Government spending Current Affairs, GK & News
Rating agency CRISIL has slashed India’s growth forecast to 5.5%. It is the second cut for fiscal 2013 estimate. Earlier, the agency had cut GDP growth to 6.5%. Deficient rainfall and worsening Eurozone situation are the main causes behind the decline. As per CRISIL, the sluggish growth is expected to put pressure on government finances. ..
India’s fiscal deficit reached almost 71% of its full-year target in the first half of the year, casting doubts over its ability to meet budget goals as central finances feel the pressure of squeezed revenues and slowing growth. India’s fiscal deficit from April to September was Rs 2.92 lakh crore ($60.1 billion),71% of the Rs ..
Category: Government Schemes Current Affairs
Topics: Deficit • Economies • Economy of India • Fiscal • Fiscal Responsibility and Budget Management Act • Fourteenth Finance Commission • Government budget balance • Government spending • United States fiscal cliff
Recently, RBI said that it expects economic growth to moderate to 8% or below in 2011-12 due to global uncertainty and rising interest rates. The central bank also expects inflation to be high for most of the year. Economic growth will moderate to 8% or below in 2011-12 because of global uncertainty and rising interest ..