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The wholesale price index of India also witnessed large fluctuations between 13% in August 2008 to 0% in March 2009. The fiscal deficit of Indian government had gone up to 6.1% in March 2009. [ 1 ] The budget was preceded by an interim budget by Pranab Mukherjee on 16 Feb 2009.
The Fiscal Responsibility and Budget Management Act, 2003 (FRBMA) is an Act of the Parliament of India to institutionalize financial discipline, reduce India's fiscal deficit, improve macroeconomic management and the overall management of the public funds by moving towards a balanced budget and strengthen fiscal prudence.
The Union Budget of India, also referred to as the Annual Financial Statement in Article 112 of the Constitution of India is the annual budget of the Republic of India set by Ministry of Finance for the following financial year, with the revenues to be gathered by Department of Revenue to identify planned government spending and expected government revenue and the expenditures gathered by ...
A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.
The United States has just logged its biggest budget deficit year in history.The nation posted a $46.6 billion deficit for September, and a record $1.42 trillion deficit for the 2009 fiscal year ...
India's nominal growth projection and fiscal deficit target for 2020-21 will be challenging to achieve, a Moody's analyst said on Saturday, after the government presented the union budget to boost ...
In a disappointing start to the federal government's new fiscal year, the nation posted a higher-than-expected $176.4 billion budget deficit for October, the Treasury Department announced Thursday ...
26 July – India launches its first nuclear submarine, the INS Arihant. [27] 6 August – An Indian court sentences to death three people for carrying out bombings that killed more than 50 people in Mumbai in 2003. [28] [29] 11 August – 2009 Andaman Islands earthquake: A 7.5 magnitude earthquake occurs in the Andaman Islands of India. No ...