United States fiscal cliff Current Affairs, GK & News

India growth forecast slashed: CRISIL

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. ..

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India’s Fiscal Deficit comforted to 5.7% of GDP in the fiscal 2011-12

As per the estimates issued by CAG on May 31, 2012, the Fiscal Deficit (FD – the difference between the government’s total receipts and expenditure) of India relieved to 5.7% of GDP, lower than 5.9% anticipated in the revised estimates in the Budget 2012. Fiscal Deficit: Rs 5.09 trillion rupees. Tax revenue receipts: Rs 6.31 ..

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India losing Fiscal Deficit Targets

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 ..

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