India's fiscal deficit target News

Analysts said the additional borrowing was a "negative" that could raise the fiscal deficit to 3.5 percent of gross domestic product, against Finance Minister Arun Jaitley's stated target of 3.2 percent.

GIC Re set a price range of Rs 855-912 a share for its IPO that will run from Oct 11-13, according to a public notice on Wednesday.

To finance the fiscal deficit for the current financial year, the Budget has pegged gross borrowing at Rs 5.8 lakh crore and net borrowing at Rs 4.25 lakh crore.

Growth in Asia`s third-largest economy slowed to a three-year low of 5.7 percent in the quarter that ended in June, and Jaitley last week said that New Delhi was looking for ways to speed it up.

Finance Minister Arun Jaitley on Tuesday ruled out any waiver of farm loan and said the Centre will adhere to fiscal targets.  

The government is confident of achieving the fiscal deficit target of 3.5 percent for 2016- 17, the newly appointed Controller General of Accounts (CGA), Anthony Lianzuala, said on Monday.

India's fiscal deficit touched Rs 5.64 lakh crore at the end of January, 105.7 percent of the full-year target, mainly due to lower realisation of non-tax revenue.

Government is likely to set fiscal deficit target in the range of 3.3-3.4 percent of GDP for the financial year 2017-18 in the upcoming Budget, say research reports.  

Government is expected to meet its fiscal deficit target of 3 percent for the next financial year on account of additional revenue from penalty on black money and deposits under the income disclosure, says a report.

The pace of fiscal tightening is likely to slow down next fiscal, with the government's deficit target expected to be higher at 3.7 percent of GDP, says a DBS report.

Jaitley reiterated a reassurances that India would not pursue foreign companies with new retroactive tax claims, adding that he would like to see the few remaining disputes resolved "as expeditiously as possible."  

The fiscal deficit target for 2014-2015 is pegged at 4.1 percent of GDP and for the next fiscal at 3.9 percent.

Government on Tuesday deferred the telecom spectrum auction by a week to March 4, while the deadline for bidders to submit applications has been extended to February 16.