After Trading Hour News
Fiscal deficit falls by 5.6% in Oct
Revenue collection this year has increased by 30%. Commenting on the revenue collection, Finance Minister P Chidambaram has said he was confident of meeting the revenue and fiscal deficit targets. Both plan and non-plan expenditure are according to expectations.
On meeting the fiscal and revenue deficit target, Chidambaram said ``We have to meet the fiscal deficit and revenue deficit target for this year and continue to meet next year and next so that we wipe out revenue deficit by 2008-09 and take fiscal fiscal deficit to 3 percent by 2008-09.``
The fiscal deficit which declined by 5.6% in October this year, stands at Rs 871 billion as compared to Rs 920.6 billion in the same period last year. Revenue deficit was Rs 672.9 billion in the first seven months this year, as against Rs 702.84 billion in the corresponding period last year.
As a percentage of budget estimate, the revenue deficit for the current year is 79.4% of the budget estimate as against 73.7% last year while fiscal deficit stood at 58.6% of the budget estimate as against 60.9% last year.
According to Controller of General Accounts(CGA) data, at the end of October, the excise duty collection is higher at 7%, against the budget target of 6.4%. Customs registered a growth of 31% during the first seven months against the estimate of 18.1%, while services tax grew by 64% versus 43.52%.
MFs net buyers in equities worth Rs 1,164.7 mn on Nov 29
Mutual Funds (MFs) turned net buyers in equities to the tune of Rs 1,164.7 million on November 29. They bought equity worth Rs 6,437.1 million and sold equity worth Rs 5,272.4 million. Till November 29, they have been net buyers in equities worth Rs 637 million .
MFs were also net buyers in debt on November 29 to the tune of Rs 3,270.7 million. They bought debt worth Rs 9,908.6 million and sold debt worth Rs 6,637.9 million. Till November 29, they have been net buyers in debt to the tune of Rs 59,253.7 million.
FIIs net sellers in equities worth Rs 630 mn on Nov 29
Foreign institutional investors (FIIs) were net sellers in equities worth Rs 630 million (USD13.9 million) on November 29. They bought equity worth Rs 19,076 million and sold equity worth Rs 19,706 million. Till November 29, they have been net buyers in equities to the tune of Rs 93,801 million (USD 2,036.9 million).
FIIs were however, net buyers in debt on November 29 to the tune of Rs 634 million(USD14 million). They bought debt worth Rs 634 million. Till November 30, they have been net buyers in debt worth Rs 8,064 million (USD 176.2 million).
Till November 29, FIIs have thus been net buyers in both equities and debt to the tune of Rs 1,01,865 million (USD 2,213.1 million).In the derivatives segment, FIIs were net sellers to the tune of Rs 3,978.3 million on November 28. They bought derivatives worth Rs 62,878.1 million, while they sold derivatives worth Rs 66,856.4 million.
Revenue collection this year has increased by 30%. Commenting on the revenue collection, Finance Minister P Chidambaram has said he was confident of meeting the revenue and fiscal deficit targets. Both plan and non-plan expenditure are according to expectations.
On meeting the fiscal and revenue deficit target, Chidambaram said ``We have to meet the fiscal deficit and revenue deficit target for this year and continue to meet next year and next so that we wipe out revenue deficit by 2008-09 and take fiscal fiscal deficit to 3 percent by 2008-09.``
The fiscal deficit which declined by 5.6% in October this year, stands at Rs 871 billion as compared to Rs 920.6 billion in the same period last year. Revenue deficit was Rs 672.9 billion in the first seven months this year, as against Rs 702.84 billion in the corresponding period last year.
As a percentage of budget estimate, the revenue deficit for the current year is 79.4% of the budget estimate as against 73.7% last year while fiscal deficit stood at 58.6% of the budget estimate as against 60.9% last year.
According to Controller of General Accounts(CGA) data, at the end of October, the excise duty collection is higher at 7%, against the budget target of 6.4%. Customs registered a growth of 31% during the first seven months against the estimate of 18.1%, while services tax grew by 64% versus 43.52%.
MFs net buyers in equities worth Rs 1,164.7 mn on Nov 29
Mutual Funds (MFs) turned net buyers in equities to the tune of Rs 1,164.7 million on November 29. They bought equity worth Rs 6,437.1 million and sold equity worth Rs 5,272.4 million. Till November 29, they have been net buyers in equities worth Rs 637 million .
MFs were also net buyers in debt on November 29 to the tune of Rs 3,270.7 million. They bought debt worth Rs 9,908.6 million and sold debt worth Rs 6,637.9 million. Till November 29, they have been net buyers in debt to the tune of Rs 59,253.7 million.
FIIs net sellers in equities worth Rs 630 mn on Nov 29
Foreign institutional investors (FIIs) were net sellers in equities worth Rs 630 million (USD13.9 million) on November 29. They bought equity worth Rs 19,076 million and sold equity worth Rs 19,706 million. Till November 29, they have been net buyers in equities to the tune of Rs 93,801 million (USD 2,036.9 million).
FIIs were however, net buyers in debt on November 29 to the tune of Rs 634 million(USD14 million). They bought debt worth Rs 634 million. Till November 30, they have been net buyers in debt worth Rs 8,064 million (USD 176.2 million).
Till November 29, FIIs have thus been net buyers in both equities and debt to the tune of Rs 1,01,865 million (USD 2,213.1 million).In the derivatives segment, FIIs were net sellers to the tune of Rs 3,978.3 million on November 28. They bought derivatives worth Rs 62,878.1 million, while they sold derivatives worth Rs 66,856.4 million.
posted by SY at 9:28 PM
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