Modi government's disinvestment decision is already facing stiff opposition from employees of BPCL, Container Corporation of India, and even the Swadeshi lobby.
According to the Controller General of Accounts, tax collection until September is 2.6% lower than last year — a sign that slowdown is affecting govt revenues.
There's no great virtue in stipulating that 3% of GDP is the desired level of fiscal deficit. India, with its faster economic growth rate, can cope quite well on all indicators with a higher deficit.
Loans from NSSF to PSUs have risen 500% since 2016-17, though some can’t repay them. Critics say this is govt’s way of keeping fiscal deficit in control.
Modi government has been transferring a part of its liabilities to FCI by giving it loans from NSSF and lowering the actual food subsidy in the budget.
Pakistan’s reported air strikes on Kabul last night, coinciding with Acting Afghan Foreign Minister Amir Khan Muttaqi’s visit to India, seem intended to send...
Recommendations appear in Niti Aayog’s Tax Policy Working Paper Series–II. It says there is a need to shift away from fear-based enforcement to trust-based governance.
In service with the British military since 2019, it is also known as the Martlet missile. Ukrainians have also deployed these missiles against Russian troops.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
I would be thrilled if the fiscal deficit could be contained to 5%. For the last five odd years, the much vaunted fiscal responsibility and restraint is largely a figment of the imagination. Huge windfall receipts from lower oil prices, off balance sheet borrowings by institutions such as Minister Gadkari’s NHAI and FCI, hoovering out of accumulated reserves – even advance premium payments – of LIC, ONGC, lately the RBI, we really do not know how large the fiscal hole is, beyond understanding that the state governments are equally stretched. So one would not agonise over 50 basis points above 3.3%. 2. It is now becoming clear that the economic slowdown, attributable almost entirely to how the economy has been managed, is adding to fiscal stress. It is also exacerbating the NPA mess, because few corporates could have foreseen in September 2013 where we would end up.
I would be thrilled if the fiscal deficit could be contained to 5%. For the last five odd years, the much vaunted fiscal responsibility and restraint is largely a figment of the imagination. Huge windfall receipts from lower oil prices, off balance sheet borrowings by institutions such as Minister Gadkari’s NHAI and FCI, hoovering out of accumulated reserves – even advance premium payments – of LIC, ONGC, lately the RBI, we really do not know how large the fiscal hole is, beyond understanding that the state governments are equally stretched. So one would not agonise over 50 basis points above 3.3%. 2. It is now becoming clear that the economic slowdown, attributable almost entirely to how the economy has been managed, is adding to fiscal stress. It is also exacerbating the NPA mess, because few corporates could have foreseen in September 2013 where we would end up.