N.R. Bhanumurthy, professor of economics at the National Institute of Public Finance and Policy, said the 3.2% fiscal deficit target was estimated in a business-as-usual scenario. "It is hard to estimate the impact of additional borrowing on fiscal deficit since revenue mobilization is now in an uncertain territory", he added.
Saugata Bhattacharya, chief economist, Axis Bank, said, "Market borrowing is only a part, we have to see how much is the corpus in various small savings schemes".
The Government on Wednesday chose to make additional market borrowing of only 50,000 crore in the remaining period of the current fiscal year to meet expenditure, confirmed SC Garg, Secretary of Department of Economic Affairs (DEA).
After the announcement, experts assessed that India's fiscal deficit for the ongoing financial year could move up to 3.5 per cent compared to the budgeted 3.2 per cent.
Announcing the calendar, a finance ministry release said, "The borrowing programme of the Government of India has been reviewed, with RBI, and following decisions taken: (i) The Government will trim down the T-Bills from present collections of Rs 86,203 crore to Rs 25,006 crore by March end, 2018".
T-bills are securities with short-term duration of less than one year while dated securities have longer maturity. The government will be borrowing Rs 1.79 lakh crore (gross) in the last quarter of FY18 through 91-day, 182-day and 364-day T-Bills.
Bernstein Reaffirms "Buy" Rating for Mastercard (NYSE:MA)
The firm has "Buy" rating by Axiom Capital given on Friday, November 13. (NASDAQ:FB) on Thursday, November 2 with "Buy" rating. Another trade for 16,298 shares valued at $2.75 million was sold by FISCHER DAVID B. $109.70 million worth of Facebook, Inc.
The obvious reason for the decline in GST collection is the reduction of items in the high tax bracket of 28 per cent to lower levels.
It further said notwithstanding bank recapitalisation, the sell off in G-secs is delaying lending rate cuts and pushing back recovery. Total collections under the GST in November slipped for the second straight month to Rs 80,808 crore, down from Rs 83,346 crore in the previous month.
In April-October, the fiscal deficit scaled 96.1% of the fiscal deficit targeted for the full year against 79.3% during the same period a year ago due to higher revenue expenditure, according to data from the Controller General of Accounts.
"While we did not expect any breach in the FY2017-18 fiscal deficit target, we will wait for clarity about whether this additional borrowing will make up for revenue shortfalls or fund relaxation of the 3.2 per cent of GDP FY18 fiscal deficit target", the report noted.
Finance Minister Arun Jaitley had earlier budgeted to raise Rs 5.8 lakh crore ($90.45 billion) in 2017-18 via bond sales to bridge the fiscal deficit of 3.2 per cent of GDP. "As against the budgeted net T-bills receipt of Rs 2,002 crore in FY18, net collections till December 26, 2017, are Rs 86,203 crore". Consequently, the G-Sec auction size has increased to Rs 15,000 crore for the last five auctions of FY2018.
The ratio is better, as 181 funds opened new or increased equity positions, while 173 cut down and sold stakes in Ingredion Inc. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock.
Met Eireann said in a statement: "Frost and icy conditions will develop again this evening across much of Leinster and Ulster". Temperatures of between three and seven degrees are expected during the day before plummeting to below zero by nightfall.
But Weah wasted no time in acknowledging his win. "My fellow Liberians, I deeply feel the emotion of all the nation", he tweeted. She drew a line under years of civil war, but was criticised for failing to root out corruption or persistent poverty.
Albion held Chelsea to a first-half draw as the teams met competitively for the first time since 1989. We never want to concede that early in a second half but I thought we gathered ourselves after that.
I think it was a good first match of the season. "I want to be competing hard and trying to win the Australian Open in January". Open and dropped to 16th in the world rankings. "So, it would be a good way to return for both these players ", said Anderson.
He explained that finding a solution to the conflict would be very hard if China meant to support North Korea's trade on the sly. Also Thursday, Trump sought to remind the world that he's long warned about the dangers posed by North Korea's nukes.
Sun Life Finance stated it has 0.04% in McKesson Corporation (NYSE:MCK). ( NASDAQ:SNPS ), 6 have Buy rating, 1 Sell and 2 Hold. State Board Of Administration Of Florida Retirement System stated it has 0.54% in Amgen Inc . (NASDAQ:AMGN) or 19,682 shares.
The safe unit also had similar issues and the company had no option but to recall and discontinue the device. In the video, he explains that he has tried a few things to see if the phone turns on, including a reset.
Diversified Investment Strategies Llc holds 4.52% of its portfolio in Cal-Maine Foods, Inc. for 113,875 shares. The sales growth quarter on quarter is at -3.20% while the total number of outstanding shares are at 1474.98.
But stocks of all petroleum products, including diesel, jet fuel and propane, as well as crude, fell by 8.8 million barrels. Production edged lower in the most recent week, dropping to 9.75 million bpd, down from 9.79 million bpd a week earlier.
Oppo and Vivo captured fourth and fifth position in the global handset profit share due to their excellent performance in China. Apple continues to dominate the global smartphone profits in the third quarter of 2017, market research firm Counterpoint said.
Moto G5s Plus gets a price cut, now available for Rs 14999
The Moto G5S Plus is available exclusively on Amazon India and Moto Hub stores, in Lunar Grey and Blush Gold colour options. The phone comes with all-metal unibody build and features water-repellent nano-coating to protect the phone against spills.
Asteroid To Skim Earth at 0.58 LD on December 28
On Christmas Day, astronomers at the Mount Lemmon Survey near Tucson, Arizona, discovered an asteroid fast approaching Earth. Images from the Arecibo Observatory in Puerto Rico show a massive space rock's close approach to Earth on December 16.
When will Doug Jones be sworn in to the US Senate?
Moore said that the results show "that I did not know, nor had I ever had any sexual conduct with any of these individuals". The special election was held to replace Jeff Sessions, who left the Senate to serve as President Trump's attorney general.
Why Californians may not be able to get property tax break
But that hasn't stopped people - those with the ability to come up with a few thousand dollars on short notice - from trying. Davis said people who do prepay should do so as soon as possible so payments are processed by the new year.
Monterey County sees first flu death of season
This is up for 91 laboratory-confirmed cases with 26 hospitalizations and one death at the same time previous year . For up to date information on the flu in the state, visit the Pennsylvania Department of Health's flu website.