Cost of borrowing will go up if foreign lenders mistrust India’s budget estimates, off-budget borrowing or fear payment could be delayed to achieve annual targets.
India is losing the fiscal plot with bureaucrats trying to marshal resources by squeezing taxpayers, foreign investors, firms planning buybacks and even the RBI.
Nirmala Sitharaman announces a series of steps to raise tax revenues, including a surcharge on the super rich and a hike in excise duty and cess on fuel.
The Budget is upon us and so are terms such as revenue deficit, fiscal expansion & Public Sector Borrowing Requirement. Here's a dictionary to unscramble them.
Nitish Kumar has mastered the rhythm of renewal in Bihar. In a democracy of churn and chance, endurance may be the rarest—and most refined—form of political art.
While the move could free up grid capacity struggling to keep up with rapid renewable rollout, it would be a major setback for green ambitions. India aims to double clean power capacity to 500 gigawatts by the end of the decade.
This world is being restructured and redrawn by one man, and what’s his power? It’s not his formidable military. It’s trade. With China, it turned on him.
Elections are not decided on economic issues. Indian economy mostly black economy. Growth is not properly captured. Modi will remain as PM as long as he wants.
loved the fear i your eyes i am sure and out of tension now by voting modi atleast antinationalist like you are crying fouls and ass are burning really well proud of modi will give him 3rd tenure for sure
Modi picked up Ms Nirmala Sitharaman to implement Modieconomics which basically is to rob rich and middleclass to pay for poor. There is no fundamental policy to transform India’s economics. He may waste another five years without improving Economy . Reaching $ 5 trillion economy is just a dream.
Why are we even discussing economy this country has voted for what it wants. This system can produce only this standard of governance and this what this country deserves. Let them have what they wished.
Those who have black money , they can’t spend because of restrictions on cash transactions, as a result economy is down eg car sale is down and similar effect on other industries , real estate etc .
Come what may it will be modi in 2024 voters are interested not in economics .Their interest is Hindu Muslim.India Pakistan.Modi is past master in playing this game.So author should worry for himself.The nation is in firm hands.
The views expressed are real. Election outcome depend on these parameters, nationalism can win only one election, performance to enhance living of every one is essential. सबका साथ, विकास now shall be in action, not just rhetoric. No doubt, there is massive push in infrastructure, on ground, even to farm a lot has been done, but still lot more is needed. But better sense will prevail,
This is what well meaning folks on either side have been seeing ever since. Glad the author has woken up to the reality predicted basis action/results in the first term. It is a whole other story that Congress fought on issues that very few cared about really. Pains to see an economy with such potential being dragged down every other day!
You were overwhelmed by bhakti all these days Mr Jagannath. Has the govt stopped giving you advt that you have suddenly felt compelled to advise Modi?! For you he could do no wrong all these days. In your opinion you have practically called him a liar and his govt inept on the economic front. This is like closing the stables after the horses had bolted. Every indicator you have talked about existed before way before the 2019 elections…what made you economical on truth if not bhakti?!! Now what’s changed?! It’s your ilk that’s the real problem for India’s emergence as a great nation. People who sell their conscience for ….. and do disservice to the nation. You are to tell the truth always!! That’s your job. Not tell it when convenient or otherwise. Disgraceful.
I think any new election in the near future won’t be working by bjp . Though I am a bjp supporter and an ardent fan of Modi, still I won’t bite for him because he doesn’t have economic sense and he will take this country backwards not forward economically
The current economic problems are ironically related to Modi’s war on black money. Modi is committed to the rule of law and eliminating corruption. However, following rules in India is not easy. GST is the prime example – it is a excellent long term idea but in the short term it has made life difficult for thousands of small businesses who didn’t follow any rules (arcane or not) because they operated outside the law. What we see is the resulting contraction in demand as black money is squeezed. It should be an eye opener because we are conditioned to think of the underground economy as undesirable. However, it is a large part of our economy and provides jobs and fuels consumer demand. We need to bring the underground economy out of the shadows and this requires easing the rules of businesses. It’s not clear if Modi govt fully understands how important it is to ease the rules of running business in an environment of strict enforcement.
