sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« News Headlines »
 5 things you should not forget while filing income tax return
 10 Easy Steps to File ITR 1 Online
 How to e-verify income tax return?
 What to do when you receive a notice from the tax department
 How to use your Form 16
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19

Fiscal deficit target possible: Govt
August, 02nd 2006
The government today said it is working to meet the fiscal deficit target of 3.8 per cent of the GDP in the current financial year and also keep borrowing within prescribed limits. 
 
Speaking to reporters outside Parliament, Finance Minister P Chidambaram said the fiscal deficit was higher than expected due to front-loading of expenditure. 
 
Plan expenditure looks high because it is front-loaded. The situation was the same last year as well, he said. 
 
Chidambaram said expenditure has increased because transfer to states have been generous and expenditure on roads, ports and other infrastructure has risen. 
 
He said higher expenditure is good so long as it remains within the budgeted target. As per the fiscal responsibility and budgetary management targets, the government has projected to bring down fiscal deficit to 3.8 per cent of the GDP this financial year, down from 4.1 per cent the previous year. 
 
In a report, JPMorgan Chase Bank said spending could have been front-loaded or some delayed expenditure from last year had come through in the early months of this financial year. 
 
However, it is unclear how much of the jump in expenditure owes to higher populist spending, especially on the National Rural Employment Guarantee Act. The lack of clarity on the reasons and sources of the unexpected surge in spending only increases the uncertainty over achieving the full-year fiscal deficit target, it said. 
 
As per the latest data, fiscal deficit at Rs 77,740 crore in the first quarter accounted for 52.30 per cent of the projected figure of Rs 1,48,686 crore for the entire financial year. 
 
Total expenditure at Rs 1,31,470 crore during the quarter was 23.3 per cent of the total estimates of Rs 5,63,991 crore, while receipts at Rs 53,730 crore accounted for just 12.9 per cent of the projections for the year.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - About Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions