https://www.taxtmi.com/news?id=2891 The Union Budget for 2012-13 targets the Fiscal Deficit at 5.1% of GDP with net market borrowings through dated securities after other financing items, and projects total debt stock at 45.5% of GDP; the Effective Revenue Deficit is identified as a specified share of GDP. The reduction in the fiscal gap is attributed to fiscal consolidation measures taken despite lower direct tax collections, revenue losses from petroleum duty reductions, and higher petroleum and fertilizer subsidy spending to moderate consumer prices. en-us Fri, 16 Mar 2012 13:32:41 +0530 Fri, 16 Mar 2012 13:32:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=2891 The Union Budget for 2012-13 targets the Fiscal Deficit at 5.1% of GDP with net market borrowings through dated securities after other financing items, and projects total debt stock at 45.5% of GDP; the Effective Revenue Deficit is identified as a specified share of GDP. The reduction in the fiscal gap is attributed to fiscal consolidation measures taken despite lower direct tax collections, revenue losses from petroleum duty reductions, and higher petroleum and fertilizer subsidy spending to moderate consumer prices. News - Fri, 16 Mar 2012 13:32:41 +0530 https://www.taxtmi.com/news?id=2891