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
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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
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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 | Are we overestimating the fiscal boost to the economy? -Roshan Kishore    </title>
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                            <p style="text-align:justify">-Hindustan Times</p><p style="text-align:justify"><em>Gross domestic product (GDP) statistics are released at both current and constant prices. The latter discounts inflation (more on this later) from the base year of the current GDP series.</em></p><p style="text-align:justify">Let&rsquo;s assume it takes a tonne of steel to build half a kilometre of road. Let&rsquo;s also assume steel costs 1,000 a tonne and there is a tax of 10% on steel. Now, if steel prices doubled in a year, then government spending and taxes from steel will also double, although the length of road remains the same. Prices do not typically double in a year, but this hypothetical example shows that in years of abnormal inflationary movements, fiscal waters can easily get muddied. The 2021-22 financial year could be one such year for the Indian economy. Here are four charts that explain why.</p><p style="text-align:justify"><em>Nominal growth component of the GDP has been increasing</em></p><p style="text-align:justify">Gross domestic product (GDP) statistics are released at both current and constant prices. The latter discounts inflation (more on this later) from the base year of the current GDP series. While real GDP matters to track the growth of actual output, nominal numbers are important on at least two counts: government finances and terms of trade, or ratio of prices, between sectors. A look at quarterly GDP statistics shows that the nominal growth component, or the difference between current and constant price growth, has increased sharply in the current fiscal year that ends in March 2022. At 11.6 and 9.1 percentage points in the June and September quarters, the nominal growth component was the highest since September 2011.</p><p style="text-align:justify">Please <a href="https://www.hindustantimes.com/analysis/will-just-a-capex-focus-in-the-budget-work-for-the-economy-101641548160682.html" title="https://www.hindustantimes.com/analysis/will-just-a-capex-focus-in-the-budget-work-for-the-economy-101641548160682.html">click here</a> to read more.&nbsp;</p>                                                           
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                            <p style="text-align:justify">-Hindustan Times</p><p style="text-align:justify"><em>Gross domestic product (GDP) statistics are released at both current and constant prices. The latter discounts inflation (more on this later) from the base year of the current GDP series.</em></p><p style="text-align:justify">Let&rsquo;s assume it takes a tonne of steel to build half a kilometre of road. Let&rsquo;s also assume steel costs 1,000 a tonne and there is a tax of 10% on steel. Now, if steel prices doubled in a year, then government spending and taxes from steel will also double, although the length of road remains the same. Prices do not typically double in a year, but this hypothetical example shows that in years of abnormal inflationary movements, fiscal waters can easily get muddied. The 2021-22 financial year could be one such year for the Indian economy. Here are four charts that explain why.</p><p style="text-align:justify"><em>Nominal growth component of the GDP has been increasing</em></p><p style="text-align:justify">Gross domestic product (GDP) statistics are released at both current and constant prices. The latter discounts inflation (more on this later) from the base year of the current GDP series. While real GDP matters to track the growth of actual output, nominal numbers are important on at least two counts: government finances and terms of trade, or ratio of prices, between sectors. A look at quarterly GDP statistics shows that the nominal growth component, or the difference between current and constant price growth, has increased sharply in the current fiscal year that ends in March 2022. At 11.6 and 9.1 percentage points in the June and September quarters, the nominal growth component was the highest since September 2011.</p><p style="text-align:justify">Please <a href="https://www.hindustantimes.com/analysis/will-just-a-capex-focus-in-the-budget-work-for-the-economy-101641548160682.html" title="https://www.hindustantimes.com/analysis/will-just-a-capex-focus-in-the-budget-work-for-the-economy-101641548160682.html">click here</a> to read more.&nbsp;</p>                                                           
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    <h1 class="cat-box-title">Are we overestimating the fiscal boost to the economy? -Roshan Kishore</h1>
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                            <p style="text-align:justify">-Hindustan Times</p><p style="text-align:justify"><em>Gross domestic product (GDP) statistics are released at both current and constant prices. The latter discounts inflation (more on this later) from the base year of the current GDP series.</em></p><p style="text-align:justify">Let&rsquo;s assume it takes a tonne of steel to build half a kilometre of road. Let&rsquo;s also assume steel costs 1,000 a tonne and there is a tax of 10% on steel. Now, if steel prices doubled in a year, then government spending and taxes from steel will also double, although the length of road remains the same. Prices do not typically double in a year, but this hypothetical example shows that in years of abnormal inflationary movements, fiscal waters can easily get muddied. The 2021-22 financial year could be one such year for the Indian economy. Here are four charts that explain why.</p><p style="text-align:justify"><em>Nominal growth component of the GDP has been increasing</em></p><p style="text-align:justify">Gross domestic product (GDP) statistics are released at both current and constant prices. The latter discounts inflation (more on this later) from the base year of the current GDP series. While real GDP matters to track the growth of actual output, nominal numbers are important on at least two counts: government finances and terms of trade, or ratio of prices, between sectors. A look at quarterly GDP statistics shows that the nominal growth component, or the difference between current and constant price growth, has increased sharply in the current fiscal year that ends in March 2022. At 11.6 and 9.1 percentage points in the June and September quarters, the nominal growth component was the highest since September 2011.</p><p style="text-align:justify">Please <a href="https://www.hindustantimes.com/analysis/will-just-a-capex-focus-in-the-budget-work-for-the-economy-101641548160682.html" title="https://www.hindustantimes.com/analysis/will-just-a-capex-focus-in-the-budget-work-for-the-economy-101641548160682.html">click here</a> to read more.&nbsp;</p>                                                           
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Are we overestimating the fiscal boost to the economy? -Roshan Kishore

Published on Jan 7, 2022   Modified on Jan 8, 2022

-Hindustan Times Gross domestic product (GDP) statistics are released at both current and constant prices. The latter discounts inflation (more on this later) from the base year of the current GDP series. Let’s assume it takes a tonne of steel to build half a kilometre of road. Let’s also assume steel costs 1,000 a tonne and there is a tax of 10% on steel. Now, if steel prices doubled in a year, then government spending and taxes from steel will also double, although the length of road remains the same. Prices do not typically double in a year, but this hypothetical example shows that in years of abnormal inflationary movements, fiscal waters can easily get muddied. The 2021-22 financial year could be one such year for the Indian economy. Here are four charts that explain why. Nominal growth component of the GDP has been increasing Gross domestic product (GDP) statistics are released at both current and constant prices. The latter discounts inflation (more on this later) from the base year of the current GDP series. While real GDP matters to track the growth of actual output, nominal numbers are important on at least two counts: government finances and terms of trade, or ratio of prices, between sectors. A look at quarterly GDP statistics shows that the nominal growth component, or the difference between current and constant price growth, has increased sharply in the current fiscal year that ends in March 2022. At 11.6 and 9.1 percentage points in the June and September quarters, the nominal growth component was the highest since September 2011. Please click here to read more.

Hindustan Times, 7 January, 2022, https://www.hindustantimes.com/analysis/will-just-a-capex-focus-in-the-budget-work-for-the-economy-101641548160682.html

Tagged with: Revenue Expenditure Capital Expenditure Union Budget Fiscal Spending

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