« Top Headlines » Open DEMAT Account in 24 hrs  New Income Tax Act: ITR forms to be issued prior to FY28, says govt  GSTR-9C Explained: Turnover Limit, Due Date, Statement Format & How to Prepare It in Tally Prime (2025 Update)  Will Income Tax Department release new ITR forms by January 2026? Finance Ministry says this  The Government of India has strengthened MSME protection through strict payment rules, ensuring that Micro & Small Enterprises receive timely payments from buyers. Under the MSME Development Act (MSMED Act), 2006, buyers must make payments within:  ITR Refund Delays in India: Why They Happen & How to FastTrack Your Refund in 2025  ITR Refund Delay: From Bank Errors To Department Checks, 5 Big Reasons Your Refund Gets Stuck  Income Tax Slabs 2025: New Vs Old Regime; Which One Is Better For You For FY2025-26?  Seamless Integration: How Tally Prime Connects Businesses to the Digital Economy  Govt to notify new ITR forms, Income Tax Act 2025 rules by January 2026: CBDT chief  Digital Efficiency for MSMEs: The Tally Prime Advantage  5 Ways Tally Prime Reduces Cost and Boosts Productivity for Startups «  Govt collects Rs 44,463 cr taxes in Q1... FD tax sops come with a PAN rider... » 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.