Afternoon Voice
Friday, December 13, 2019
Epaper
  • World
  • Opinion
  • National
  • Politics
  • Business
  • Science
  • Entertainment
    • All
    • Bollywood
    • Hollywood
    • Review
    Jennifer Lopez,Hustlers

    Fan urges flight passengers to watch ‘Hustlers’ to help JLo win at Oscars, she says ‘thank you’

    quentin tarantino,

    Quentin Tarantino gave hint about ‘Kill Bill Vol. 3’

    Virat Kohli , Anushka Sharma, wedding anniversary

    Virushka celebrates second wedding anniversary with heartfelt messages

    Sara Ali Khan,Sara Ali Khan Instagram, Coolie No. 1, Varun Dhawan

    Sara Ali Khan shared picture of herself, wrote sasti Rekha in fiery shayari

    Julia Louis-Dreyfus

    Julia Louis-Dreyfus calls ‘SNL’ environment ‘very sexist’ during her time

    Rebel Wilson

    Rebel Wilson reveals she’s ‘never been drunk’

    Miley cyrus

    Miley gets inked amid Liam Hemsworth divorce

    Deepika Padukone

    Deepika slays in new shoulder-length hair

    Didn’t want it to affect the film: Kriti on #MeToo allegations against Sajid, Nana

    When you deal with history, difficult to cut things: Kriti on length of ‘Panipat’

    Dia Mirza

    Dia Mirza announces new production house on birthday

  • Lifestyle
    • All
    • Art & Culture
    • Beauty
    • Books
    • Career
    • Eve
    • Fashion
    • Food
    • Health
    • Travel
    • Youth
    Diwali, Deepavali , happy diwali, diwali celebration 2019, diwali 2019, why we celebrate diwali, diwali celebrate

    All You Need To Know about Diwali

    The ‘Deadpool’ creator Liefeld praises “The Night Comes for Us”

    Unilever to continue producing teabags after Sariwangi bankrupt

    Palembang to inaugurate quake-proof bridge next month

    Agrarian Ministry distributes 6.2m land certificates

    Government targets 16.6% tax revenue growth in 2019

    Indonesia’s Largest Fleet Of Taxis Teams Up To Beat Ride-hailing Apps

    BLACKPINK’s Jennie announces release date of solo debut

    Seven workouts scientifically proven to burn the most calories

    Uber’s Turbulent Week: Kalanick Out, New Twist In Google Lawsuit

    Trending Tags

    • Golden Globes
    • Climate Change
No Result
View All Result
  • World
  • Opinion
  • National
  • Politics
  • Business
  • Science
  • Entertainment
    • All
    • Bollywood
    • Hollywood
    • Review
    Jennifer Lopez,Hustlers

    Fan urges flight passengers to watch ‘Hustlers’ to help JLo win at Oscars, she says ‘thank you’

    quentin tarantino,

    Quentin Tarantino gave hint about ‘Kill Bill Vol. 3’

    Virat Kohli , Anushka Sharma, wedding anniversary

    Virushka celebrates second wedding anniversary with heartfelt messages

    Sara Ali Khan,Sara Ali Khan Instagram, Coolie No. 1, Varun Dhawan

    Sara Ali Khan shared picture of herself, wrote sasti Rekha in fiery shayari

    Julia Louis-Dreyfus

    Julia Louis-Dreyfus calls ‘SNL’ environment ‘very sexist’ during her time

    Rebel Wilson

    Rebel Wilson reveals she’s ‘never been drunk’

    Miley cyrus

    Miley gets inked amid Liam Hemsworth divorce

    Deepika Padukone

    Deepika slays in new shoulder-length hair

    Didn’t want it to affect the film: Kriti on #MeToo allegations against Sajid, Nana

    When you deal with history, difficult to cut things: Kriti on length of ‘Panipat’

    Dia Mirza

    Dia Mirza announces new production house on birthday

  • Lifestyle
    • All
    • Art & Culture
    • Beauty
    • Books
    • Career
    • Eve
    • Fashion
    • Food
    • Health
    • Travel
    • Youth
    Diwali, Deepavali , happy diwali, diwali celebration 2019, diwali 2019, why we celebrate diwali, diwali celebrate

    All You Need To Know about Diwali

    The ‘Deadpool’ creator Liefeld praises “The Night Comes for Us”

    Unilever to continue producing teabags after Sariwangi bankrupt

    Palembang to inaugurate quake-proof bridge next month

    Agrarian Ministry distributes 6.2m land certificates

    Government targets 16.6% tax revenue growth in 2019

    Indonesia’s Largest Fleet Of Taxis Teams Up To Beat Ride-hailing Apps

    BLACKPINK’s Jennie announces release date of solo debut

    Seven workouts scientifically proven to burn the most calories

    Uber’s Turbulent Week: Kalanick Out, New Twist In Google Lawsuit

    Trending Tags

    • Golden Globes
    • Climate Change
No Result
View All Result
Afternoon Voice
No Result
View All Result
ADVERTISEMENT

Home > Budget & Policies > Fitch warns of fiscal slippage if govt goes for populist Interim Budget

Fitch warns of fiscal slippage if govt goes for populist Interim Budget

Web Team by Web Team
January 31, 2019
in Budget & Policies, Business
2 min read
0
Share on FacebookShare on Twitter

Ahead of BJP-led NDA government presenting the final budget of its tenure, Fitch Ratings on Thursday warned of a second consecutive year of fiscal slippage in the event of Finance Minister Piyush Goyal resorting to populist spending to win over lost vote base.

