Page 2 - Devendra Kumar Pant News Today

Budget 2024: India Ratings and Research (Ind-Ra) stated that the government aims to achieve a fiscal deficit to GDP ratio of 5.3% in FY25. However, it may miss the 5.9% target for FY24 due to a lower nominal GDP growth rate. The government plans to reduce the fiscal deficit to 4.5% of GDP by FY26. Ind-Ra projected a net tax revenue buoyancy ratio of 1.2x in FY25. It also noted a slowdown in capex growth in FY25 and limited scope for revenue expenditure rationalization.

The ministry of finance is likely to assume crude oil price to remain within $85 per barrel while estimating subsidies for the Interim Budget 2024-25 (FY25), to be presented on February 1. Brent crude prices moved up on Thursday, ending at $78.9 per barrel. Crude oil and cooking gas prices, which move in tandem, impact fertiliser and cooking gas subsidies, constituting 53 per cent of the governments total subsidies.

FY24 fiscal deficit likely to come in at 6% versus target of 5.9%

Experts note that while Covid cases are on the rise, the intensity and spread is still limited. If and when the case count increases significantly, the new Covid variant could begin to impact the real economy

High frequency indicators like GST revenues and core sector data indicate that Indians may splurge on shopping this festive season - Issue Date: Oct 29, 2023

The BT-C Fore Business Confidence Index is at a five-quarter high. The economy may do better than expected in FY24, but muted global growth is a concern

After slowing for four months in a row, retail inflation accelerated faster than expected to a three-month high of 4.8% in June due to rising food prices from a 25-month low of 4.31% in May, potentially delaying the likelihood of monetary easing.

Economic recovery and anti-evasion activities, particularly against fake billers, were also credited for the higher collections

Indias GDP contraction, due to the impact of Covid pandemic, narrowed down to (-) 6.6 per cent in FY21 from an earlier projection of (-) 7.3 per cent on a year-on-year basis, the First Revised Estimates for 2020-21 showed on Monday."Real ...

Oil prices have been on an unabated uptrend for more than a month now. From a low of $69 per barrel, hit on December 1, 2021, Brent crude prices are above $86 per barrel now. This amounts to an approximate jump of 25% in four weeks. Last Friday, crude prices notched a fourth positive week, ...