India Fiscal - FY21 Delivers Some Headroom To FY22: IDFC Research
A customer holds a bundle of Indian rupee banknotes in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

India Fiscal - FY21 Delivers Some Headroom To FY22: IDFC Research

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDFC Research Report

India’s fiscal numbers for March 2021, and thus for the whole of FY21, were reported yesterday.

It confirmed to the expectations of a much higher outflow towards food subsidy and higher tax collections in Q4 than that envisaged in the budget presented on February 01.

This opens up some space as the year-on-year budgeted revenue growth numbers for FY22 now turn out to be lower versus FY21 actuals.

In this note, we look at the details of the food-subsidy cleanup, the extent of the space that has opened up for FY22 and thus the scope for any fiscal policy response to the pandemic in the year ahead.

Click on the attachment to read the full report:

IDFC Research India fiscal - FY21 delivers some headroom to FY22.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.