Himachal's treasury has notched up overdraft of Rs 1,000 cr in 1st quarter, it is learnt. Congress's poll promises are expected to burden the state's coffers further.
Power sector reforms, preventing leakages in subsidies payments and avoiding fiscally unwise decisions like reversion to old pension system can help improve their financial health.
Govt is being sensible in asking for bigger RBI dividend & raising petroleum taxes. But Covid is increasing fiscal stress caused by preceding economic slowdown.
Emerging from the Covid crisis, the Centre will have to take a fresh approach to reviving growth, re-visiting fiscal balance with states, re-imagining GST etc.
Either Modi govt is expecting a revenue windfall that will be passed on to states, or states will be squeezed even further. My guess is it will be the latter.
Experts say debt is not a problem as long as it is sustainable. The issue is whether the massive generation of debt since the global financial crisis is going to be profitable.
The Ramayana entering politics is not the collapse of reason alone; sometimes it is also the search for continuity in a decade that has moved faster than people can catch up with
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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