The interim budget to be presented on Friday could give some indication of the government’s commitment to fiscal consolidation, which is one of the main sensitivities in the sovereign ratings, Fitch said.

RELATED POSTS

Manufacturing activity growth in India drops to 2-year low last month

Philippines to cancel Landing’s $1.5B casino project

Smelter-grade alumina production reaches 2 million tons: Local firm

“Pressure for new expenditure to attract votes, particularly among rural and small-business owner voters, has increased as polls have shown the ruling Bharatiya Janata Party (BJP) is becoming less assured of victory in the general elections.

“The BJP has reportedly lost votes in some recent state elections due to rural distress and public concerns over job creation. Targeted cash programmes appear the most likely form of support, as they would avoid downside risks of alternatives, such as the farm loan waivers that undermined the loan repayment culture in the past,” it said.

Populist spending, it said, would aggravate fiscal pressures, which are already building due to revenue shortfalls.

“Higher pre-election spending could risk a second consecutive year of fiscal slippage relative to the government’s targets and would further delay plans to reduce the high general government fiscal deficit and debt burden,” it said.

Fitch said longer-term trends are more important to the sovereign rating profile.

“We believe the central government may still be able to meet its fiscal deficit target of 3.3 per cent of GDP for FY19, which would help support its fiscal credibility, although this may be achieved by deferring capital expenditure and postponing bill payments until after March,” it said.

The final budget for the fiscal year ending in March 2020 (FY20) will be presented soon after the next government takes office following general elections, which are due by May 2019.

Revenue from the new GST is well below target, Fitch said citing it as an reason for revenue falling short of the target so far in the current fiscal year that ends on March 31, 2019.

“Officially, the government still aims to adhere to a debt ceiling of 60 per cent of GDP by March 2025, as adopted under the Fiscal Responsibility and Budget Management Act. However, this would require significant and politically difficult fiscal consolidation. The newly elected government’s final budget, likely to be presented around July, should provide more meaningful guidance on the medium-term fiscal outlook,” it said.

Fitch’s base-case scenario is that general government debt will remain close to 70 per cent of GDP in the next few years, and will constrain India’s sovereign rating (BBB-/Stable).

Indian budgets normally offers guidance on plans for structural reforms and tax changes.

“The current government could choose in its interim budget to signal the reform direction it would adopt in a possible second term, but we believe it is more likely to include such plans in the final budget…,” it said.

Tags: BJPBudgetFinance MinisterFitch RatingsGovernmentNDAPiyush Goyal
Share2Tweet1Share1Send
Web Team

Web Team

Related Posts

Manufacturing

Manufacturing activity growth in India drops to 2-year low last month

by Web Team
November 1, 2019

Manufacturing activity in the country continued to weaken in October, with factory orders and production rising at the weakest rates...

Philippines to cancel Landing’s $1.5B casino project

by Afternoon Voice
October 21, 2019

When we get out of the glass bottle of our ego and when we escape like the squirrels in the...

Smelter-grade alumina production reaches 2 million tons: Local firm

by Afternoon Voice
October 20, 2019

Dropcap the popularization of the “ideal measure” has led to advice such as “Increase font size for large screens and...

Government introduces new rules for public university admission

by Afternoon Voice
October 19, 2019

When we get out of the glass bottle of our ego and when we escape like the squirrels in the...

Unilever to continue producing teabags after Sariwangi bankrupt

by Afternoon Voice
October 17, 2019

When we get out of the glass bottle of our ego and when we escape like the squirrels in the...

Next Post
Mamata is a good administrator, has all capabilities to lead the country: Kumaraswamy

Have trust in me: HD Kumaraswamy

L&T Hydrocarbon Engineering bags two orders from Indian Oil Corp

L&T Hydrocarbon Engineering bags two orders from Indian Oil Corp

RECOMMENDED

fraud call center, tardeo police station, police station, tardeo

Police bust call center racket, arrest 9

December 13, 2019
Assad and Kurds

Assad and Kurds can peacefully co-exist

December 13, 2019
Bullet train: When would land acquisition start in Thane? HC asks NHSRCL, Collector

India needs Bullet Train

December 13, 2019
letters to the editor, afternoon voice,

Letters to the Editor: 13 December, 2019

December 13, 2019
blood stains,blood, stains,stabbed , murder, knife, stab,murdered

Woman stabbed multiple times by ex-lover after a day she married another man

December 13, 2019
  • 58 Followers
  • 21.1k Followers
  • 27.7k Subscribers
  • 662 Followers
  • 21.9k Followers
ADVERTISEMENT
Afternoon Voice

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

CATEGORY

  • Disclaimer
  • Privacy Policy
  • About Us
  • Contact Us
  • Support Parallel Media

SITE LINKS

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org
  • Disclaimer
  • Privacy Policy
  • About Us
  • Contact Us
  • Support Parallel Media

© 2019 Afternoon Voice. City News, Breaking News, Sports News, Videos and More. All rights belong to their respective owners.

No Result
View All Result
  • Homepages
    • Homepage Layout 1
    • Homepage Layout 2
  • Politics
  • World
  • Business
  • Science
  • National
  • Entertainment
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food

© 2019 Afternoon Voice. City News, Breaking News, Sports News, Videos and More. All rights belong to their respective owners.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.