Very good analysis. India needs a big push to revive the economy. The tax increase and various forms of cess need to be optimized. We don’t doubt Modi’s intentions, but the fact is there is some reform looks needed to take the economy forward.
Radha Mohan Singh was brought in as a “ forward “ who could be projected as CM of Bihar, He was dealing with Agriculture, long in distress, affecting the livelihoods and well being of one half of the population. Despite his inadequacies becoming apparent early on, he was left undisturbed in Krishi Bhavan for five long years, till finally, deservedly, being dropped altogether. 2. India’s economy did not stumble for the first time after the Budget was presented in an elegant bahi khata, with the floor of the stock exchange bathed in its hue thereafter. It has been drifting downward for at least three years. The electoral verdict fortunately was unaffected by its condition. However, too many smart people in government not to recognise its true condition and that things can continue along the same trajectory for another five years. Before thinking of 2024, we have to get through the next five years safely. More than advisers – politically savvy economists or economically savvy politicians, both somewhat rare at the moment – what is required is a finely crafted economic team that becomes the locus of primary decision making. Each Cabinet Minister has to be effective in his domain; the alternative model has not worked. A dazzling FM on top of the economy, with global stature and credibility.
If 2009 and 2019 are to be compared, in both cases the incumbent won a second term and the dominant party added to its seats, the place to look for is not the reforms that were carried out. In both cases, hardly anything of note. At the moment, IBC has yielded very little in terms of amounts recovered against NPAs. GST is like cataract surgery that has got badly botched up. One cannot see anyone, either the business community or the wider public endorsing the incumbent on this ground. The winning impulse in 2009 was generated – the farm loan waiver was a smaller factor than projected – by the years of high growth, tax buoyancy, welfare spending, even the lack of enthusiasm for L K Advani. The seeds of scandals sown in UPA I were yet to sprout with a vengeance. The second term earned in 2019 merits deep analysis. Whatever the factors responsible for it, the economy is not the place to look for them. The issue to consider is how long the growing distress and pain in the economy can fail to register in political results.
The article is good …. But PM Modi rather than concentrating on these reforms is still banging in EVMs to win the next election . We need ballot boxes back ….
Elections are not decided on economic issues. Indian economy mostly black economy. Growth is not properly captured. Modi will remain as PM as long as he wants.
Modi has wilfully killed the economy with garbage political stunts. I will not vote for him the 3rd time. One bitten twice shy. 3rd time never try.
loved the fear i your eyes i am sure and out of tension now by voting modi atleast antinationalist like you are crying fouls and ass are burning really well proud of modi will give him 3rd tenure for sure
Only tbe print ndtv wire can say this..
CoZ these peopple are officially spokesperson of congress pakistan and others antinational orgnaisatiom
Hope Modi delivers on the economical front.
Hope there will be Election in 2024…. Hahaha… Discussing Economics…… What are you People Stupid… Hahaha.
Well said!
Modi picked up Ms Nirmala Sitharaman to implement Modieconomics which basically is to rob rich and middleclass to pay for poor. There is no fundamental policy to transform India’s economics. He may waste another five years without improving Economy . Reaching $ 5 trillion economy is just a dream.
Why are we even discussing economy this country has voted for what it wants. This system can produce only this standard of governance and this what this country deserves. Let them have what they wished.
No force on earth can defeat modi.This is the power of bhakti.
Those who have black money , they can’t spend because of restrictions on cash transactions, as a result economy is down eg car sale is down and similar effect on other industries , real estate etc .
Come what may it will be modi in 2024 voters are interested not in economics .Their interest is Hindu Muslim.India Pakistan.Modi is past master in playing this game.So author should worry for himself.The nation is in firm hands.
Modi did not win in 2019 due to economics, and wont loose in 2024 bacuse of it.
The views expressed are real. Election outcome depend on these parameters, nationalism can win only one election, performance to enhance living of every one is essential. सबका साथ, विकास now shall be in action, not just rhetoric. No doubt, there is massive push in infrastructure, on ground, even to farm a lot has been done, but still lot more is needed. But better sense will prevail,
Elaborately explained. Hope Modiji gets a chance to read it and discusses with Finance Minister and economists.
