Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | A Budget that goes nowhere -C Rammanohar Reddy    </title>
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-The Hindu

It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth

Union Finance Minister Nirmala Sitharaman is mistaken if she thinks her first Budget is going..."/>
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-The Hindu

It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth

Union Finance Minister Nirmala Sitharaman is mistaken if she thinks her first Budget is going..." />
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                            <div align="justify">-The Hindu<br /><em><br />It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth</em><br /><br />Union Finance Minister Nirmala Sitharaman is mistaken if she thinks her first Budget is going to revive a slowing economy.<br /><br />The economy grew by just 5.8% in real terms in the last quarter of 2018-19. Yet, the Union Budget for 2019-20 assumes that the economy will grow this year by 12% in nominal terms, or by 7-8% in real terms. How can that dramatic a turnaround take place? Only if there is a sharp pick-up in investment &mdash; private and/or public.<br /><br />There is little in the Budget that is likely to boost domestic private investment. There are neither any incentives for private investment nor support for public investment. To make matters worse, the Budget has actually projected a decline in central government capital expenditure (public investment) in 2019-20 by 6% in nominal terms. This is perhaps the first ever decline in public investment in the past half century, which, once adjusted for inflation, could measure over 10%. It is no wonder that the Finance Minister, shedding the convention of decades, did not mention any allocations for schemes in her speech and pushed all the numbers to the fine print.<br /><em><br />Same direction as before</em><br /><br />It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth. Some of the norms for foreign institutional investment (FII) are to be liberalised, so too for foreign portfolio investment (FPI) and ceilings on foreign direct investment (FDI) are to be raised in some sectors. More ominously, the government has now decided to go in for external commercial borrowings to meet part of its borrowing requirements, claiming that India&rsquo;s external debt to GDP ratio is very small. This is very much like what the governments of the 1980s did, which eventually led to the balance of payments crisis of the early 1990s. Why are we again heading in that direction?<br /><br />Please <a href="https://www.thehindu.com/opinion/op-ed/a-budget-that-goes-nowhere/article28298315.ece?fbclid=IwAR03uEKT4J4iacda-PV_wNpV866PbrpRLXI4YfuhK_pDnvKncihX9ZGRo1E" title="https://www.thehindu.com/opinion/op-ed/a-budget-that-goes-nowhere/article28298315.ece?fbclid=IwAR03uEKT4J4iacda-PV_wNpV866PbrpRLXI4YfuhK_pDnvKncihX9ZGRo1E">click here</a> to read more. <br /></div>                                                           
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It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth

Union Finance Minister Nirmala Sitharaman is mistaken if she thinks her first Budget is going..."/>
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It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth

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    <h1 class="cat-box-title">A Budget that goes nowhere -C Rammanohar Reddy</h1>
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                            <div align="justify">-The Hindu<br /><em><br />It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth</em><br /><br />Union Finance Minister Nirmala Sitharaman is mistaken if she thinks her first Budget is going to revive a slowing economy.<br /><br />The economy grew by just 5.8% in real terms in the last quarter of 2018-19. Yet, the Union Budget for 2019-20 assumes that the economy will grow this year by 12% in nominal terms, or by 7-8% in real terms. How can that dramatic a turnaround take place? Only if there is a sharp pick-up in investment &mdash; private and/or public.<br /><br />There is little in the Budget that is likely to boost domestic private investment. There are neither any incentives for private investment nor support for public investment. To make matters worse, the Budget has actually projected a decline in central government capital expenditure (public investment) in 2019-20 by 6% in nominal terms. This is perhaps the first ever decline in public investment in the past half century, which, once adjusted for inflation, could measure over 10%. It is no wonder that the Finance Minister, shedding the convention of decades, did not mention any allocations for schemes in her speech and pushed all the numbers to the fine print.<br /><em><br />Same direction as before</em><br /><br />It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth. Some of the norms for foreign institutional investment (FII) are to be liberalised, so too for foreign portfolio investment (FPI) and ceilings on foreign direct investment (FDI) are to be raised in some sectors. More ominously, the government has now decided to go in for external commercial borrowings to meet part of its borrowing requirements, claiming that India&rsquo;s external debt to GDP ratio is very small. This is very much like what the governments of the 1980s did, which eventually led to the balance of payments crisis of the early 1990s. Why are we again heading in that direction?<br /><br />Please <a href="https://www.thehindu.com/opinion/op-ed/a-budget-that-goes-nowhere/article28298315.ece?fbclid=IwAR03uEKT4J4iacda-PV_wNpV866PbrpRLXI4YfuhK_pDnvKncihX9ZGRo1E" title="https://www.thehindu.com/opinion/op-ed/a-budget-that-goes-nowhere/article28298315.ece?fbclid=IwAR03uEKT4J4iacda-PV_wNpV866PbrpRLXI4YfuhK_pDnvKncihX9ZGRo1E">click here</a> to read more. <br /></div>                                                           
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It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth

