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Sebi seeks report on action taken by rating firms against IIFL Fin & JM Fin

SEBI seeks explanation from rating agencies, Icra Ratings and Care Ratings, for their inaction following RBI s curbs on IIFL Finance and JM Finance Product. The Reserve Bank of India (RBI) banned IIFL Finance from giving new gold loans on March 4 due to lapses in the lending process, and on March 5, it banned JM Financial Product from undertaking any form of business in shares and bond funding. Curbs on the two high-margin revenue streams are expected to impact the profitability of both companies.

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interim Budget: Budget 2024: Economists say fiscal numbers look more realistic

Analysts and economists praise the interim Budget s fiscal projections, highlighting the government s commitment to fiscal consolidation. The projected fiscal deficit numbers for FY24 and FY25 indicate that the target of 4.5% fiscal deficit by FY26 is achievable. The net market borrowing in FY25 will positively impact the bond market and 10-year G-sec yields. The higher than expected capex and lower fiscal deficit suggest healthier expenditure quality.

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Growth, welfare and fiscal restraint : Experts laud budget, say fulfils aspirations of women, youth and farmers

Growth, welfare and fiscal restraint : Experts laud budget, say fulfils aspirations of women, youth and farmers
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Aayog amitabh kantAmit shahVande bharatYezdi nagporewallaKunwar shekhar vijendraAditi nayarNirmala sitharamanRadhika raoViksit bharatAshish chauhanNational council on educationNational stock exchange of indiaAtamanirbhar technologyExecutive directorChief economic advisorDevendra kumar pant

Economists laud Budget, say fiscal numbers look more realistic

Analysts and economists have hailed the fiscal projections in the interim Budget, saying the lower fiscal deficit forecast shows that the government, even in an election year, is serious about fiscal consolidation and that the numbers look achievable. According to Devendra Kumar Pant, the chief economist at India Ratings, the two broad themes of the interim Budget are fiscal consolidation and stepping up focus on agriculture/rural to course correct, to some extent, the differential benefits of the ongoing economic growth that s tilted in favour of upper-income bracket/urban households. The projected fiscal deficit numbers for FY24 and FY25 suggest that the government is serious about achieving the fiscal consolidation path of 4.5 per cent fiscal deficit by FY26, and given the nominal GDP growth assumption and revenue buoyancy, the target appears plausible, Pant said in a note.

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State revenue grows 5% till Nov against 17 4 budgeted for FY24: Report

The growth rate of the combined revenue receipts of the 16 largest states has fallen by almost 80 per cent to 5 per cent during April-November. The states have so far borrowed over 37 per cent more than they did last fiscal and given these poor numbers, they will have to borrow heavily this fiscal to service their debt and pay salaries and pensions.

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