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.
As Park Street now anticipates the Christmas lights, Bangla cinema eyes a harmony. Colliding heritage, devotion and some detective grit, the year-ender comes with a rediscovery.
Clean energy is “no longer the sideshow, it is the show”, BVR Subrahmanyam told the Odisha summit, warning India to lead the global shift or risk others’ tech dominance.
Dubai airshow crash & pilot death have rekindled concerns over pilot safety, and need for smarter automated systems that can step in when G-forces, temporary loss of consciousness hit the pilot.
None of Pakistan’s PMs has lasted 5 years. That the current PM has given Asim Munir 5 years shows that of all military dictatorships history has seen, Pakistan’s is most creative.
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