Interim budget: 10 numbers that will influence stock markets

Fiscal deficit: India's high deficit has led to a threat of downgrade by ratings agencies, which the country cannot afford. The finance minister is expected to report a fiscal deficit of nearly 4.8 per cent (or even lower) of GDP for the current fiscal year. For the next fiscal year 2014-15, the government is likely to announce a deficit target of 4.2 per cent.
Cut-back in planned or productive expenditure: Analysts will be closely tracking how the deficit target is achieved. Last fiscal, Mr Chidambaram had cut back government expenditure by over Rs. 1 lakh crore to control fiscal deficit.
The subsidy bill - mainly for selling oil, fertiliser and food at cheaper rates - is likely to touch near Rs 3 trillion (1 trillion=1 lakh crore) in 2013-14, against a budgeted target of Rs 2.21 trillion. The government may defer oil, fertiliser and other subsidies worth nearly Rs 1 lakh crore to the next fiscal year to rein in fiscal deficit.
For the next fiscal year 2014-15, the government is likely to announce a deficit target of 4.2 per cent.
Gross borrowing, which is important from markets' point of view, is likely to be around Rs 6 lakh crore for 2014-15 assuming 12 per cent nominal GDP growth. This number will be closely tracked by bond, currency and equity markets.
Total expenditure between April-December stood at Rs 11.64 lakh crore.
Tax receipts: Net tax receipts were at Rs 5.18 lakh crore in the first nine months of the current fiscal year to March 2014.
Excise duties were down 6.9 per cent at Rs 1.02 lakh crore during April-December from the year-earlier period.
Customs tax receipts rose 4.3 per cent to Rs 1.24 lakh crore - much lower than the 13.6 per cent annual growth target.
GDP estimate: Finance Minister P Chidambaram is likely to project near 6 per cent GDP growth for coming 2014-15 fiscal year. The economy is projected to grow by 4.9 per cent for the current fiscal year ending in March.