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Mint
27 minutes ago
- Mint
Delhi CM tables FY24 finance report in assembly; shows 55 pc drop in revenue surplus
New Delhi, Aug 4 (PTI) The revenue surplus of the Delhi government under AAP rule in 2023-24 declined by 55 per cent as compared to the preceding fiscal, said a CAG report tabled in the Monsoon session of the assembly by Chief Minister Rekha Gupta on Monday. Gupta tabled the Comptroller and Auditor General (CAG) reports on 'Finance Accounts and Appropriation Accounts of the Delhi for the year 2023-24. The report pointed that although the revenue receipts of the government dropped, the gross state domestic product (GSDP) at current prices grew at an average pace of 8.79 per cent during the last five years from ₹ 7.93 lakh crore in 2019-20 to ₹ 11.08 lakh crore in 2023-24. There was 9.17 per cent growth in GSDP in 2023-24 from the previous year 2022-23. Also, the budget outlay of Delhi increased at an average growth rate of 7.14 per cent from ₹ 64,180.68 crore in 2019-20 to ₹ 81,918.23 crore in 2023-24, said the report. It further said the revenue surplus of Delhi government in 2023-24 decreased from ₹ 14,457 crore to ₹ 6,462 crore, registering a fall of 55.30 per cent over 2022-23. The fiscal deficit, however, went down from ₹ 4,566 crore in 2022-23 to ₹ 3,934 crore in 2023-24, it said. The report of the CAG on the finances of the Delhi government for the year 2023-24, provided an overview of its finances, budgetary management and quality of accounts, financial reporting practices. The report noted a receipt-expenditure mismatch indicating rising fiscal stress. The report further showed that the Delhi government's revenue expenditure between 2019-20 and 2023-24 increased from ₹ 39,637 crore (5 per cent of GSDP) to ₹ 50,336 crore (4.54 per cent of GSDP). It consistently made up a significant portion ranging from 81 per cent (2021-22) to 83 per cent (2023-24) of the total expenditure during this period, growing at an average annual rate of 6.51 per cent, added the report.
Time of India
41 minutes ago
- Time of India
Currency watch: Rupee drops 48 paise to 87.66 against dollar; FII outflows, tariff worries drag
AI image The rupee plunged 48 paise to close at 87.66 against the US dollar on Monday, weighed down by persistent foreign fund outflows, global trade concerns, and rising dollar demand from oil importers. The Indian currency opened at 87.21 and touched an intraday low of 87.73 at the interbank foreign exchange market before settling 48 paise lower from its previous close of 87.18. On Friday, the rupee had staged a sharp rebound of 47 paise, PTI reported. Forex traders attributed the pressure to renewed fears over a wider trade disruption after US President Donald Trump's tariff measures resurfaced. Demand from oil marketing companies also added to the rupee's weakness. 'We expect the rupee to remain weak amid uncertainty over the India-US trade deal and foreign institutional investor (FII) outflows,' said Anuj Choudhary, Research Analyst, commodities and currencies, Mirae Asset Sharekhan. 'However, weakness in the US dollar amid chatter over rate cut expectations in the US due to weak economic data may support the rupee at lower levels,' he added. Choudhary expects the USD-INR pair to trade in a range of 87.40 to 88. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bogota: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo Traders are now eyeing factory order data from the US and the Reserve Bank of India's upcoming monetary policy. The six-member Monetary Policy Committee (MPC), chaired by RBI Governor Sanjay Malhotra, began its three-day meeting on Monday. The outcome of the rate decision will be announced on Wednesday. Brent crude futures fell 1.06% to $68.93 per barrel as OPEC+ confirmed a production hike from September, while softening demand expectations in the US and tariff risks also weighed. The US dollar index, which measures the greenback's strength against six major currencies, was down 0.37% at 98.77. Dilip Parmar, Senior Research Analyst at HDFC Securities, said the rupee's fall was also driven by foreign fund withdrawals and liquidity adjustments linked to a maturing $5 billion forex swap conducted by the RBI. "The forward premium rates also jumped to reflect the potential interest rate differential between the US and India after Friday's jobs data," he noted. US non-farm payroll data showed the economy added just 74,000 jobs in July, well below expectations of 106,000. The June figure was sharply revised to 14,000 from the earlier estimate of 147,000 — increasing pressure on the Federal Reserve to cut interest rates. Despite the currency weakness, Indian equities ended higher. The BSE Sensex gained 418.81 points to close at 81,018.72, while the Nifty climbed 157.40 points to 24,722.75. FIIs remained net sellers, pulling out Rs 2,566.51 crore from domestic equities on Monday, as per exchange data. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
News18
an hour ago
- News18
PFRDA launches new website to enhance digital engagement
Agency: PTI Last Updated: New Delhi, Aug 4 (PTI) Pension Fund Regulatory and Development Authority (PFRDA) on Monday launched its new and revamped website under the project PFRDA CONNECT initiative. It was launched by PFRDA Chairperson S Ramann, the pension fund regulator said in a statement. This aligns with PFRDA's vision of promoting transparency, efficiency, and accessibility in pension sector governance through cutting-edge technology, it said. The new website has been designed and developed in accordance with Government of India's guidelines and is fully compliant with GIGW (Guidelines for Indian Government Websites) and WCAG (Web Content Accessibility Guidelines), ensuring accessibility and inclusiveness for all stakeholders, it said. The upgraded website offers an enhanced user experience, enriched content structure, intuitive navigation, and improved functionality for ease of access by subscribers, intermediaries, and the public, it said. PTI DP TRB view comments First Published: August 04, 2025, 22:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
