The year FY21 saw a sharp rise in fiscal deficit to 9.3% of GDP as government borrowed heavily to finance Covid-19 relief measures. FY23 Budget will take the process of normalisation started in FY22 forward. The target is to bring fiscal deficit down to 4.5% of GDP by FY26. Capital expenditure as percentage of GDP, rising since FY12, is likely to be bumped up further as government goes all out to build infrastructure in order to stimulate the economy and provide jobs and relief to the common man.
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Macro
Budget 2022: Covid-hit fiscal deficit abating
Union Budget this year will take the process of normalisation started in FY22 forward, with the target to bring fiscal deficit down to 4.5% of GDP by FY26.
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The passenger vehicle segment’s growth was driven by the festivals coinciding in October, boosting consumer purchasing.
Cabinet approves ₹10,700 cr equity infusion into FCI to boost working capital & cut borrowing
By reducing reliance on short-term borrowings, with the equity infusion, the government aims to cut FCI’s interest expenses and lower its subsidy burden.
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As Trump outlines expansive trade and economic policies, should India and other EMs brace for shifts in trade, investment policies and geopolitical alliances? Here’s what experts say
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Emphasising the impact of rising capital costs on profitability and efficiency, Harshjit Sethi, managing director at Peak XV Partners, offers insights into India’s shifting startup landscape.