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Sunday, Jun 8, 2025
According to SBI Research, a good portion of the drawdown from savings have gone to physical assets.
The federal government met targetted fiscal deficit of 6.4% of the gross domestic product, helped by higher tax revenue even as spending increased, as per a statement. The government will release the revised GDP estimate later in the day.
In a research report, the US-based rating agency said bureaucracy could slow approval processes in obtaining licences and setting up businesses, prolonging project gestation.
The growth rate for the third quarter of India's 2022/23 financial year was below a Reuters forecast of 4.6%.
Today, we are a very high per capita income State. Has the boon turned into a bane? asks the columnist.
Real GDP growth is expected at 6.5 per cent and the government expects to borrow a record Rs 15.4 lakh crore to bridge the revenue gap.
Though the International Monetary Fund (IMF) has sounded of a global economic slowdown, we remain cautiously optimistic about the Indian economy and the GDP to maintain reasonable growth momentum. India could see growth between 6.5 and 7.1 per cent during FY2022–23 and 5.5–6.1 per cent in the following year.
In the last full budget before a 2024 general election, Prime Minister Narendra Modi's government is expected to focus on lowering the fiscal deficit rather than extra spending.
The author offers two perspectives to view a budget – a narrow accounting one and a broader economic one.
The fiscal health of the states has improved from a sharp pandemic-induced deterioration in 2020-21 on the back of a broad-based economic recovery and resulting high revenue collections.
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