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The Latest Breaking News from Deficit

Inflation Won't Go Away Until Congress Gets the Deficit Under Control

The Federal Reserve's higher interest rates were supposed to trigger changes to fiscal policy. So far, that hasn't happened.

Reason

State’s capex declined over 7% so far in 2023-24

Tamil Nadu has reduced capital expenditure by 7.37% in 2023-24 (till Aug) compared to 2022-23. The State had budgeted ₹44,366 crore for capital expenditure and spent 22.44% of it. Govt is monitoring capital works to spur growth and manage revenue deficit at budgeted level of ₹37,540 crore. Debt to GSDP…

The Hindu

India has high debt like China, but risks are moderated: IMF

IMF official advises India to have ambitious fiscal consolidation plan to bring down deficits. Debt is high but risks moderated by long maturities, domestic holdings, and high growth. Suggests revenue and spending reforms, public investments, and improved fiscal management.

The Hindu

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With scanty rain and RE deficit, Karnataka falls short of power while demand surges

The failure of the southwest monsoon and a surge in demand across various sectors has resulted in an unprecedented power situation in Karnataka with a mismatch in availability in demand. While the previous year’s power demand in the State on October 9 was 8,818 MW, on the same day this…

The Hindu

Sean McDermott hopes Bills return to London despite loss to Jaguars

The Bills found themselves up against an 11-0 deficit after the first quarter.

The Independent UK

State’s total revenue receipts increased marginally in 2023-24

TN's revenue receipts up 5.47% to ₹92,967.33 cr till Aug. SOTR increased to ₹59,616.01 cr, revenue deficit at ₹17,614.98 cr. Assembly session to commence on Monday, with focus on Kalaignar Mahalir Urimai Thittam & borrowings of ₹18,000 cr in Q3.

The Hindu

LSU overcomes 15-point deficit to topple Missouri

LSU rallied to topple Missouri in SEC play

USA Today Sports Media Group

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Budget deficit in MGNREGS an indicator of the deepening rural distress: Jairam Ramesh

Congress leader Jairam Ramesh: MGNREGS budget exhausted in six months of the current financial year, indicating "deepening rural distress" and “rising inequality". Modi government’s priorities seen in 48% SUV sales, while digitisation used to discourage demand for MGNREGA.

The Hindu

Europa League: Brighton overcome a 0-2 deficit to earn a draw against Olympique de Marseille

NEW DELHI: Brighton Hove Albion delivered a remarkable second-half performance, including a late penalty, to recover from a two-goal deficit and secure a thrilling 2-2 draw against Olympique de Marseille in an action-packed Europa League Group B encounter on Thursday.

The Times of India

As rains failed, Varuna Mitra registers spike in calls from farmers

Farmers in Karnataka anxious due to 28% rainfall deficit in southwest monsoon. Varuna Mitra helpdesk received record 3.08 lakh calls in June and 2.94 lakh calls in Sept. Calls in extreme deficit months rose to all-time high, reflecting farmers' distress.

The Hindu

Stocks Move Lower as Bond Yields Firm

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.75%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.41%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.25%. Stocks this morning are moderately lower. A smaller-than-expected increase...

Barchart

Karnataka facing ‘green drought’ in several parts with nil or severely reduced yield, says Minister

Karnataka urges drought review team from the Centre to assess impact of rainfall deficit on agriculture. While the State is expecting ₹4,860 crore from the Centre, the estimates losses in agriculture is pegged at ₹30,432 crore. The 10-member team will be touring 13 drought-hit districts till October 8.

The Hindu

U.S. Ryder Cup team squanders opportunity to cut into deficit; Team Europe leads 6½-1½

Team USA failed to earn a full point in any match on Friday.

USA Today Sports Media Group

Wilko owed £625m when it collapsed, leaving pension fund £50m short

Retailer’s unsecured creditors, who include suppliers, will recoup less than 8% of what they are owed

The Guardian - UK

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Autosport

Vasseur: Ferrari can’t "postpone the fight" with Mercedes to 2024 F1 season

In the four races held since the summer break, Ferrari has passed Aston Martin for third place in the constructors’ championship, and cut the deficit to Mercedes in second from 56 points to 20, while Carlos Sainz became the first non-Red Bull winner of the season in Singapore.

The Hindu

India’s external debt rises to $629.1 billion at end-June 2023: RBI

India's external debt rose to $629.1B at end-June 2023, with long-term debt up $9.6B. CAD widened to $9.2B in Q1:2023-24, due to higher trade deficit and lower net services surplus.

Radio France Internationale

Uruguay recover to beat indisciplined Namibia at rugby World Cup

Uruguay overturned an eight-point half-time deficit on Wednesday night to inflict yet another defeat on Namibia at a rugby union World Cup.

The Conversation

GOP shutdown threat is the wrong way to win a budget war − history shows a better strategy for reducing the deficit

Congress has just days to keep the federal government from grinding to a halt, and a last-minute deal seems increasingly unlikely. The problem is that lawmakers need to pass a dozen appropriations bills – or a single continuing resolution – by Sept. 30, 2023, in order to keep the government’s…

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The Hindu

Monsoon begins withdrawal from Rajasthan

Monsoon withdrawal begins in West Rajasthan on September 25, a week behind normal. August rains were 36% below normal, but Sept rains 16% above normal, reducing overall deficit. Sept rains most above-normal in S. India & C. India, below-normal in east and northeast India. Monsoon withdrawal takes until mid-Oct.

USA Today Sports Media Group

Behind the Numbers: Packers overcome 17-point fourth quarter deficit vs. Saints

Highlighting the numbers that help tell the story of the Packers' comeback win over the Saints in Week 3.

The Hindu

Revenue deficit of Andhra Pradesh crosses budget estimates in first quarter itself

Q1 review of 2023-24 finances in Andhra Pradesh shows grim picture: revenue deficit exceeded BE; revenue expenditure 31.82% of BE; fiscal deficit 39.49% of BE; public debt 32% of BE; open market borrowings 36% of BE; 31.82% of commitments to Navaratnalu achieved.

USA Today Sports Media Group

Biggest plays from the Packers’ incredible fourth quarter comeback vs. Saints

The Packers erased a 17-0 deficit, scoring 18 straight points to stun the Saints on Sunday. Here's how it happened in the fourth quarter.

The Hindu

Kerala’s rainfall deficit dips ahead of southwest monsoon’s withdrawal

Kerala's monsoon deficit reduced to 38% due to late surge, withdrawal likely to begin in a day. Further strengthening of El Niño and positive IOD likely to bring relief in upcoming NE monsoon season. Idukki reservoir has only 36% water despite late surge.

The Hindu

Prakasam peasants worried over poor storage in Krishna basin reservoirs

Prakasam farmers cross fingers for poor reservoir storage in Krishna basin. Poor inflows result in meagre 285.69 tmc storage vs. 575.57 capacity. No inflows to Nagarjunasagar reservoir, irrigating district. 42.7% excess rainfall improves crop coverage, but 70.9% deficit in August affects standing crops. Chilli cultivation with bore well water in…

Autosport

Mercedes not “clinging on” to current concepts for 2024 F1 car revamp

A one-second deficit to pole position man Max Verstappen in qualifying for the Japanese Grand Prix has exposed the major downforce deficit and balance struggles that Mercedes duo Lewis Hamilton and George Russell have been battling with all season.

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