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 PAHAL scheme was first launched under the UPA government in 2013, and was then revised and relaunched after the Modi government came to power in 2014.
The government will have to do a balancing act, maintaining growth and macroeconomic stability by keeping fiscal and current account deficits within manageable limits.
Compassion and cohabitation with animals are ingrained in the Indian value system. A humane solution must be found for the rising conflict between man and free-range animals.
New bill aims to fix key issues with IBC 2016, including delays & patchy implementation, and protect creditors, with window for genuine promoters to retain control of their companies.
Putin sees this as a victory. Europeans have decided to deal with Trump on his terms for the sake of the larger Western alliance. We look at the lessons for us in India.
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