Budget Preview - India's Fiscal Deficit May Be 6.1-6.2% Of GDP In FY23E: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Motilal Oswal Report.The Government of India will present the Union Budget 2023-24 on Feb 01, 2023. Although the Budget presentation is only one part of managing public finances, it continues to garner a lot of attention. We believe the GoI will continue on its fiscal consolidation path, targeting a fiscal deficit of 5.6-5.8% of gross domestic product in FY24. It is clear that the GoI has been very conservative in its tax receipt estimates in the past couple of years, which is in stark contrast to its earlier practice of presenting over-ambitious targets. As a result, it remains very difficult to forecast FY24BEs. In this note, we present our projections for central government finances in FY23 and FY24. Based on provisional data available for seven months-FY23 (Apr-Oct-22), our calculations suggest that gross taxes can exceed budget estimates by as much as Rs 4 trillion in FY23 (same as that projected earlier). With a higher devolution and a shortfall in divestment, it means an over-achievement of ~Rs 2 trillion in total receipts in FY23..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Budget Preview - India's Fiscal Deficit May Be 6.1-6.2% Of GDP In FY23E: Motilal Oswal

The Government of India will present the Union Budget 2023-24 on Feb 01, 2023.

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