Top Tweets for #Fiscal_Deficit
🚨 Fiscal Policy Change !
Gradually, the GoI 🇮🇳 is moving towards anchoring its fiscal policy to #Debt_to_GDP Ratio instead of the current #Fiscal_Deficit (FD) to match the global standards. 📊📈📉
Reasons sighted for this are long-term sustainability (instead of short-term, rigid targets for overall better financial management), targeted reduction approach, operational flexibility, growth focused consolidation.
The Govt. has already achieved its medium-term FD target this FY. The new target for the next FY stands at 4.3% of GDP, in sync with the aim of bringing down the overall Debt ratio. Union Government has set medium-term goal for Debt_to_GDP ratio at 50% ±1% of gdp by March 2031. Current ratio stands at 56.1 % (2025-26 RE), down from 59.2% (2021-21). Means, approx. a 1% point reduction in the ratio per year till 2031.
Taking lessons from the Union, the States should prepare their own fiscal consolidation path in a target-oriented manner. Without States' cooperation, Centre can do little because, at last, what matters is the overall General Govt. debt profile. States account for a significant share in that.
Focus should be on improving the quality of spending. Decrease the revenue expenditure & increase the CAPEX as a %age of GDP, rest all will fall in line over time. This change of policy framework will compliment the Govt. to balance the fiscal consolidation with the investment needs in a growing economy like India.
#Budget2026 #Economic_Survey
India's 🇮🇳 Fiscal Deficit (वित्तीय घटा) scenario :
The Union Budget 2021-22 📊📉📈 advocated for a "medium-term glide path" strategy for financial management, where instead of setting annual targets to control the #Fiscal_Deficit (FD), a target was set for the next 4-5 years to be achieved. This was done to ensure that growth-enhancing expenditure, esp. the CAPEX, was not compromised.
Consequently, the target was set to bring the FD below 4.5% of GDP by FY 2025-26. And, we are almost there to achieve it 🎯. As per the official Revised estimates (RE), the FD for 2025-26 is Estimated to be 4.4%.
Credit to @FinMinIndia.
HOW this was achieved ?
Centre' revenue receipts significantly strengthened, rising from an avg. 8.5% of GDP in the pre-pandemic period (FY16-FY-20) to around 9.1% in post-pandemic years (FY22-FY25). It was driven mainly due to buoyant #direct_tax collections, tax reforms, technology-enabled compliance, increased formalization, improved corporate profitability. Wrt Indirect taxes, GST collections recorded multiple all-time highs, recent GST rationalization reforms.
On the expenditure side, Revenue exp. has been brought down from about 13.6% of GDP in FY22 to 10.9% in FY25. CAPEX increased from avg. 1.7% of GDP (pre-pandemic period) to approx. 3% post pandemic. Effective CAPEX reached 4% in FY25. Additionally, subsidy rationalization (reduced leakages via DBT), Just-in-Time (JIT) fund releases complimented the efforts.
The FD has now been brought within the manageable limits. Achieving #Fiscal_consolidation and ultimately #Fiscal_prudence is a tough task in an economy with a 1.5 bn. population and where schemes and freebies are seen as an easy bait to garner votes ! ©
#Economic_Survey #UnionBudget #BudgetSession2026
India's 🇮🇳 Fiscal Deficit (वित्तीय घटा) scenario :
The Union Budget 2021-22 📊📉📈 advocated for a "medium-term glide path" strategy for financial management, where instead of setting annual targets to control the #Fiscal_Deficit (FD), a target was set for the next 4-5 years to be achieved. This was done to ensure that growth-enhancing expenditure, esp. the CAPEX, was not compromised.
Consequently, the target was set to bring the FD below 4.5% of GDP by FY 2025-26. And, we are almost there to achieve it 🎯. As per the official Revised estimates (RE), the FD for 2025-26 is Estimated to be 4.4%.
Credit to @FinMinIndia.
HOW this was achieved ?
Centre' revenue receipts significantly strengthened, rising from an avg. 8.5% of GDP in the pre-pandemic period (FY16-FY-20) to around 9.1% in post-pandemic years (FY22-FY25). It was driven mainly due to buoyant #direct_tax collections, tax reforms, technology-enabled compliance, increased formalization, improved corporate profitability. Wrt Indirect taxes, GST collections recorded multiple all-time highs, recent GST rationalization reforms.
On the expenditure side, Revenue exp. has been brought down from about 13.6% of GDP in FY22 to 10.9% in FY25. CAPEX increased from avg. 1.7% of GDP (pre-pandemic period) to approx. 3% post pandemic. Effective CAPEX reached 4% in FY25. Additionally, subsidy rationalization (reduced leakages via DBT), Just-in-Time (JIT) fund releases complimented the efforts.
