
Yes Bank 103.90 11.48
ICICI Bank 424.55 0.51
Reliance 1,293.10 1.35
Indiabulls Hsg 646.10 1.22
SpiceJet 131.75 4.36
Top Gainers
Company Price Change %Gain
Yes Bank 103.85 11.43
Tata Motors 170.00 5.62
Sun Pharma 433.30 2.45
NTPC 130.95 2.34
Titan Company 1,114.75 2.33
Company Price Change %Gain
Yes Bank 103.90 11.48
Tata Motors 169.85 5.53
Sun Pharma 433.25 2.57
NTPC 131.05 2.46
Power Grid Corp 209.00 2.05
Top Losers
Company Price Change %Gain
TCS 2,106.00 -1.85
M&M 622.90 -1.42
Britannia 2,747.15 -0.95
UPL 641.90 -0.85
HCL Tech 1,019.65 -0.76
Company Price Change %Gain
TCS 2,105.30 -1.86
M&M 623.10 -1.35
HCL Tech 1,020.00 -0.71
Kotak Mahindra 1,502.50 -0.35
HDFC Bank 2,392.15 -0.16

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results