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Sanjiv Bajaj, the chairman and managing director of Bajaj Finserv and the current chairman of Confederation of Indian Industry said, "The government managed a tough balancing act of meeting the priorities of growth through capital spending while keeping a fiscal deficit under check. While at the same time very strong focus on inclusion to ...
A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.
The first union budget of independent India was presented by R. K. Shanmukham Chetty on 26 November 1947. Total revenues stood at ₹171.15 crore, and the fiscal deficit was ₹24.59 crore. The total expenditure was estimated at ₹197.29 crore with Defence expenditure at ₹92.74 crore.
The Union Budget is the annual financial report of India; an estimate of income and expenditure of the government on a periodical basis. As per Article 112 of the Indian Constitution, it is a compulsory task of the government. [3] The first budget of India was presented on 18 February 1860 by Scotsman James Wilson. [4]
In February, Prime Minister Narendra Modi's government set a fiscal deficit target of 6.4% of gross domestic output (GDP) for the year that started on April 1, compared with a deficit of 6.7% last ...
The 2024 Interim-Union Budget of India [1] provides comprehensive information regarding the projected revenue and government spending for the fiscal year 2024–25, commencing on 1 April 2024 and concluding on 31st March 2025. [2] [3] [4]
Target of 4.1 per cent fiscal deficit is daunting but accepting it as a challenge [3] Finance Minister emphasizes on fiscal prudence, need to generate more resources. Iraq crisis having impact on oil prices; We must address the problem of black money fully; We must take bold steps to enhance economic activity
There was huge speculation that government may increase tax rates to decrease its fiscal deficit so, there was a dip in BSE Sensex after touching the 50,000 marks other than that many economic journals also suggested introducing a new tax on High net worth individuals. The demand in the Indian market was low and the unemployment rate was very ...