India's government is likely to cut spending for the current fiscal year by...
NEW DELHI - India’s government is likely to cut spending for the current fiscal year by as much as 2 trillion Indian rupees as it faces one of the biggest tax shortfalls in recent years, three government sources said.
But with a revenue shortfall of about 2.5 trillion rupees, the government has little choice to keep its deficit within “acceptable limits”, the first official, who did not want to be named, told Reuters. Lack of demand and weak corporate earnings growth in the economy led to lagging tax collections this year. Analysts said growth will be hurt.
Now, even the Reserve Bank of India seems to have become more worried about inflation rising. It kept its key lending rate on hold on December 5, even though it slashed its growth forecast for the current fiscal to 5%, which would be the lowest in a decade.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Protests in India after attack on university studentsA Hindu nationalist group is blamed for attacking students of Jawaharlal Nehru University amid protests against PM Modi's new citizenship law.
Consulte Mais informação »
Children's death toll at government hospital in north India rises amid nationwide outcryLocal authorities scrambled to bring in additional staff and equipment at a government hospital in northern India where scores of children have died, amid a social media firestorm about the deplorable state of many healthcare facilities by AbhirupRoy30
Consulte Mais informação »
Amazon's India business is getting an offline boostAmazon is enlisting one of India's biggest retailers to bulk up its offline business and fend off a challenge from the country's richest man in the online space.
Consulte Mais informação »
Trump handed big business a massive tax cut, and all he got in return was embarrassment - Business InsiderPresident Trump and the GOP promised their tax cuts would drive business investment and economic growth. Instead, companies kept the windfall.
Consulte Mais informação »
U.S. EPA to advance plan to cut heavy-duty truck emissionsThe U.S. Environmental Protection Agency (EPA) will announce Monday it is seekin...
Consulte Mais informação »