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.
Over generations, Bihar’s bane has been its utter lack of urbanisation. But now, even Bihar is urbanising. Or let’s say, rurbanising. Two decades under Nitish Kumar have created a new elite in its cities.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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.