Tag: Fiscal Deficit

The issue of interim dividend may come up for discussion in the next Reserve Bank of India (RBI) board meeting as the government struggles to meet its ambitious fiscal deficit target of 3.3% amid revenue shortfall, sources said.

Finance Minister Nirmala Sitharaman is likely to stay conservative about the nominal gross domestic product (GDP) growth and set it at 9.5-10% in the FY21 budget as the time for 'picking optimistic target' experiments are over, say sources.

The government's tax collection is likely to fall short of its estimate by Rs 2.5 lakh crore or 1.2% of GDP in 2019-20, former finance secretary Subhash Chandra Garg said on Sunday while calling for scrapping of dividend distribution tax.

State governments will probably face challenges in decreasing deficits as economic growth lags and infrastructure spending resumes

India's government intends to push the central bank for a fiscal aid in the frame of another interim dividend, as it struggles to reach its expenditure promises amid an abrupt revenue shortfall, three sources immediately aware of the subject said.

India's government is expected to lower spending for the current fiscal year by as much as Rs 2 lakh crore as it overlooks one of the biggest tax shortfalls in recent years, three government experts stated.