Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
August 16, Thursday 2018 9:25 AM       

       HEADLINES: Stranded girl seeks help via Facebook                                              Let contentious issues, extraneous debates not distract us: Prez's I-Day message to the nation                                              Modi says corrupt, black money hoarders will not be spared                                              ‘Sleeping elephant’ woke up, India to lead world growth for three decades: PM Modi                                              Scotland Yard returns 12th century stolen Buddha statue to India on I-Day                                              Trump Tower operators sued over water release into river                                              Anger grows in Italy as bridge toll rises to 38                                              Former India captain Ajit Wadekar no more                                              Kaumudi Facebook
       BUSINESS Next Article: Ericsson confirms 5G readiness for operators  
       Fiscal situation should be comfortable next financial year: FM
 
         Posted on :22:07:31 Feb 10, 2018
   
A A
       Last edited on:22:07:31 Feb 10, 2018
         Tags: Fiscal situation ,2018-19 better, Arun Jaitle
 

NEW DELHI: Finance Minister Arun Jaitley on Saturday exuded confidence that there will be no more fiscal slippages as the financial position is likely to be comfortable from the next fiscal.

Brushing aside any need to worry about rising global oil prices, Jaitley said an assessment should not be made based on hypothetical situation concerning crude prices as the trend in the last three days has been the opposite (with prices falling again).

He added that at this stage he was not worried about any slippages on the fiscal front.

Addressing a press conference after meeting RBI's board in a customary post-Budget exercise, Jaitley also said that the last decision of the Monetary Policy Committee, chaired by RBI Governor Urjit Patel, to keep interest rates unchanged was a "balanced decision."

"... as far as fiscal situation is concerned, I see next year to be more comfortable as far as revenues are concerned.

I cannot see at this stage that there would be any slippages," he said.

The finance minister in Budget 2018-19 projected a higher fiscal deficit of 3.5 per cent of the GDP for the current fiscal, as against the target of 3.2 per cent, on account of GST implementation and deferment of spectrum auction.

The fiscal deficit or gap between total expenditure and revenues has been pegged at 3.3 per cent for the next fiscal as against the Fiscal Responsibility and Budget Management (FRBM) Act mandate of 3 per cent.

With regard to the Budget proposal of fixing the minimum support price (MSP) of kharif crops at least 1.5 times that of the cost of production, Jaitley said the issue was discussed in this meeting because it takes place in the light of the Budget.

"How to implement this and what impact it can have on farmers, commodity prices and export competitiveness, all these issues were discussed. It was an academic discussion," he said.

With regard to long-term capital gains tax, the finance minister said it was not part of this meeting but was discussed in Sebi's board meeting.

Asked about the rate transmission by the banks, Patel said one of the banks reduced its Marginal Cost of funds-based Lending Rate (MCLR) two days ago.

"In terms of transmission if you measure since the easing cycle started by MPC and you compare the MCLR now actually there has been good transmission. Actually what happened was that transmission came late and I must admit that some of the transmission came after demonetisation because we had a financial intermediation taking place in the system," he said.

A A
       BUSINESS
Next Article: Ericsson confirms 5G readiness for operators
 
 
BUSINESS HEADLINES
Comfortable forex reserves to deal with undue Re volatility: Jaitley  
Positive growth in steel sector, trend to continue: Tata Steel  
Global Indian Solutions to address $900B NRI assets market in India  
DLF to offer only completed flats; to remove delivery uncertainty  
Adani walks away with gas rights for 21 cities; BPCL bags 11 cities  
India Cements Q1 net profits slips to Rs 21.03 cr  
Microsoft boss Nadella rakes in USD 35 million in share sale  
Odisha likely to put up 18 mines for auction this year: Mukim  
Erdogan says Turkey 'won't lose economic war' after lira crash  
Odisha likely to put up 18 mines for auction this year: Mukim  
US dollar ends sharply higher against rupee  
"Ligne Roset" is all set to cover North Indian market through India's premium furniture brand IOTA  
JP Morgan-CIIE to set up Financial Inclusion Lab  
Adani Power net loss widens to Rs 825 cr in Apr-Jun qtr  
Ola to launch its UK operations with ride-sharing offerings in South Wales, Greater Manchester  
Indra Nooyi to step down as PepsiCo CEO  
Paper Industry aims to rectify misconceptions about paper usage  
Sensex hits record high, Nifty breaches 11,400 mark  
GST slabs may reduce to 3 in long-term: Sanjeev Sanyal  
Lankan govenment reworking MoU on airport deal with India  
Indian carriers need $50 bn to buy planes over 10 yrs: Report  
GST slabs may reduce to three in long-term: Sanjeev Sanyal  
Goibibo now enables users to login via WhatsApp  
Jet Airways slumps 6% in morning trade on bourses  
Indian Bank revises interest rates on FCNR(B) deposits  
 
Do you think people took lightly government's warnings in flood-prone areas?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy