Data released by the Controller General of Accounts showed that contraction in tax revenues and rising expenditures pushed the fiscal deficit to over Rs 6.6 lakh crore in first quarter.
Facing fiscal deficit of 7%, Modi govt can get the Reserve Bank of India to buy sovereign bonds directly or boost dividends to help supplement revenue.
Speaking at ThePrint's OffTheCuff, Chief Economics Commentator at The Financial Times Martin Wolf said India can afford to increase its debt-to-GDP ratio to 90%, but should avoid borrowing in foreign currency.
Speaking to ThePrint’s Editor-in-Chief Shekhar Gupta at Off The Cuff, Kotak Mahindra Bank MD & CEO Uday Kotak said govt could explore direct cash transfers route if needed.
The increase in annual borrowings to Rs 12 lakh crore from Rs 7.8 lakh crore has been necessitated by steep fall in revenue collections & unscheduled spending.
Many offices in Telangana have asked their employees to work from home because of heavy rainfall, but it has become impossible due to the internet outages.
The new law, which the government has framed as a moral duty, forced major platforms like Dream11 & Zupee to shut operations, wiping out hundreds of crores in market capitalisation.
The Navy has always been on board with the theaterisation plan, but the Air Force feels splitting up air assets into several theatre commands is futile & will tie up critical systems.
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.
Distressing, dismaying. There is a large pantheon, stretching from Pandit Nehru to God himself now, to whom we can assign blame, shirk responsibility. However, many things are coming to a head, almost synchronised, creating a perfect storm for India and virtually all households. We pray that the response will be worthy of the challenge.
Distressing, dismaying. There is a large pantheon, stretching from Pandit Nehru to God himself now, to whom we can assign blame, shirk responsibility. However, many things are coming to a head, almost synchronised, creating a perfect storm for India and virtually all households. We pray that the response will be worthy of the challenge.