[ NEW DELHI: Net direct tax collections rose 17.7% to nearly Rs 19.6 lakh crore during the last financial year, surpassing the revised estimate and providing comfort to the Centre to close the year with healthier than expected fiscal deficit.The Centre has already surpassed the indirect tax collection target for 2023-24 and some savings are … Read more
[ KUALA LUMPU: BMI, a Fitch Solutions company, has maintained its forecast that Malaysia’s fiscal deficit will narrow to 4.3 per cent of gross domestic product (GDP) this year from 5.0 per cent in 2023. The research firm said the country’s public finances are expected to remain on a path of consolidation over the coming … Read more
[ KUALA LUMPUR: The MADANI Government is confident of achieving stronger Gross Domestic Product (GDP) growth of between four and five per cent in 2024 on the back of strong fundamentals and reforms mapped out in the MADANI Economy and Budget 2024. Prime Minister Datuk Seri Anwar Ibrahim, who is also Finance Minister, said after … Read more
[ New Delhi: The Narendra Modi government has filed a note in the Supreme Court in which it has pointed out that Kerala’s current fiscal woes have to do with its own “fiscal mismanagement” over the last 20 years rather than due to any of the Centre’s actions. In the note, filed by the Attorney … Read more
[ In a bid to demystify the complexities of the Union Budget 2024, students and enthusiasts alike are urged to grasp ten fundamental terms crucial for economic comprehension. As the government lays out its financial roadmap, understanding concepts like Fiscal Deficit, Revenue Expenditure, and Skill Development Budget becomes paramount. These terms not only provide insights … Read more
[ NEW DELHI: Global ratings agency Fitch on Tuesday affirmed India’s long-term foreign currency issuer default ratings at ‘BBB-‘ with a stable outlook, but flagged that the country’s weak public finances were the “largest constraint” to the rating.Fitch expects the federal government to achieve its fiscal deficit target of 5.9% of gross domestic product in … Read more
[ NEW DELHI: Government will have to either trim expenditure or target higher revenue to meet the 5.9% fiscal deficit target for the current financial year as the nominal GDP is estimated to grow slower than the budget estimate.Against an estimated nominal GDP of around Rs 302 lakh crore, which translated into 10.5% growth, the … Read more