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    <h1 class="cat-box-title">A Budget that goes nowhere -C Rammanohar Reddy</h1>
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                            <div align="justify">-The Hindu<br /><em><br />It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth</em><br /><br />Union Finance Minister Nirmala Sitharaman is mistaken if she thinks her first Budget is going to revive a slowing economy.<br /><br />The economy grew by just 5.8% in real terms in the last quarter of 2018-19. Yet, the Union Budget for 2019-20 assumes that the economy will grow this year by 12% in nominal terms, or by 7-8% in real terms. How can that dramatic a turnaround take place? Only if there is a sharp pick-up in investment &mdash; private and/or public.<br /><br />There is little in the Budget that is likely to boost domestic private investment. There are neither any incentives for private investment nor support for public investment. To make matters worse, the Budget has actually projected a decline in central government capital expenditure (public investment) in 2019-20 by 6% in nominal terms. This is perhaps the first ever decline in public investment in the past half century, which, once adjusted for inflation, could measure over 10%. It is no wonder that the Finance Minister, shedding the convention of decades, did not mention any allocations for schemes in her speech and pushed all the numbers to the fine print.<br /><em><br />Same direction as before</em><br /><br />It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth. Some of the norms for foreign institutional investment (FII) are to be liberalised, so too for foreign portfolio investment (FPI) and ceilings on foreign direct investment (FDI) are to be raised in some sectors. More ominously, the government has now decided to go in for external commercial borrowings to meet part of its borrowing requirements, claiming that India&rsquo;s external debt to GDP ratio is very small. This is very much like what the governments of the 1980s did, which eventually led to the balance of payments crisis of the early 1990s. Why are we again heading in that direction?<br /><br />Please <a href="https://www.thehindu.com/opinion/op-ed/a-budget-that-goes-nowhere/article28298315.ece?fbclid=IwAR03uEKT4J4iacda-PV_wNpV866PbrpRLXI4YfuhK_pDnvKncihX9ZGRo1E" title="https://www.thehindu.com/opinion/op-ed/a-budget-that-goes-nowhere/article28298315.ece?fbclid=IwAR03uEKT4J4iacda-PV_wNpV866PbrpRLXI4YfuhK_pDnvKncihX9ZGRo1E">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://www.thehindu.com/opinion/op-ed/a-budget-that-goes-nowhere/article28298315.ece?fbclid=IwAR03uEKT4J4iacda-PV_wNpV866PbrpRLXI4YfuhK_pDnvKncihX9ZGRo1E" class="re" target="_blank">The Hindu, 6 July, 2019, https://www.thehindu.com/opinion/op-ed/a-budget-that-goes-nowhere/article28298315.ece?fbclid=IwAR03uEKT4J4iacda-PV_wNpV866PbrpRLXI4YfuhK_pDnvKncihX9ZGRo1E</a><div class="clear"></div>
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Home हिन्दी

A Budget that goes nowhere -C Rammanohar Reddy

Published on Jul 6, 2019   Modified on Jul 6, 2019

-The Hindu It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth Union Finance Minister Nirmala Sitharaman is mistaken if she thinks her first Budget is going to revive a slowing economy. The economy grew by just 5.8% in real terms in the last quarter of 2018-19. Yet, the Union Budget for 2019-20 assumes that the economy will grow this year by 12% in nominal terms, or by 7-8% in real terms. How can that dramatic a turnaround take place? Only if there is a sharp pick-up in investment — private and/or public. There is little in the Budget that is likely to boost domestic private investment. There are neither any incentives for private investment nor support for public investment. To make matters worse, the Budget has actually projected a decline in central government capital expenditure (public investment) in 2019-20 by 6% in nominal terms. This is perhaps the first ever decline in public investment in the past half century, which, once adjusted for inflation, could measure over 10%. It is no wonder that the Finance Minister, shedding the convention of decades, did not mention any allocations for schemes in her speech and pushed all the numbers to the fine print. Same direction as before It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth. Some of the norms for foreign institutional investment (FII) are to be liberalised, so too for foreign portfolio investment (FPI) and ceilings on foreign direct investment (FDI) are to be raised in some sectors. More ominously, the government has now decided to go in for external commercial borrowings to meet part of its borrowing requirements, claiming that India’s external debt to GDP ratio is very small. This is very much like what the governments of the 1980s did, which eventually led to the balance of payments crisis of the early 1990s. Why are we again heading in that direction? Please click here to read more.

The Hindu, 6 July, 2019, https://www.thehindu.com/opinion/op-ed/a-budget-that-goes-nowhere/article28298315.ece?fbclid=IwAR03uEKT4J4iacda-PV_wNpV866PbrpRLXI4YfuhK_pDnvKncihX9ZGRo1E

Tagged with: Union Budget Foreign Portfolio Investment FPI Foreign Institutional Investment FII Tax Revenue Interim Budget

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