India may face challenges in meeting fiscal glide path

Citing recent deficit reduction trend, Fitch Ratings has stated that the government’s aim to achieve its fiscal deficit target of 4.5 per cent of GDP for 2025-26 would be challenging. Sharing similar views Moody’s Investors Service stated that the outlined fiscal deficit target for 2025-26 could see some risks. The government has fixed the fiscal deficit target for 2023-24 at 5.9 per cent of GDP, while the fiscal deficit target for the current fiscal has been retained at 6.4 per cent of GDP.

References
1. https://economictimes.indiatimes.com/news/economy/indicators/india-to-see-challenges-in-meeting-fiscal-glide-path-fitch-analyst/articleshow/97526203.cms
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
7.7 +0.1
Consumer Sentiments Index
Base September-December 2015
89.0 +0.2
Consumer Expectations Index
Base September-December 2015
89.2 +0.3
Current Economic Conditions Index
Base September-December 2015
88.7 0.0
Quarterly CapEx Aggregates
(Rs.trillion) Mar 22 Jun 22 Sep 22 Dec 22
New projects 9.01 5.29 4.50 6.84
Completed projects 1.34 1.17 1.39 1.69
Stalled projects 0.43 0.54 0.08 0.01
Revived projects 0.33 0.29 0.16 0.68
Implementation stalled projects 0.09 0.29 0.28 0.11
Updated on: 28 Mar 2023 9:28AM
Quarterly Financials of Listed Companies
(% change) Mar 22 Jun 22 Sep 22 Dec 22
All listed Companies
 Income 20.8 40.1 25.2 16.5
 Expenses 19.8 41.4 26.9 16.4
 Net profit 31.6 21.2 -1.2 6.5
 PAT margin (%) 8.8 7.2 7.6 8.3
 Count of Cos. 4,707 4,750 4,703 4,512
Non-financial Companies
 Income 24.8 50.1 27.8 14.9
 Expenses 25.7 52.9 31.2 15.5
 Net profit 10.1 8.4 -21.4 -9.1
 PAT margin (%) 7.6 5.7 5.5 6.0
 Net fixed assets 2.0 4.1
 Current assets 15.0 19.0
 Current liabilities 11.6 10.4
 Borrowings 3.6 12.4
 Reserves & surplus 11.2 6.8
 Count of Cos. 3,407 3,441 3,431 3,333
Numbers are net of P&E
Updated on: 28 Mar 2023 9:28AM
Annual Financials of All Companies
(% change) FY20 FY21 FY22
All Companies
 Income 0.6 -1.1 26.6
 Expenses 0.3 -3.3 25.6
 Net profit -2.9 73.9 63.9
 PAT margin (%) 2.1 4.5 6.7
 Assets 8.9 10.8 10.0
 Net worth 4.9 11.9 14.2
 RONW (%) 3.5 7.0 11.2
 Count of Cos. 32,302 31,154 17,502
Non-financial Companies
 Income -1.0 -2.1 30.8
 Expenses -0.8 -4.0 30.4
 Net profit -19.7 61.6 61.4
 PAT margin (%) 2.3 4.0 5.8
 Net fixed assets 11.5 2.5 2.4
 Net worth 2.3 10.5 14.7
 RONW (%) 4.8 7.7 12.2
 Debt / Equity (times) 1.1 1.0 0.8
 Interest cover (times) 1.9 2.5 3.8
 Net working capital cycle (days) 74 81 62
 Count of Cos. 25,547 24,467 14,565
Numbers are net of P&E
Updated on: 27 Mar 2023 9:58AM