Government aiming to bring fiscal deficit down to 4 percentSeptember 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.
Fiscal deficit won't exceed 6.8 percent, asserts AhluwaliaAugust 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.
India's economy to grow by 7 percent: MinisterJuly 21st, 2009 NEW DELHI - India's economy is expected to grow at around 7 percent this fiscal, Minister of State for Finance Namo Narain Meena said in the Rajya Sabha Tuesday. "As per the Economic Survey for 2008-09 and assuming the monsoon would be normal, India's gross domestic product (GDP) is expected to grow at around 7 percent in the fiscal 2009-10," Meena said.
Stimulus measures showing results, says MukherjeeJuly 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.
Fiscal deficit to be brought under control: AhluwaliaJuly 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.
High borrowings, deficit inevitable to push growth: MukherjeeJuly 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.
Mukherjee says Govt. to strive hard to bring down fiscal deficitJuly 7th, 2009 NEW DELHI - The government on Tuesday reiterated its commitment to come back to the higher growth path as fast as possible. Speaking at an interactive session with industry leaders in New Delhi, Finance Minister Pranab Mukherjee said that the growth has to be inclusive and not only in statistical terms.
Fiscal deficit projected at 6.8 percent of GDP in 2009-10July 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.
Recovery dependent on global turnaround: MukherjeeJuly 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.
India's increased spending will inflate budget deficit to 6.8 percent of GDP, worrying marketsJuly 6th, 2009 To spur growth, India sees budget deficit growingMUMBAI, India — Aiming to revive economic growth, India's government said Monday increased spending in its new budget would inflate the fiscal deficit to 6.8 percent of the country's gross domestic product. Stocks plunged on concerns about a ballooning budget deficit and disappoinment that Finance Minister Pranab Mukherjee stopped short of annoucing any new liberalization measures.
Rs. 1,86,000 crore worth fiscal stimulus to counter global slow downJuly 6th, 2009 NEW DELHI - Finance Minister Pranab Mukherjee on Monday said that the Government has taken several measures to counter the negative fall-out of the global slow down on the Indian economy. Presenting the budget for 2009-10, Mukherjee said: Firstly, the Government responded by providing three focused fiscal stimulus packages in the form of tax relief to boost demand and increased expenditure on public projects to create employment and public assets.
Mukherjee to state finance ministers: Find ways to bring economy on higher growth pathJune 11th, 2009 NEW DELHI - Union Finance Minister Pranab Mukherjee today appealed to find ways to bring the economy on the higher growth path without increasing fiscal deficit. Addressing a conference of state finance ministers as part of a pre-budget here, Mukherjee said the Central Government would focus on infrastructure, agriculture and employment generating sectors to promote growth and protect jobs.
India needs sustainable stimulus, growth forecast 5 percent: ADBMarch 31st, 2009 MANILA - India's economic growth will slow to 5 percent in 2009, and authorities should adopt more sustainable stimulus plans to ensure long-term inclusive growth, the Asian Development Bank (ADB) said in its annual economic forecast report released here Tuesday. The Manila-based regional lender said that the fiscal stimulus measures the Indian government announced between December 2008 and February 2009 should allow India's growth to rise to 6.5 percent in 2010.
India second fastest growing economy: Pranab MukherjeeFebruary 15th, 2009 NEW DELHI - Despite the global economic slowdown, India is the second fastest growing economy in the world and has recorded a sustained growth of over 9 percent for three consecutive years for the first time, External Affairs Minister Pranab Mukherjee said Monday. Presenting the interim budget in the Lok Sabha, Mukherjee said the gross domestic product (GDP) has increased by 7.5 percent, 9.5 percent, 9.7 percent and 9 percent, respectively, in the four fiscal years between 2004-05 and 2007-08.
Pakistan's economy improved in first quarter: Central bankDecember 29th, 2008 ISLAMABAD - Pakistan's economy improved during the first quarter of the current fiscal, as did some macro-economic indicators that had steeply fallen in 2007-08, the State Bank of Pakistan (SBP) has said. In its first quarterly (July-Sep) report, the SBP expressed the hope that economy would stabilise despite lower than expected growth.
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