Page 3 - Devendra Kumar Pant News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 government's 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