The FD has now been brought within the manageable limits. Achieving #Fiscal_consolidation and ultimately #Fiscal_prudence is a tough task in an economy with a 1.5 bn. population and where schemes and freebies are seen as an easy bait to garner votes ! ©
#Economic_Survey #UnionBudget #BudgetSession2026
India's Fiscal Deficit (FD) trajectory as % of GDP & in absolute terms (approx.) 📊📉 :
- 9.2% (2020-21) (₹18.5 lakh cr)
- 6.7% (2021-22) (₹15.9 lakh cr)
- 6.4% (2022-23) (₹17.3 lakh cr)
- 5.6% (2023-24) (₹16.53 lakh cr) (PA)
- 4.8% (2024-25) (₹15.77 lakh cr) (PA)
- 4.4% (2025-26) (₹15.4 lakh cr) (RE)
- 4.3% (2026-27 TARGET🎯) (₹16.96 lakh cr)
This continuous downward FD trend 📉 is vital in ensuring fiscal consolidation and ultimately fiscal prudence in long run. @FinMinIndia
SOURCE : PIB, CGA (Provisional Account), Economic Survey.
#Economic_Survey #Budget2026 #BudgetSession2026
��� https://t.co/dU6oJ1rijm
📝 Assessing the short-and long-run relationships between fiscal deficit and economic growth in #Morocco
👥 Mohammed Hennach, Abdellah Echaoui
#fiscal_deficit, #economic_growth, #ARDLmodel
��️#RBI_Monetary_Policy on 1st October :
▪︎In my opinion, #RBI WOULD KEEP INTEREST RATES #UNCHANGED AT OCTOBER 1 MEETING.
▪︎But #RBI_Governor #Commentary on the ongoing #Tarriff_War between #India and #US, #inflation, #fiscal_deficit and next #interest_rate_cut
》》》
South Korea proposes a record 8.1% hike in 2026 budget with a big push into AI.
#SouthKorea2026budgetproposal #spending #revenue #treasury_bond_sales #fiscal_deficit #RandDspending #AI_push #US_tariffs #aged_society #low_birthrate
https://t.co/3SyuOXbWO6
Bitcoin to $150K?! Expert's SHOCKING Deficit WARNING!
Watch: https://t.co/zhV11PmRdX
#cryptocurrency #fiscal_deficit #FTX #inflation #Arthur_Hayes #AI #market_analysis #MicroStrategy
🥕 Big Beautiful Bill
Reference: @Presto_Labs on US debt interest exceeding several Federal spending categories
The obvious HTF trades are:
1) short TLT
2) short USD
3) long US yield steepeners
4) long gold
5) long $BTC
#fiscal_irresponsibility #fiscal_deficit
I would like to highlight several critical observations regarding #China's economic indicators that you might find intriguing:
1) China's #fiscal_deficit is around 7% (But let's focus only on the #US)
2) China's Foreign Direct Investment (#FDI) figures may not be accurate. The FDI data in presentations include repatriated investments from #Chinese entities abroad. When these figures are adjusted to exclude such repatriations, the actual FDI appears significantly weaker and has been in the negative territory for several years.
3) In assessing China's total debt, it is essential to note that many fail to include the substantial amount of #debt held by China's Local Government Financing Vehicles (LGFVs), which is estimated at 64 trillion yuan ($8.9 trillion).
4) China's #Current_Account balance portrays a positive image; however, the surplus is diminishing. From a peak Current Account Surplus of 10% of GDP in 2007, it has reduced to approximately 1.8%. With the global economy slowing down, this is about to get worse.
5) A notable discrepancy emerges when comparing the import and export figures with #HongKong reported by the People's Bank of China (#PBOC) and the Hong Kong Monetary Authority (#HKMA), respectively. This variance could significantly enlighten our understanding of trading dynamics and capital flight from China. In 2019, our analysis revealed that approximately 15% of China's total imports originated from Hong Kong, half of which were goods initially exported from China to Hong Kong and then re-imported.
6) Although China reports having $3.2 trillion in foreign exchange (#FX) reserves, the actual liquid FX reserves are approximately $800 billion.
7) Regarding China's GDP, we adopted an alternative methodology to estimate potential deviations. We aimed to determine a more accurate GDP figure by accounting for the real non-performing loans (NPLs) generated. Unlike Western practices, China does not acknowledge "bad" investments to the same extent, often rolling them over indefinitely. This approach results in what should be classified as "expenses" (e.g., loan losses from failed investments) being recorded as "assets" within China's GDP calculations, thereby inflating the reported figure. By adjusting the under-reported NPL figures to align with the world average NPL ratio, our analysis over the past decade indicates that China's GDP has been overstated by approximately 2% annually. This finding is closely aligned with the Brookings Institute's estimate, derived using a completely different methodology.
8) GDP: Official: $18 trillion - Unofficial: $14 trillion
Money Supply (M2): $40 Trillion (to put the number into perspective, the US has a GDP of $28 trillion, M2 of $20 Trillion and no capital controls)
FX Reserves: Total: $3.1 Trillion
Liquid: $800 billion
Banking Assets: $57 Trillion (320% of China's GDP)
Non-Performing Loans (NPLs): No one has a real clue, but if every property developer in China is in default, I am confident that provisions on less than 2% NPLS are not sufficient.
https://t.co/EJbFef8NLX
#China #Yuan #RMB #Debt #RealEstate
China: The Rising Tide of Uncertainty
This article delves into the heart of China's economic challenges - from sky-high debt levels and banking sector woes to the pressing need for a strategic shift in growth strategy.
