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 IndiGo crisis is nothing short of a threat to India’s stability. Could it be an experiment? Can this happen in any other crucial sector like power or railways?
RBI Handbook of Statistics shows state’s GSDP has more than doubled in past decade, finishing second behind Maharashtra. It has performed well across health & education parameters as well.
It is argued that India-Israel ties are moving from buyer–seller dynamic to one focused on joint development & manufacturing partnership, a shift 'more durable' than traditional arms sales.
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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