India’s Apr-Sep 2019 fiscal deficit (half-yearly) reaches 92.6% of FY20 target

India’s fiscal deficit touched nearly 93 per cent of the budget estimate at Rs 6.52 lakh crore during April-September period of the current financial year, according to latest government data. The fiscal deficit amounts to 92.6 per cent of the budgeted target for the current fiscal year. In absolute terms, the fiscal deficit, the gap […]

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India’s interim budget 2019-20 offers cash dole to small farmers before general election

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Pitching a strong re-election bid, India’s BJP-led NDA government announced the biggest income tax sops for middle class, including complete exemption for income up to Rs 5 lakh, and Rs 6,000 annual cash dole to poor farmers in a scheme that will cost Rs 75,000 crore per year. Converting a vote on account speech into […]

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Saudi 1Q deficit narrows, some allowance cuts reversed, says Fitch

Saudi Arabia’s sharply narrower first quarter deficit highlights the positive fiscal impact of higher oil prices, but the partial reversal of a cut in public sector allowances shows reforms are not yet well entrenched, Fitch Ratings said. Saudi Arabia’s Ministry of Finance published the government’s first-ever quarterly budget performance update on 11 May as part […]

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India plans to sell stakes in state-owned energy, utility and steel firms to bridge fiscal deficit

India has plans to sell part stakes worth $5.4 billion in seven state-run energy and steel companies during the current financial year, as the government attempts to bridge its fiscal deficit. The government has increased spending on critical infrastructure and has agreed to keep the fiscal deficit to 3.2 percent of the country’s gross domestic […]

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