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
7.4 +0.5
Consumer Sentiments Index
Base September-December 2015
73.4 +0.2
Consumer Expectations Index
Base September-December 2015
72.0 0.0
Current Economic Conditions Index
Base September-December 2015
75.6 +0.6
Quarterly CapEx Aggregates
(Rs.trillion) Sep 21 Dec 21 Mar 22 Jun 22
New projects 3.34 3.91 7.76 3.79
Completed projects 1.28 2.76 1.25 1.05
Stalled projects 0.28 0.08 0.28 0.25
Revived projects 0.39 1.98 0.28 0.28
Implementation stalled projects 0.26 0.65 0.09 0.08
Updated on: 08 Aug 2022 8:28PM
Quarterly Financials of Listed Companies
(% change) Sep 21 Dec 21 Mar 22 Jun 22
All listed Companies
 Income 27.5 23.4 20.9 39.6
 Expenses 26.7 21.3 19.8 42.5
 Net profit 55.8 35.4 32.1 9.4
 PAT margin (%) 9.6 9.0 9.1 7.1
 Count of Cos. 4,695 4,739 4,575 1,430
Non-financial Companies
 Income 35.6 29.1 24.9 51.9
 Expenses 35.9 28.7 25.6 57.5
 Net profit 59.4 19.1 12.5 -9.5
 PAT margin (%) 8.8 7.5 7.9 5.4
 Net fixed assets 4.9 2.2
 Current assets 10.9 15.2
 Current liabilities 0.8 11.7
 Borrowings 12.2 3.6
 Reserves & surplus 12.4 11.5
 Count of Cos. 3,382 3,424 3,317 1,041
Numbers are net of P&E
Updated on: 08 Aug 2022 8:28PM
Annual Financials of All Companies
(% change) FY20 FY21 FY22
All Companies
 Income 0.6 -0.9 18.9
 Expenses 0.4 -3.2 16.4
 Net profit -5.8 73.4 62.3
 PAT margin (%) 2.0 4.4 10.9
 Assets 9.0 9.9 10.1
 Net worth 4.8 11.7 12.6
 RONW (%) 3.4 6.9 13.4
 Count of Cos. 32,607 30,609 2,075
Non-financial Companies
 Income -1.1 -2.0 27.5
 Expenses -0.9 -4.0 26.3
 Net profit -22.1 64.4 58.8
 PAT margin (%) 2.2 4.1 11.0
 Net fixed assets 11.2 2.2 3.3
 Net worth 2.1 10.7 13.1
 RONW (%) 4.6 7.8 17.5
 Debt / Equity (times) 1.2 1.0 0.5
 Interest cover (times) 1.9 2.4 6.9
 Net working capital cycle (days) 82 86 44
 Count of Cos. 25,804 24,027 1,526
Numbers are net of P&E
Updated on: 05 Aug 2022 10:42AM