Moody’s attributed the deceleration to an investment-led economic slowdown that has broadened into consumption, driven by financial stress among rural households and weak job creation. read more

In June 2019, the Pakistan government had announced that it intends to keep the deficit at 7.1 per cent of GDP, whereas the target at the start of the year was 4.9 per cent. read more

The fiscal deficit for the current financial year is likely to be around 3.4% of gross domestic product (GDP), marginally higher than the targeted 3.3%. read more

The excise duty cut on petrol and diesel is credit negative for India as it will reduce government revenue and increase fiscal deficit by 0.1 per cent to 3.4 per cent of GDP in the year ending March 2019, Moody’s Investors Service said on Tuesday. read more

Addressing an investors summit in Dehradun, PM Narendra Modi said India’s economy had stabilised over the last few years, fiscal deficit had come down, inflation was under control and middle class is rising. read more

Speaking to reporters after Prime Minister Narendra Modi reviewed various departments of the finance ministry, finance minister Arun Jaitley said the government is confident of surpassing the 7.2-7.5% GDP growth rate. read more

Moody’s expects the government to meet its fiscal deficit target of 3.3% for 2018-19, based on its commitment to gradual fiscal consolidation and budget assumptions which appear achievable, it said in a statement. read more

Fiscal deficit for the first eleven months of FY18 stood at Rs 7.2 lakh crore, 120.3% of the estimated full-year target. read more