#Modinomics | Fiscal Policy & Union Budget 2024-25: Preview With Dr. Rathin Roy
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#modinomics
#modinomics #budget2024 #fiscalpolicy #indiangdp #nirmalasitharaman
Watch Business Today TV's Managing Editor, Siddharth Zarabi, in conversation with Dr. Rathin Roy, former member of the PMEAC and Ex-Director & CEO of NIPFP as they explore the macroeconomic landscape of the Union Budget, set to be unveiled on July 23, and discuss the outlook for India's fiscal policy in FY25 and provide insights into India's fiscal policy outlook. For 2023-24, the government's fiscal deficit was recorded at 5.63% of GDP, slightly below the 5.8% forecasted in the Union Budget. This translated to a fiscal deficit of ₹16.53 lakh crore. The revised estimates for 2023-24 projected the fiscal deficit at ₹17.34 lakh crore, equating to 5.8% of GDP, as declared by Finance Minister Nirmala Sitharaman in the interim Budget presented on February 1, 2024. The total expenditure incurred by the central government was ₹44,42,542 crore (98.9 per cent of corresponding RE of 2023-24), of which ₹34,94,036 crore was on revenue account and ₹9,48,506 crore on capital account. Out of the total revenue expenditure, ₹10,63,871 crore was for interest payments and ₹4,13,542 crore for major subsidies. Notably, the government achieved its revenue collection target, with net tax collections reaching ₹23.26 lakh crore in FY24, while total expenditure amounted to ₹44.42 lakh crore, meeting 101.2% of the revised revenue estimates and 99% of the expenditure estimates. Morgan Stanley, a leading investment bank, anticipates that the central government will maintain a fiscal deficit target of 5.1% of GDP for FY25, in alignment with the interim budget. The bank also suggests that fiscal prudence, increased capital expenditure for job creation, and targeted social sector spending will be central themes of the Budget. Moreover, they predict a potential slight reduction in the fiscal deficit target due to robust tax and non-tax revenues. India's GDP growth rate was 7.8% for the quarter ending March 31, 2024, with an overall growth rate of 8.2% for FY24, up from 7% in FY23. Don't miss this insightful analysis on Business Today TV!
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Watch Business Today TV's Managing Editor, Siddharth Zarabi, in conversation with Dr. Rathin Roy, former member of the PMEAC and Ex-Director & CEO of NIPFP as they explore the macroeconomic landscape of the Union Budget, set to be unveiled on July 23, and discuss the outlook for India's fiscal policy in FY25 and provide insights into India's fiscal policy outlook. For 2023-24, the government's fiscal deficit was recorded at 5.63% of GDP, slightly below the 5.8% forecasted in the Union Budget. This translated to a fiscal deficit of ₹16.53 lakh crore. The revised estimates for 2023-24 projected the fiscal deficit at ₹17.34 lakh crore, equating to 5.8% of GDP, as declared by Finance Minister Nirmala Sitharaman in the interim Budget presented on February 1, 2024. The total expenditure incurred by the central government was ₹44,42,542 crore (98.9 per cent of corresponding RE of 2023-24), of which ₹34,94,036 crore was on revenue account and ₹9,48,506 crore on capital account. Out of the total revenue expenditure, ₹10,63,871 crore was for interest payments and ₹4,13,542 crore for major subsidies. Notably, the government achieved its revenue collection target, with net tax collections reaching ₹23.26 lakh crore in FY24, while total expenditure amounted to ₹44.42 lakh crore, meeting 101.2% of the revised revenue estimates and 99% of the expenditure estimates. Morgan Stanley, a leading investment bank, anticipates that the central government will maintain a fiscal deficit target of 5.1% of GDP for FY25, in alignment with the interim budget. The bank also suggests that fiscal prudence, increased capital expenditure for job creation, and targeted social sector spending will be central themes of the Budget. Moreover, they predict a potential slight reduction in the fiscal deficit target due to robust tax and non-tax revenues. India's GDP growth rate was 7.8% for the quarter ending March 31, 2024, with an overall growth rate of 8.2% for FY24, up from 7% in FY23. Don't miss this insightful analysis on Business Today TV!
-----------------------
Thank You for watching! Do not forget to Like | Comment | Share
-----------------------
About the channel
Watch us for the best news and views on business, stock markets, crypto currencies, consumer technology, the world of real estate, bullion, automobiles, start-ups and unicorns and personal finance. Business Today TV will also bring you all you need to know about mutual funds, insurance, loans and pension plans among others.
Follow us at:
Website: https://www.businesstoday.in
WhatsApp: whatsapp.com/channel/0029Va4Hd309hXFCqY62yD2I
Facebook: Facebook: BusinessToday
twitter: Twitter: business_today
Instagram: Instagram: business_today
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