ICRA pegs central govt's fiscal deficit at 10.4% of GDP in FY22

ICRA has estimated the central government’s fiscal deficit at 10.4 per cent of GDP in 2021-22, while the state governments’ fiscal deficit is projected at a relatively modest 3.3 per cent of GDP. As per the rating agency, if the government fails to meet its divestment target for the current fiscal, fiscal deficit may rise to Rs.16.6 trillion or 7.1 per cent of the GDP, overshooting the budgeted target of 6.8 per cent of GDP. Further, given the uncertainty arising due to Omicron variant of coronavirus, ICRA has highlighted two scenarios for fiscal deficit for 2022-23. First, a base case, where impact of current Covid-19 wave is limited to the March 2022 quarter and there is no fresh Covid-19 wave in 2022-23. Another is an adverse case with a moderate Covid-19 wave in 2022-23. As per ICRA, in the base case, the government’s fiscal deficit is estimated at Rs.15.2 trillion or 5.8 per cent of GDP in 2022-23. In the adverse case, the rating agency projects fiscal deficit at a higher Rs.17.9 trillion or 6.9 per cent of GDP.

References
1. https://www.livemint.com/economy/centres-fiscal-deficit-seen-9-3-of-gdp-in-fy23-vs-10-4-in-fy22-icra-11641983598700.html
2. https://economictimes.indiatimes.com/news/economy/finance/general-govt-fiscal-deficit-estimated-at-10-4-pc-in-fy2022-report/articleshow/88855822.cms
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
7.0 -0.7
Consumer Sentiments Index
Base September-December 2015
59.9 +1.2
Consumer Expectations Index
Base September-December 2015
61.2 +1.0
Current Economic Conditions Index
Base September-December 2015
57.9 +1.6
Quarterly CapEx Aggregates
(Rs.trillion) Mar 21 Jun 21 Sep 21 Dec 21
New projects 2.36 2.74 2.25 2.51
Completed projects 1.17 0.74 1.18 1.53
Stalled projects 0.28 0.33 0.03 0.03
Revived projects 0.23 0.12 0.28 0.39
Implementation stalled projects 0.34 0.38 0.25 0.65
Updated on: 19 Jan 2022 8:28PM
Quarterly Financials of Listed Companies
(% change) Mar 21 Jun 21 Sep 21 Dec 21
All listed Companies
 Income 15.1 39.2 27.9 17.0
 Expenses 7.4 38.6 27.3 18.0
 Net profit 337.8 142.5 52.7 12.8
 PAT margin (%) 8.8 9.0 9.6 19.4
 Count of Cos. 4,401 4,495 4,546 145
Non-financial Companies
 Income 17.8 56.1 36.1 18.9
 Expenses 10.7 57.1 36.6 22.3
 Net profit 222.4 199.3 59.5 4.9
 PAT margin (%) 9.0 8.5 8.8 17.7
 Net fixed assets 2.3 4.9
 Current assets 4.3 11.0
 Current liabilities 1.2 0.9
 Borrowings -4.5 12.2
 Reserves & surplus 11.7 12.4
 Count of Cos. 3,247 3,301 3,304 104
Numbers are net of P&E
Updated on: 19 Jan 2022 8:28PM
Annual Financials of All Companies
(% change) FY19 FY20 FY21
All Companies
 Income 13.4 0.6 -1.5
 Expenses 13.8 0.4 -4.1
 Net profit 12.7 -6.9 62.0
 PAT margin (%) 2.0 2.1 5.7
 Assets 9.9 8.8 10.7
 Net worth 8.2 4.5 13.3
 RONW (%) 3.6 3.5 8.2
 Count of Cos. 32,530 31,471 11,634
Non-financial Companies
 Income 14.2 -1.2 -3.0
 Expenses 14.3 -0.9 -5.3
 Net profit 22.1 -21.1 49.3
 PAT margin (%) 2.8 2.3 5.3
 Net fixed assets 6.0 11.2 1.5
 Net worth 7.8 2.2 11.0
 RONW (%) 6.3 4.9 9.1
 Debt / Equity (times) 1.0 1.1 0.8
 Interest cover (times) 2.2 1.9 2.8
 Net working capital cycle (days) 74 81 80
 Count of Cos. 25,943 25,015 8,657
Numbers are net of P&E
Updated on: 18 Jan 2022 2:48PM