If I had to put just one chart, this one would be it.
Your thoughts and feedback are greatly welcomed.
https://t.co/yO8VbsX98m
#China #Yuan #RMB #Debt #RealEstate
+
As a result of its fiscal mismanagement, UPA government's #fiscal_deficit ended up being far higher than it had expected, and it subsequently ended up borrowing 27% more from the market than what it had budgeted for in 2011-12
Q1: Any plans to combat record-high #unemployment?
Q2: How will you curb rising #hunger & #malnutrition?
Q3: Solutions for growing farmer #debt & distress?
Q4: How will you tackle the #fiscal_deficit?
A: Bhajan karenge, Bhajan karenge, ho ho Bhajan karenge…
(lovely song, no?)
VIDEO | Uttar Pradesh Finance Minister Suresh Kumar Khanna (@SureshKKhanna) performs puja at his residence in Lucknow before leaving for the state Assembly. He will present the state budget for 2024-25 later today.
National Bank of #Ethiopia publishes Q1 FY22/23 report (Q3 2022). #Fiscal_deficit is 29.7 bn. birr. Noteworthy is the revised data for the previous quarter (Q2 2022) showing a deficit of 30.3 bn. birr, less than half the 67 bn. birr announced previously. https://t.co/GOJqJrtv10
ஏப்., - ஜூனில் மத்திய அரசின் மொத்த வரி வசூ���் 22.4 சதவீதம் உயர்வு! #Fiscal_deficit #FY23 #நிதிப்பற்றாக்குறை https://t.co/BnKvkbK4UY
राज्यों का आर्थिक संकट
दूर करने होंगे राजस्व घाटा व खर्च बढ़ने के कारण
#patrika #rajasthanpatrika #economy #RBI #bankruptcy #fiscal_deficit
@Radhikaskp
लेख पढ़ने के लिए दिए गए लिंक पर क्लिक करें��
https://t.co/ux8aI1MNNu
अर्थतन्त्र
नेपालकाे अर्थतन्त्र द्वय ऋणात्मक #Twin_Deficit रूग्नताले ग्रस्त छ। एकातिर राज्यकोष घाटा #Fiscal_Deficit छ। अर्कोतिर चालु खाता #Current_Account_Deficit छ। त्यसमाथि भिअाईपिहरूकाे फजुल खर्च र भ्रष्टाचारको राशी लेखी साध्य छैन।
@naprasad4441 अर्थतन्त्र
नेपालकाे अर्थतन्त्र द्वय ऋणात्मक #Twin_Deficit रूग्नताले ग्रस्त छ। एकातिर राज्यकोष घाटा #Fiscal_Deficit छ। अर्कोतिर चालु खाता #Current_Account_Deficit छ। त्यसमाथि भिअाईपिहरूकाे फजुल खर्च र भ्रष्टाचारको राशी लेखी साध्य छैन।
भारत सरकार द्वारा FY 22/23 के लिये बजट मे
#Fiscal_deficit का टारगेट है 6.4% है
लैकिन #IMF कहता है भारत का फिस्कल डेफिसिट FY 22/23 में 9.9% रहेगा
यांनी आर्थिक रूप से भारत को ये तकडा झटका है औऱ IMF ने उसमे लि��ा है कि जो ये बढ़ रहा है ये #महँगाई बढने के कारण हो रहा है
@dnetta
#Kenya’s Draft 2022 #Budget Policy Statement shows that the #fiscal_deficit target of 7.4% of GDP in FY2021/22 could be missed. The target has been revised to 8.2% of GDP @PatrickHeinisc1
https://t.co/WbQIXRFNrn https://t.co/p2U0M6WIi9
#Kenya’s Draft 2022 #Budget Policy Statement shows that the #fiscal_deficit target of 7.4% of GDP in FY2021/22 could be missed. The target has been revised to 8.2% of GDP, followed by a more aggressive consolidation path. 2021 GDP growth expected at 6%. Annex @Absa & @KeTreasury:
#Kenya’s Draft 2022 #Budget Policy Statement shows that the #fiscal_deficit target of 7.4% of GDP in FY2021/22 could be missed. The target has been revised to 8.2% of GDP, followed by a more aggressive consolidation path. 2021 GDP growth expected at 6%. Annex @Absa & @KeTreasury:
@IMFnews assesses #Sudan's #poverty reduction strategy paper 2021-23 as „adequate framework“ to curb widespread poverty. 🇸🇩 targets #growth of 3% p.a. over the medium term, a modest #fiscal_deficit & a #current_account deficit below 10% of GDP. https://t.co/aPSAD8Wrsf
हिंदी में एडिटोरियल✍️✍️✍️
Topic: राजकोषीय परिषद (Fiscal council)
For PDF and More ���👉 https://t.co/rAVgXXCjP0
(यूपीएससी, आईएएस, सिविल सेवा और राज्य पीसीएस परीक्षाओं के लिए समसामयिकी)
#राजकोषीय_परिषद #Fiscal_council #FRBM #Fiscal_Deficit
#Fiscal_Policy_Strategy_Statement #FPSS
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