1. Home
  2. Interim Budget 2014: Fiscal deficit to be contained at 4.6%

Interim Budget 2014: Fiscal deficit to be contained at 4.6%

February 17, 2014

Interim_Budget_2014

New Delhi, Feb 17: The government on Monday said the fiscal deficit for the current financial year will be contained at 4.6 per cent of GDP.

“Let me begin with the good news. Fiscal deficit for 2013-14 will be contained at 4.6 per cent of GDP, well below the red line that I had drawn last year,” Finance Minister P. Chidambaram said in the interim budget presented in Parliament.

The fiscal deficit, which is the gap between expenditure and revenue, was 4.9 per cent of GDP in the previous financial year.

After talking over as Finance Minister in August 2012, Chidambaram had drawn up a financial consolidation road map to lower the fiscal deficit to 4.8 per cent of GDP in 2013-14, 4.2 per cent in 2014-15 and 3.6 per cent in 2015-16.

He said the government’s objectives included fiscal consolidation, reviving the growth cycle and enhancing manufacturing.

The Minister had on several occasions said he had drawn a red line for the fiscal deficit and it would not be breached.

As per current indications, the fiscal deficit has come down mainly on account of expenditure compression and higher realisation from the 2G spectrum auction.

The Finance Minister also said GDP growth has improved and will be 4.9 per cent for the current financial year.

Economic growth had slowed to a decade’s low of 4.5 per cent in 2012-13.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 8,2020

New Delhi, May 8: India's count of COVID-19 cases on Friday rose to 56,342 including 1,886 deaths, according to the Ministry of Health and Family Welfare.

Currently, there are 37,916 active cases while 16,539 COVID-19 positive patients have been cured/discharged and one has migrated.

Maharashtra has the highest number of cases with 18,120 followed by Gujarat with 7,013 cases and Delhi with 5,980 cases.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
June 4,2020

New Delhi, Jun 4: Press Council of India (PCI) member BR Gupta has resigned from his post, saying he was unable to work individually or collectively for the media, which is in a "deep crisis".

"I have tendered my resignation as a Press Council of India member," Gupta told PTI.

He said the PCI had the responsibility to encourage media and media professionals constantly.

"But everyone now realises that the media scenario is in a deep crisis. The motto for which the Council was created was not being fulfilled and I felt I was not doing anything remarkable for the freedom of media," Gupta said.

He claimed that the PCI was not a wholly representative body for the media.

"Then how can we come out of the crisis being faced by the media and mediapersons? It is a big challenge for us. I have quit as I have not been able to work individually or collectively being a PCI member," Gupta added.

Referring to salary cuts and job losses, he said media and mediapersons were struggling for social, political and economic justice.

When contacted, PCI chairman Justice C K Prasad said Gupta's resignation has not been accepted yet.

"I have received it (the resignation). I have not gone through it. It has not been accepted," Prasad told PTI.

Gupta was appointed as a PCI member for a three-year term on May 30, 2018.

He said liberty is one of the basic features of the preamble to the Constitution that continues to inspire people and the media.

"It is difficult (for me) to fulfil the unbiased role and responsibility to help citizens and the media for making democracy stronger," Gupta said.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 11,2020

New Delhi, May 11: With an increase of 4,213 cases in the past 24 hours, India's COVID-19 count reached 67,152 on Monday, according to the Union Ministry of Health and Family Welfare.

The number of active cases in the country rose to 44,029, while 20,916 patients have been cured and discharged and one has migrated, according to the Ministry.

The number of deaths in the country due to the infection reached 2,206 on Sunday.

Maharashtra, with 22,171 confirmed cases is the worst-affected due to the infection so far and is followed by Gujarat with 8,194 cases.

However, Tamil Nadu surpassed the national capital in total coronavirus cases numbers. Delhi has 6,923 reported cases while Tamil Nadu has 7,204 confirmed cases.

Maximum deaths due to coronavirus have so far been recorded in Maharashtra (832), followed by Gujarat which has toll of 493.

Comments

Add new comment

About text formats
  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.