Data reveals that states with a lower variance between their estimates and their actual expenditure do better in terms of governance outcomes. Spending less isn't the solution.
The budget is being closely watched by the International Monetary Fund as the South Asian country seeks further bailout money during an economic and balance of payments crisis.
Nirmala Sitharaman said the government will aim to have strong public finances and a robust financial sector for the benefit of all sections of society.
The Modi govt is keen to rein in the fiscal deficit as it is well above the historical levels of 4% and 5%, having shot up to a record of 9.3% during the first year of Covid.
In the next budget, last of Modi govt's 2nd term, announcing a glide path to a deficit target of 4.5% of GDP by 2025-26 would lend credibility to its fiscal consolidation initiatives.
Bihar has lowest own tax revenue, Punjab high committed expenditures, while Rajasthan has deviated from fiscal deficit target. Such states need to balance vote bank & fiscal prudence.
Central govt's fiscal deficit touched 21% of full-year target in April-June quarter. But going forward, buoyant tax collections could help manage higher than budgeted expenditure.
The central theme emerging from Chinese online discourse is that while Trump may now acknowledge China’s strength and treat it as an equal, this recognition is driven more by fear and strategic anxiety than by genuine intent for collaboration.
Once seen as a fading presence on India’s investment & startup picture, the state is slowly moving up the ladder, with policy reforms & infrastructure building.
Agreement signed during 17th Joint Working Group (JWG) on defence cooperation. Defence Secretary Rajesh Kumar Singh met Director General in Israeli Ministry of Defence Amir Baram Tuesday.
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.
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