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
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
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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\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

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')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

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        LATEST NEWS UPDATES | Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu    </title>
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While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does..."/>
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-TheWire.in

While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.

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    <h1 class="cat-box-title">Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu</h1>
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                            <div align="justify">-TheWire.in<br /><em><br />While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.</em><br /><br />The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. <br /><br />Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&rsquo;s own manufacturing and agriculture output trending downward for some time. <br /><br />The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&rsquo;s balance sheet as &ldquo;surpluses&rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. <br /><br />Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&rsquo;s justification for partially dollar-ising India&rsquo;s fiscal deficit is that the country&rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. <br /><br />In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.<br /><br />Please <a href="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth" title="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth" class="re" target="_blank">TheWire.in, 5 July, 2019, https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth</a><div class="clear"></div>
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    <h1 class="cat-box-title">Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu</h1>
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                            <div align="justify">-TheWire.in<br /><em><br />While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.</em><br /><br />The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. <br /><br />Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&rsquo;s own manufacturing and agriculture output trending downward for some time. <br /><br />The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&rsquo;s balance sheet as &ldquo;surpluses&rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. <br /><br />Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&rsquo;s justification for partially dollar-ising India&rsquo;s fiscal deficit is that the country&rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. <br /><br />In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.<br /><br />Please <a href="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth" title="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth">click here</a> to read more. <br /></div>                                                           
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While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.

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While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.

The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does..." />
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                            <div align="justify">-TheWire.in<br /><em><br />While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier.</em><br /><br />The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in &lsquo;New India&rsquo;, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. <br /><br />Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi&rsquo;s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India&rsquo;s own manufacturing and agriculture output trending downward for some time. <br /><br />The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI&rsquo;s balance sheet as &ldquo;surpluses&rdquo;. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. <br /><br />Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister&rsquo;s justification for partially dollar-ising India&rsquo;s fiscal deficit is that the country&rsquo;s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. <br /><br />In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets.<br /><br />Please <a href="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth" title="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth" class="re" target="_blank">TheWire.in, 5 July, 2019, https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth</a><div class="clear"></div>
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Budget 2019 Sorely Lacks a Coherent Vision for Long-Term Growth -MK Venu

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

-TheWire.in While Nirmala Sitharaman's maiden budget hit all the right political notes, its fiscal math is far fuzzier. The first budget of the Narendra Modi government 2.0 is very high on political rhetoric around empowering the poorest in ‘New India’, but does not have a clear road map of how a fully-funded welfare state will be sustained without a robust revival in growth, based on the twin engines of investment and consumption firing simultaneously. Finance minister Nirmala Sitharaman has made all the right noises, reflecting Modi’s pet themes of last mile welfare delivery, but there was no cohesive strategy on how growth will revive amidst a softening global economy and India’s own manufacturing and agriculture output trending downward for some time. The budgeted revenue math is so shaky that for the first time the finance ministry has chosen to factor in receipts of Rs 90,000 crore from the RBI’s balance sheet as “surpluses”. That this is being done even before the Bimal Jalan committee has made public its recommendations shows there is a desperation to raise funds to meet the massive physical and social infrastructure needs which may help boost employment. Another potentially risky strategy being envisaged by the government for the first time is to raise sovereign debt via dollar denominated bonds to fund the needs of infrastructure. The finance minister’s justification for partially dollar-ising India’s fiscal deficit is that the country’s total external borrowings are below the safe limit of 5% of GDP. Normally, sovereign borrowing by nations is for big amounts, in the range of $5 billion to $10 billion. Governments in the past have considered the idea but eventually dropped it because the dollar debt has to be repaid in hard currency and carries immense exchange risk. In any case, raising such money has other imponderables as it would create a benchmark for India vis a vis other countries like China in the global markets. Please click here to read more.

TheWire.in, 5 July, 2019, https://thewire.in/economy/budget-2019-lacks-a-coherent-vision-for-long-term-growth

Tagged with: Non-Performing Assets Union Budget Economic Growth GDP growth NPAs

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