High fiscal deficit inevitable, says government

September 23rd, 2009 KOLKATA - Finance Minister Pranab Mukherjee Wednesday said the government planned to scale down fiscal deficit to 4 percent by 2012. "We should try to bring down the fiscal deficit to 5 percent in 2011 and 4 percent by 2012," Mukherjee said in an address at the 155th annual general meeting of the Bengal Chamber of Commerce and Industry here.

August 24th, 2009 Indo-ASIAN NEWS SERVICE NEW DELHI - India's fiscal deficit this year will not exceed 6.8 percent, Planning Commission Deputy Chairperson Montek Singh Ahluwalia said here Monday. "Deficit will not be more than 6.8 percent in the current fiscal,” Ahluwalia told reporters here.

July 21st, 2009 Guthrie ends fiscal year with slight deficitMINNEAPOLIS — The Guthrie Theater in Minneapolis is reporting its first deficit in 14 years as the recession took its toll on the box office, fundraising and endowments. The Guthrie had an operating deficit of $67,000 for the fiscal year that ended March 31.

July 15th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Wednesday told the Rajya Sabha that the result of the stimulus measures have started showing results with recovery in many sectors. "The stimulus measures have started yielding results and I must say it is visible but it is slow, the minister said in his reply during the debate on the national budget in the Rajya Sabha, the upper house of the parliament.

July 15th, 2009 NEW DELHI - The government Wednesday ruled out rollback of tax cuts offered to various sectors as part of the fiscal stimuli announced earlier and said it intends to bridge the fiscal deficit largely through internal resource mobilisation. "The economy is slowly reviving.

July 14th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Tuesday said high borrowings of the government and large fiscal deficit were inevitable in the national budget given the need to push economic growth and allocate more funds for welfare programmes. "I had to take this risk.

July 14th, 2009 NEW DELHI - The government is determined to bring the fiscal deficit under control, Planning Commission Deputy Chairman Montek Singh Ahluwalia said here Tuesday. Addressing economists at a seminar organised by the India Policy Forum, he said the fiscal stimulus provided by the government had put a burden on the deficit but the package was necessary in the given economic scenario.

July 11th, 2009 KOLKATA - The Communist Party of India-Marxist (CPI-M) Saturday cautioned against raising funds through divestment of profitable state-run units to finance the fiscal deficit, terming this disastrous. "The corporate world is not entirely happy with the proposals in the union budget.

July 6th, 2009 NEW DELHI - Union Finance Minister Pranab Mukherjee on Monday said that the fiscal deficit as a percentage of GDP is projected at 6.8 per cent as compared to 2.5 per cent of the Budget Estimates (BE) for 2008-09 and 6.2 per cent as per the provisional accounts of 2008-09. Presenting the General Budget for 2009-10 in Lok Sabha on Monday, Mukherjee assured that government would address the issue properly to come back to the path of fiscal consolidation, as this level of deficit was a matter of concern.

July 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee Monday said recovery of Indian economy in the current fiscal would be difficult unless there were visible improvements in the global economic scenario. Speaking to a television channel after presenting the union budget for 2009-10, Mukherjee said the economy would likely recover in the third quarter of 2009-10, but if the western economies did not improve, we will take a longer period.

June 28th, 2009 NEW DELHI - The government can raise about Rs.80,000 crore ($16.6 billion) by divesting stake in public sector units, says an industry lobby report. "Dilution of stake in leading public sector units alone could fetch at least Rs.80,000 crore," the report by Associated Chambers of Commerce and Industry (Assocham) said, adding that this amount could be used to bring down the fiscal deficit burden.

April 1st, 2009 NEW DELHI - India is in a better situation than any other country in the world when it comes to fiscal deficits and beating the slowdown, Science and Technology Minister Kapil Sibal said here Wednesday. Speaking at a CNBC seminar on Impact of Polls on Markets, Sibal said: 'I feel that we are in much better situation compared to other countries.

March 13th, 2009 BEIJING - China's fiscal deficit is manageable, Premier Wen Jiabao said here Friday. While meeting the press after the annual parliament session, Wen said that his judgement was based on the Chinese government's continuous efforts to cut its deficit in the past few years.

February 21st, 2009 NEW DELHI - India’s consolidated fiscal deficit may increase to 10.3 percent of gross domestic product (GDP) this fiscal and 10 percent the next year, according to an estimate by global investment bank Goldman Sachs. 'We do not think that the deficit will come down substantially over the next few years,' Tushar Poddar, economist with Goldman Sachs, said in a statement.

February 19th, 2009 NEW DELHI - India’s consolidated fiscal deficit may increase to 10.3 percent of gross domestic product (GDP) this fiscal and 10 percent the next year, according to an estimate by global investment bank Goldman Sachs. 'We do not think that the deficit will come down substantially over the next few years,' Tushar Poddar, economist with Goldman Sachs, said in a statement.