{"id":31562,"date":"2018-10-27T14:43:38","date_gmt":"2018-10-27T09:13:38","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=31562"},"modified":"2018-10-27T14:43:38","modified_gmt":"2018-10-27T09:13:38","slug":"fiscal-glide-path-pushed-back-to-2021","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/fiscal-glide-path-pushed-back-to-2021\/","title":{"rendered":"Fiscal glide path pushed back to 2021"},"content":{"rendered":"<p><strong><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-miscellaneous\/tp-others\/fiscal-glide-path-pushed-back-to-2021\/article22626847.ece\">Fiscal glide path pushed back to 2021<\/a><\/strong><\/p>\n<p><strong>Context<\/strong><\/p>\n<p>The last full budget of the Narendra Modi-led Bhartiya Janata Party government before the general elections due in 2019 missed the fiscal deficit target of 3.2% for 2017-18<\/p>\n<p><strong>Bond yields rise as the government misses deficit target of 3.2%; analysts expect yields to remain elevated<\/strong><\/p>\n<p><strong>Why?:<\/strong> This was attributed to revenues to be received under the Goods and Services Tax (GST) for 11 months, instead of 12. The revenue for March will be received in April.<\/p>\n<p><strong>Fiscal Deficit targets<\/strong><\/p>\n<p>The government said the fiscal deficit target for next financial year would be 3.3% and 3.1% for the year after and then 3% for 2020-21.<\/p>\n<p><strong>Bond prices slumped<\/strong><\/p>\n<p>Bond prices slumped as the government missed the fiscal deficit target with the yield on 10 year government bond shot up 17 bps to end the day at 7.6%. Yields are expected<\/p>\n<p><strong>Government borrowing<\/strong><\/p>\n<p>The government pegged its net market borrowing at Rs. 4.62 trn in FY19 (excluding buyback and switches), which is in line with what the market had estimated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fiscal glide path pushed back to 2021 Context The last full budget of the Narendra Modi-led Bhartiya Janata Party government before the general elections due in 2019 missed the fiscal deficit target of 3.2% for 2017-18 Bond yields rise as the government misses deficit target of 3.2%; analysts expect yields to remain elevated Why?: This&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/fiscal-glide-path-pushed-back-to-2021\/\">Continue reading <span class=\"screen-reader-text\">Fiscal glide path pushed back to 2021<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-31562","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=31562"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/31562\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=31562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=31562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=31562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}