Audit body found several other irregularities in govt’s accounts for FY22, including cess collections lying unused or misused, and expenditure being placed under opaque headings.
Finance Minister Nirmala Sitharaman says progress made on various issues like regulation of crypto assets, restructuring of debt & taxation frameworks, but these are 'possible takeaways'.
India's growth has been revised downwards to 5.9% for 2023, largely in keeping with global activity. However, high debt levels mean large parts of revenue will go in interest payments.
India needs broader base of 'national champions'. There is no wiggle room for investing more public money without fiscal maths going wrong, so some projects may have to be re-visited.
Low-income households seek loans often, but credit is suitable if it helps sustain or improve financial well-being. This is what must be ensured by lenders, regulators & policymakers.
RBI while analysing financial status of states last year termed Andhra as one of top 10 high-debt states. According to CAG it used 65-81% borrowings for debt repayment between 2016-17 & 2020-21.
Peter Manuel's ‘Cassette Culture’ showed the booming Bhakti music during the '80s and '90s when Anoop Jalota, Gulshan Kumar achieved success by singing the sanitised Bhajans.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
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