The government has already exceeded its fiscal deficit target for the financial year ending March 2018, showed data released by the Controller General of Accounts on Friday.
The fiscal deficit – the difference between expenditure and revenue – was high because of lower Goods and Services Tax collections and higher expenditure, the CGA data said.
In absolute terms, the fiscal deficit during the April to November period was Rs 6.12 lakh crore, against a Budget estimate of Rs 5.46 lakh crore – or 112% of its target for the financial year 2017-’18, Mint reported.
In the same period in 2016-’17, the deficit was 85.8% of the year’s target.
Earlier this week, Finance Minister Arun Jaitley said it will borrow Rs 50,000 crore from the market above its budget estimate for 2017-’18. This additional market borrowing could take the fiscal deficit to 3.54% of this year’s Gross Domestic Product – value of all the goods and services – against the government’s target of controlling it at 3.2%.
The GST collections slipped to their lowest in November as rates were cut on several goods to make the new single tax regime more acceptable.
Here are some tips that’ll help you take the lead.
Starting 16th July at 4:00pm, Flipkart will be hosting its Big Shopping Days sale over 3 days (till 19th July). This mega online shopping event is just what a sale should be, promising not just the best discounts but also buying options such as no cost EMIs, buyback guarantee and product exchanges. A shopping festival this big, packed with deals that you can’t get yourself to refuse, can get overwhelming. So don’t worry, we’re here to tell you why Big Shopping Days is the only sale you need, with these helpful hints and highlights.
Samsung Galaxy On Nxt (64 GB)
A host of entertainment options, latest security features and a 13 MP rear camera that has mastered light come packed in sleek metal unibody. The sale offers an almost 40% discount on the price. Moreover, there is a buyback guarantee which is part of the deal.
Original price: Rs. 17,900
Big Shopping Days price: Rs. 10,900
Samsung 32 inches HD Ready LED TV
Another blockbuster deal in the sale catalogue is this audio and visual delight. Apart from a discount of 41%, the deal promises no-cost EMIs up to 12 months.
Original price: Rs. 28,890
Big Shopping Days price: Rs. 10,900
Intel Core I3 equipped laptops
These laptops will make a thoughtful college send-off gift or any gift for that matter. Since the festive season is around the corner, you might want to make use of this sale to bring your A-game to family festivities.
Original price: Rs. 25,590
Big Shopping Days price: Rs. 21,900
If you’ve been planning a mid-year wardrobe refresh, Flipkart’s got you covered. The Big Shopping Days offer 50% to 80% discount on men’s clothing. You can pick from a host of top brands including Adidas and Wrangler.
With more sale hours, Flipkart’s Big Shopping Days sale ensures we can spend more time perusing and purchasing these deals. Apart from the above-mentioned products, you can expect up to 80% discount across categories including mobiles, appliances, electronics, fashion, beauty, home and furniture.
Features like blockbuster deals that are refreshed every 8 hours along with a price crash, rush hour deals from 4-6 PM on the starting day and first-time product discounts makes this a shopping experience that will have you exclaiming “Sale ho to aisi! (warna na ho)”
Set your reminders and mark your calendar, Flipkart’s Big Shopping Days starts 16th July, 4 PM and end on 19th July. To participate in 80 hours of shopping madness, click here.
This article was produced by the Scroll marketing team on behalf of Flipkart and not by the Scroll editorial team.