This is what well meaning folks on either side have been seeing ever since. Glad the author has woken up to the reality predicted basis action/results in the first term. It is a whole other story that Congress fought on issues that very few cared about really. Pains to see an economy with such potential being dragged down every other day!
You were overwhelmed by bhakti all these days Mr Jagannath. Has the govt stopped giving you advt that you have suddenly felt compelled to advise Modi?! For you he could do no wrong all these days. In your opinion you have practically called him a liar and his govt inept on the economic front. This is like closing the stables after the horses had bolted. Every indicator you have talked about existed before way before the 2019 elections…what made you economical on truth if not bhakti?!! Now what’s changed?! It’s your ilk that’s the real problem for India’s emergence as a great nation. People who sell their conscience for ….. and do disservice to the nation. You are to tell the truth always!! That’s your job. Not tell it when convenient or otherwise. Disgraceful.
I think any new election in the near future won’t be working by bjp . Though I am a bjp supporter and an ardent fan of Modi, still I won’t bite for him because he doesn’t have economic sense and he will take this country backwards not forward economically
The current economic problems are ironically related to Modi’s war on black money. Modi is committed to the rule of law and eliminating corruption. However, following rules in India is not easy. GST is the prime example – it is a excellent long term idea but in the short term it has made life difficult for thousands of small businesses who didn’t follow any rules (arcane or not) because they operated outside the law. What we see is the resulting contraction in demand as black money is squeezed. It should be an eye opener because we are conditioned to think of the underground economy as undesirable. However, it is a large part of our economy and provides jobs and fuels consumer demand. We need to bring the underground economy out of the shadows and this requires easing the rules of businesses. It’s not clear if Modi govt fully understands how important it is to ease the rules of running business in an environment of strict enforcement.
Good article
Good article to guide the Government.
Very good analysis. India needs a big push to revive the economy. The tax increase and various forms of cess need to be optimized. We don’t doubt Modi’s intentions, but the fact is there is some reform looks needed to take the economy forward.
Radha Mohan Singh was brought in as a “ forward “ who could be projected as CM of Bihar, He was dealing with Agriculture, long in distress, affecting the livelihoods and well being of one half of the population. Despite his inadequacies becoming apparent early on, he was left undisturbed in Krishi Bhavan for five long years, till finally, deservedly, being dropped altogether. 2. India’s economy did not stumble for the first time after the Budget was presented in an elegant bahi khata, with the floor of the stock exchange bathed in its hue thereafter. It has been drifting downward for at least three years. The electoral verdict fortunately was unaffected by its condition. However, too many smart people in government not to recognise its true condition and that things can continue along the same trajectory for another five years. Before thinking of 2024, we have to get through the next five years safely. More than advisers – politically savvy economists or economically savvy politicians, both somewhat rare at the moment – what is required is a finely crafted economic team that becomes the locus of primary decision making. Each Cabinet Minister has to be effective in his domain; the alternative model has not worked. A dazzling FM on top of the economy, with global stature and credibility.
If 2009 and 2019 are to be compared, in both cases the incumbent won a second term and the dominant party added to its seats, the place to look for is not the reforms that were carried out. In both cases, hardly anything of note. At the moment, IBC has yielded very little in terms of amounts recovered against NPAs. GST is like cataract surgery that has got badly botched up. One cannot see anyone, either the business community or the wider public endorsing the incumbent on this ground. The winning impulse in 2009 was generated – the farm loan waiver was a smaller factor than projected – by the years of high growth, tax buoyancy, welfare spending, even the lack of enthusiasm for L K Advani. The seeds of scandals sown in UPA I were yet to sprout with a vengeance. The second term earned in 2019 merits deep analysis. Whatever the factors responsible for it, the economy is not the place to look for them. The issue to consider is how long the growing distress and pain in the economy can fail to register in political results.
It’s good to see Jagannathan has finally woken up from his Hindutwa moorings. Let good sense prevaail
The article is good …. But PM Modi rather than concentrating on these reforms is still banging in EVMs to win the next election . We need ballot boxes back ….