Search Results for: fiscal deficit

chidambarams-interim-budget-2014-highlights-part-1

Chidambaram's Interim Budget 2014 highlights - Part - 1

New Delhi, Feb 17 (ANI): Union Finance Minister P Chidambaram presented the interim budget for the fiscal year 2014-15 on Monday in Lok Sabha. While presenting the budget Chidambaram said that the fiscal deficit for the current financial year will be contained at 4.6% of GDP well below the red line of 4.8 %. The fiscal deficit, which is the gap between expenditure and revenue, was 4.9% of GDP in the previous financial year. He said that the government's objectives included fiscal consolidation, reviving the growth cycle and enhancing manufacturing. Feb 17, 2014
p-chidambaram-finalises-interim-budget

P Chidambaram finalises interim budget

New Delhi, Feb 16 (ANI): Finance Minister P Chidambaram on Sunday finalised the interim budget or Vote On Account for fiscal year 2014-15 in New Delhi, which will be presented in parliament tomorrow.Chidambaram will be walking a tightrope when he presents an interim budget on Monday, doling out more funds to woo voters and tax cuts to support industry while projecting a lower fiscal deficit before elections.India is facing its worst economic slowdown in nearly a decade, with shrinking manufacturing, slower jobs growth and high inflation limiting the government's ability to offer sops to voters or companies to boost growth. Feb 16, 2014
govt-set-to-raise-rs-61162-cr-from-spectrum-auction

Govt set to raise Rs 61,162 cr from spectrum auction

New Delhi, Feb 14 (ANI): India is set to raise about Rs 61,162 crore from the auction of telecommunication spectrum, said Telecoms secretary M F Farooqui, far exceeding the government's target as it tries to narrow its budget deficit. Eight companies, including Bharti Airtel Ltd, Vodafone Group Plc's India unit and Reliance Industries Ltd, had applied to bid in the auction of 900 megahertz and 1800 megahertz band airwaves. Feb 14, 2014
car-sales-fall-in-january-no-respite-seen-siam

Car sales fall in January, no respite seen: SIAM

New Delhi /Noida, Feb 12 (ANI): Car sales in India fell 7.6 percent in January, the fourth straight month of decline, according to figures released by the Society of Indian Automobile Manufacturers (SIAM), in a market set to fall for the second straight year. Car sales fell to 160,289 vehicles last month, the industry body said, as consumers kept a tight lid on spending, hurt by high interest rates and fuel costs in a slowing economy. Sales have fallen 5.2 percent so far this fiscal year that ends in March. The Deputy Director General of Society of Indian Automobile Manufacturers (SIAM), Sugato Sen, said that the auto industry is hoping that the government may cut factory gate duties when it presents the interim budget while there are no signs of an immediate recovery. Feb 12, 2014
trade-deficit-narrows-on-77-percent-drop-in-gold-imports

Trade deficit narrows on 77 percent drop in gold imports

New Delhi, Feb 12 (ANI): India's trade deficit narrowed in January, helped by a 77 percent drop in imports of gold and silver while exports ticked up, improving the outlook for the country's fragile current account balance. The Trade Ministry said it had recommended easing curbs on gold imports, prompted by the brighter trade picture. Feb 12, 2014
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