Hello English
3.9 percent fiscal deficit 'seems achievable': Economic Survey
Language : hindi
Business . Difficult
26-02-2016 11:49:19 .
Read the article and answer the questions given below
 The government's fiscal deficit target of 3. percent for the current fiscal "seems achievable", the 2015 16 Economic Survey said on Friday. 
 
"Significant increase in revenue receipts, led by buoyant indirect tax collection, higher level of capital expenditure on the plan side, lower subsidies and enhanced untied resources transferred to the states following the acceptance of recommendations of the 14th Finance Commission" were the basis of the government's optimism on this count. 
The government has targeted reducing the fiscal deficit to 3. percent of the gross domestic product (GDP) in the current financial year, compared with four percent last year, and reduce it further to 3. percent in 2016 17. 
"The coming year is expected to be challenging one from the fiscal point of view because of challenges posed by lower than projected nominal GDP growth, said the survey, which was presented in parliament on Friday. 
"The chances of India's growth rate in 2016 17 increasing significantly beyond 2015 16 levels are not very high, due to likelihood of persistence of global slowdown, it said. 
"The implementation of the Pay Commission recommendations and the 'One Rank One Pay' scheme will put additional burden on expenditure, it added. 
Moody's Investors Service on Tuesday said the country's fiscal position will remain weaker than other emerging economies in the near term even if fiscal consolidation continued on course. 
"Even if the budgetary consolidation continues, India's fiscal metrics will remain weaker than rating peers in the near term, because of the relatively high levels of deficits and debts of India's state and central governments, Moody's said in report. 
"The importance of the upcoming budget lies in its message on the government's fiscal consolidation plans, the American agency said. 
"But at around 63. percent of GDP, India's government debt ratio remains high compared with median of 49. percent for Baa3 rated peers. Without continued fiscal  consolidation, India's government finances will continue to compare poorly with the peers, it added. 
The fiscal deficit for 2014 15 touched 4. percent of the gross domestic product. 
OTHER NEWS
Sonu Nigam bats for more awareness about HIV in India
Freedom 251: FIR certain, defamation case likely against Ringing Bells
Economic Survey sees no pick-up in growth, pushes reforms (Roundup)
SC refuses to entertain Swamy's plea for Rama temple at Ayodhya
Audiences ready to back great stories like 'Neerja', says co-producer
DIFFICULT WORDS
recommendations implementation significantly consolidation government's transferred persistence governments expenditure challenging
Now answer these questions and win coins
Q1
10 Win coins
Q2
10 Win coins
Q3
10 Win coins
Click on any word to find out its meaning