The fiscal deficit for 2019-20 and 2020-21 would have been higher at 4.6% and 4.4% respectively if the govt had not shifted its liabilities out of the budget.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
1. This is an interesting article. My view is that most ordinary citizens won’t understand anything about fiscal deficit and other terms used in this article. 2. My simple suggestion is that all governments follow commercial system of accounting which just needs maintaining record of all transactions of expenditure and income on accrual basis. Once this is done, the so-called difficulty in arriving at figure of fiscal deficit can be considerably lessened. 3. We are aware of fact that listed companies follow and implement provisions in the Companies Act and also SEBI’s guidelines to regarding disclosure of important financial information in specific formats. If both Central and all State governments strictly follow commercial system of accounting, as mentioned earlier, and accordingly prepare statements of financial performance in proper formats, there won’t be any secrecy around fiscal deficit figures.
1. This is an interesting article. My view is that most ordinary citizens won’t understand anything about fiscal deficit and other terms used in this article. 2. My simple suggestion is that all governments follow commercial system of accounting which just needs maintaining record of all transactions of expenditure and income on accrual basis. Once this is done, the so-called difficulty in arriving at figure of fiscal deficit can be considerably lessened. 3. We are aware of fact that listed companies follow and implement provisions in the Companies Act and also SEBI’s guidelines to regarding disclosure of important financial information in specific formats. If both Central and all State governments strictly follow commercial system of accounting, as mentioned earlier, and accordingly prepare statements of financial performance in proper formats, there won’t be any secrecy around fiscal deficit figures.