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Fiscal transparency jacks up ‘expenditure’ numbers in the Union Budget 2021-22

In order to understand why the Union Budget 2021-22 is being termed as ‘transparent’, it has to be read simultaneously with the 15th Finance Commission Main Report for 2021-26. But first, let us discuss about 'fertilizer subsidy'. The budget documents for Union Budget 2021-22 show that the spending on ‘fertilizer subsidy’ was slashed from Rs. 1,33,947 crore in 2020-21 (revised estimate) to Rs. 79,530 crore in 2021-22 (budget estimate). However, the...

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Total government liabilities rise to Rs 79.8 lakh crore in Q1: Finance Ministry report

-PTI NEW DELHI: Total liabilities of the government increased to Rs 79.8 lakh crore at end-June 2018 from Rs 77.98 lakh crore at end-March 2018, latest data on public debt showed Friday. Public debt accounted for 89.3 per cent of total Outstanding Liabilities at end-June 2018 with internal debt accounting for 83.0 per cent share. Nearly 24.9 per cent of the outstanding dated securities had a residual maturity of less than five years....

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Babu warns of 40% fall in MGNREGS jobs, but overruled

-The Times of India NEW DELHI: Overriding objections raised by senior officials, rural development minister Nitin Gadkari has ordered far-reaching changes in the job guarantee scheme (MGNREGS) which has provided seasonal work to one in three rural households in the last eight years. Documents obtained under the Right to Information (RTI) Act by activists show file notings by a senior official in the ministry arguing that Gadkari's announcements run contrary to the...

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Centre to fast-track 40,000 MW of hydro projects

-The Hindu Minister of State for Power (Independent Charge) Jyotirditya Scindia on Tuesday said the government was making efforts to fast-track nearly 95 hydro power projects with a capacity of 40,000 MW to give a big push to the power sector. The projects are awaiting clearances from different authorities, including Central Electricity Authority (CEA), Central Water Commission (CWC) and Ministry of Environment and Forests (MoEF). "We are fast-tracking each and every...

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Basics of the debt demon by Devadeep Purohit

Mass leaders in India have a tradition of broaching BSP —bijli, sadak and pani — issues to strike a chord during election rallies. However, in almost each of her 150-plus rallies across the state in the election season, Mamata Banerjee deviated from the conventional mix and squeezed into her speech phrases like debt burden, public finance and economic recovery. Whether such esoteric terms found resonance or not, Mamata did get across the...

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