SME Times is powered by   
Search News
Just in:   • Distressed Jaypee home buyers seek government's intervention  • CII suggests creation of National Employment Board  • From merger, govt now looks to de-merge 3 PSU insurers then look for strategic sale  • April fiscal deficit at 0.75% of GDP  • Trump delays 10-city raids on illegal immigrants 
Last updated: 15 Apr, 2019  

RBI.Thmb.jpg Fiscal deficit within Budget target: Shaktikanta

RBI.9.jpg
   Top Stories
» April fiscal deficit at 0.75% of GDP
» Manufacturing outlook moderates in Q1: FICCI survey
» Printing of Budget commences with Halwa Ceremony
» NSIC signs MoU on eGovernance services benefitting MSMEs
» DPIIT to work with industry for exports promotion: Goyal
SME Times News Bureau | 15 Apr, 2019

Reserve Bank of India (RBI) Governor Shaktikanta Das recently said that India’s gross fiscal deficit is on the expected lines and adhering to budgetary targets.

Speaking earlier this week while speaking at the "Governor Talks" event organised on the sidelines of the World Bank-International Monetary Fund (IMF) Spring Meetings in Washington DC, the RBI governor added that the current account deficit is expected to be around 2.5 per cent of the GDP in 2018-19.

The statement is the first official confirmation at a senior level of the government achieving the fiscal deficit target of 3.4 per cent in the previous fiscal 2018-19.

The Controller General of Accounts (CGA) normally releases the fiscal deficit figures of the previous fiscal by May 15.

Das also said the country's current account deficit (CAD) in 2018-19 is expected to come in at around 2.5 per cent of the gross domestic product (GDP).

According to the government, India's balance of payment situation eased mainly on account of falling global oil prices.

RBI, while deciding its rate of interest, also takes into account these macro data indicators of the Finance Ministry.

Earlier this month, the RBI cut the repo, or its short-term lending rate for commercial banks, by 25 basis points to 6 per cent, and lowered the current fiscal's GDP growth forecast to 7.2 per cent.

"The rate cut is in consonance of achieving the medium term objective of maintaining inflation at the 4 per cent level while supporting growth," the statement, announcing the RBI's first bi-monthly monetary policy review of the fiscal, said.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 24 Jun, 2019
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» MSMEs can now register delayed payment grievances online(2)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter