• Latest
  • Trending
Fiscal situation should be comfortable next financial year: Jaitley

Fiscal situation should be comfortable next financial year: Jaitley

February 10, 2018
First shipment of Moderna vaccine for USFK to arrive Friday: sources

First shipment of Moderna vaccine for USFK to arrive Friday: sources

December 24, 2020
Why North Korea’s Mount Kumgang resort will be ‘envied by the world’

Why North Korea’s Mount Kumgang resort will be ‘envied by the world’

December 23, 2020
China & the West: the New Knowledge War

China & the West: the New Knowledge War

December 23, 2020
Zulkifli: COVID-19 vaccine is permissible

Zulkifli: COVID-19 vaccine is permissible

December 23, 2020
Bangkok schools closed for 12 days to contain outbreak

Bangkok schools closed for 12 days to contain outbreak

December 23, 2020
Hubble telescope gives closer look at rare asteroid worth $10,000,000,000,000,000,000

Hubble telescope gives closer look at rare asteroid worth $10,000,000,000,000,000,000

October 30, 2020
Swedish Defense Bill Extends Gripen, Adds New AEW Aircraft

Swedish Defense Bill Extends Gripen, Adds New AEW Aircraft

October 19, 2020
Bulgaria protests enter 100th consecutive day as demonstrators denounce widespread corruption

Bulgaria protests enter 100th consecutive day as demonstrators denounce widespread corruption

October 18, 2020
UK’ Sixth-Gen Fighter Jet Will Infuse £25 Billion, 20,000 Jobs Into The British Economy

UK’ Sixth-Gen Fighter Jet Will Infuse £25 Billion, 20,000 Jobs Into The British Economy

October 18, 2020
Japan may skip meeting with S. Korea and China

Japan may skip meeting with S. Korea and China

October 14, 2020
China’s human rights record slammed after UNHRC reelection

China’s human rights record slammed after UNHRC reelection

October 14, 2020
loyalists and reformists clash over Thailand’s monarchy and the ‘playboy’ Rama X

loyalists and reformists clash over Thailand’s monarchy and the ‘playboy’ Rama X

October 14, 2020
Friday, February 26, 2021
Sajja News
No Result
View All Result
  • Asia News
    • China
    • North Korea
  • World News
    • Africa
    • Canada
    • Europe
    • Latin America
    • Middle East
    • Russian Federation
    • United Kingdom
    • United States
  • National Security
    • Cyber Security
    • Military
    • Terrorism
      • Islamic State
    • Politics
      • Democracy
      • Free Speech
  • Business
    • Economy
    • Free Market
  • Science
    • Technology
  • Culture
    • Art
    • Books & Literature
    • Education
    • Family
    • Food & Drink
    • Health
    • History
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Travel
    • Women & Children
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • Olympics
    • Football
    • Tennis
    • Water Sports
  • Environment
    • Agriculture
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Asia News
    • China
    • North Korea
  • World News
    • Africa
    • Canada
    • Europe
    • Latin America
    • Middle East
    • Russian Federation
    • United Kingdom
    • United States
  • National Security
    • Cyber Security
    • Military
    • Terrorism
      • Islamic State
    • Politics
      • Democracy
      • Free Speech
  • Business
    • Economy
    • Free Market
  • Science
    • Technology
  • Culture
    • Art
    • Books & Literature
    • Education
    • Family
    • Food & Drink
    • Health
    • History
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Travel
    • Women & Children
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • Olympics
    • Football
    • Tennis
    • Water Sports
  • Environment
    • Agriculture
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
No Result
View All Result
Sajja News
No Result
View All Result

Fiscal situation should be comfortable next financial year: Jaitley

February 10, 2018
in Business, Economy
0
Home Business
Post Views: 186

 

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 immediate 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.

Source :
asian age
Tags: businesscomfortableEconomyFinancialfiscalsituation
ShareTweetShare
Next Post
Volatility in Indian markets may continue for some time: Sebi

Volatility in Indian markets may continue for some time: Sebi

Translate

Popular Post

First shipment of Moderna vaccine for USFK to arrive Friday: sources
Asia News

First shipment of Moderna vaccine for USFK to arrive Friday: sources

December 24, 2020
0

  U.S. Forces Korea (USKF) is expected to receive the first shipment of Moderna's coronavirus vaccine Friday, sources said. The...

Read more
Top palm oil producer sues green group over deforestation allegations

Sobeys $2B loss a sign of hotly competitive market, says analyst

October 5, 2017
Top palm oil producer sues green group over deforestation allegations

Blurred Lines — China’s competition with US resembles low-level warfare: Gertz

October 5, 2017
Top palm oil producer sues green group over deforestation allegations

German businesses face rising threat of industrial espionage

October 5, 2017
Top palm oil producer sues green group over deforestation allegations

Top palm oil producer sues green group over deforestation allegations

October 5, 2017
  • About Us
  • Creative Commons
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions
  • Contact Us

Topics

Follow Us

About Us

Sajja News is part of Sajja News Media Group LLC, which delivers daily news around the globe.

© 2011 Sajja News

No Result
View All Result
  • Asia News
    • China
    • North Korea
  • World News
    • Africa
    • Canada
    • Europe
    • Latin America
    • Middle East
    • Russian Federation
    • United Kingdom
    • United States
  • National Security
    • Cyber Security
    • Military
    • Terrorism
      • Islamic State
    • Politics
      • Democracy
      • Free Speech
  • Business
    • Economy
    • Free Market
  • Science
    • Technology
  • Culture
    • Art
    • Books & Literature
    • Education
    • Family
    • Food & Drink
    • Health
    • History
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Travel
    • Women & Children
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • Olympics
    • Football
    • Tennis
    • Water Sports
  • Environment
    • Agriculture
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species

© 2011 Sajja News