-Networkideas.org It’s that time of year again – the time when all eyes turn to those magic numbers, the actual and proposed fiscal deficits of the central government as shares of GDP. Breathless news anchors will interrogate financial investors on what the numbers mean, and why 3.5 per cent or 3.7 per cent is fatally worse than, say, 3.4 per cent or 3.2 per cent or less. Everyone will breathe a...
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Quality of spending comes under radar as fiscal draws to a close -Surabhi
-The Hindu Business Line Economists warn that revenue deficit may breach target New Delhi: Will the Exchequer’s switch to a new classification of expenditure from 2017-18 help lower the revenue deficit and improve the quality of spending? The Finance Ministry believes that shift in classification to revenue and capital expenditure from April 1, departing from the current distinction of Plan and Non-Plan spending, will help it direct expenditure towards productive purposes. It is also...
More »Centre owes Rs. 80,000 crore to States, says CAG report
-The Hindu The finding has the potential to significantly impact the finances of most States The Centre owes the States over Rs. 80,000 crore from its net proceeds of the period between 1996 and 2015, according to a Comptroller and Auditor General (CAG) report tabled in Parliament on Friday. The revelation has the potential to significantly impact the finances of most States, because most of them could end up getting a few thousand...
More »WB Oppn Seeks Rs 5.5 Lakh Cr From Finance Commission
-Outlook Kolkata: The Opposition Left Front in West Bengal today demanded Rs 5,50,000 crore for the state during 2015-2020 period, which is more than double of what the ruling Trinamool Congress government had demanded from the 14th Finance Commission. "We from the Left Front had met the 14th Finance Commission and the meeting was fruitful. We had demanded about Rs 5,50,000 crore for the state," former state finance minister Asim Dasgupta said...
More »Cash transfer of subsidy could save Rs 60,000 crore: Study -Surojit Gupta
-The Times of India Direct transfer of benefits in cash to targeted beneficiaries of food and fertilizer subsidies could save an estimated Rs 60,000 cr and help trim the fiscal deficit which, in turn, may calm stubbornly high food inflation, a study by a government wing has shown. The study showed that policies to rein in food inflation would require winding down of the fiscal deficit, which has gone above 8% of...
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