While higher tax and non-tax revenue collections are expected to more than offset any shortfall in disinvestment revenue in FY23-24 for India, higher-than-budgeted revenue expenditure triggered through the first and likely second supplementary demand for grants in combination with lower-than-budgeted nominal gross domestic product (GDP) will push the fiscal deficit to 6.0% of GDP, 10bp (basis points) higher than the budgeted 5.9%, says a research note.
Central Schemes Unlikely To Be Revamped Before 2024 Polls menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
The wage increases will start on April 1 and range from $7 to $26 per day. The wage increases range from 2 percent to 10 percent when expressed in percentage terms.
The Modi government’s 2023-24 budget combines brutal austerity measures for India’s workers and toilers, with a 13 percent hike in military spending and massive sops to big business, the rich and superrich.