India Ratings and Research’s (Ind-Ra) on Monday said the slippage in central government’s fiscal deficit in FY19 is likely to be Rs 39900 crore.
Fiscal deficit in FY19 is estimated to be Rs 6.67 lakh crore as against the budgeted Rs 6.24 lakh crore (FY18 (revised estimate, ): Rs 5.92 lakh crore), it said.
This translates into fiscal deficit/GDP of 3.5% for FY19 compared to the budgeted estimate of 3.3%. This means that FY19 will be the third consecutive year in which fiscal deficit/GDP will be 3.5%, the rating agency said.
The Finance Bill 2018 says that the “central government shall take appropriate measures to limit the fiscal deficit up to 3% of GDP by 31 March 2021", it said.
Airtel Africa, a unit of Indian telecom operator Bharti Airtel Ltd, said on Monday it had appointed eight banks for an intended initial public offering (IPO) on an international stock exchange.
When they get onto the blue turf in Odisha’s newly spruced up Kalinga stadium on November 28 to launch campaign for the World Cup, hockey fans would hope that the men in blue will blow away the nat
Negotiations are on and the construction work for a grand Ram temple will start anytime in December.
India observes National Milk Day on Monday as a mark of respect to the Father of White Revolution and founder of the country’s mother dairy, Amul, Dr Verghese Kurien.