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: 73
 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::printArticle() - APP/Controller/ArtileDetailController.php, line 73
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 88
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: 74
 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::printArticle() - APP/Controller/ArtileDetailController.php, line 74
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 88
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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-The Economic Times&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in the union budget.&lt;br /&gt;
&lt;br /&gt;
In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.&lt;br /&gt;
&lt;br /&gt;
India&amp;rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.&lt;br /&gt;
&lt;br /&gt;
A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.&lt;br /&gt;
&lt;br /&gt;
However, that may be tough going by the CAG&amp;rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.&lt;br /&gt;
&lt;br /&gt;
ET has reviewed a copy of the CAG&amp;rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. &lt;br /&gt;
&lt;br /&gt;
In a statement describing the meeting released on July 8, the FC said the issue of &amp;ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&amp;rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &amp;ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&amp;rsquo;&amp;rsquo;, the release said.&lt;br /&gt;
&lt;br /&gt;
CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&amp;rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. &lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;br /&gt;
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		&#039;credit_writer&#039; =&gt; &#039;The Economic Times, 24 July, 2019, https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=m&#039;,
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-The Economic Times

India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.

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	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Economic Times&lt;br /&gt;&lt;br /&gt;&lt;em&gt;India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in the union budget.&lt;br /&gt;&lt;br /&gt;In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.&lt;br /&gt;&lt;br /&gt;India&amp;rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.&lt;br /&gt;&lt;br /&gt;A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.&lt;br /&gt;&lt;br /&gt;However, that may be tough going by the CAG&amp;rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.&lt;br /&gt;&lt;br /&gt;ET has reviewed a copy of the CAG&amp;rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. &lt;br /&gt;&lt;br /&gt;In a statement describing the meeting released on July 8, the FC said the issue of &amp;ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&amp;rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &amp;ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&amp;rsquo;&amp;rsquo;, the release said.&lt;br /&gt;&lt;br /&gt;CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&amp;rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. &lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot; title=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;br /&gt;&lt;/div&gt;&#039;,
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&lt;br /&gt;
&lt;em&gt;India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in the union budget.&lt;br /&gt;
&lt;br /&gt;
In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.&lt;br /&gt;
&lt;br /&gt;
India&amp;rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.&lt;br /&gt;
&lt;br /&gt;
A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.&lt;br /&gt;
&lt;br /&gt;
However, that may be tough going by the CAG&amp;rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.&lt;br /&gt;
&lt;br /&gt;
ET has reviewed a copy of the CAG&amp;rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. &lt;br /&gt;
&lt;br /&gt;
In a statement describing the meeting released on July 8, the FC said the issue of &amp;ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&amp;rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &amp;ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&amp;rsquo;&amp;rsquo;, the release said.&lt;br /&gt;
&lt;br /&gt;
CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&amp;rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. &lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Economic Times, 24 July, 2019, https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=m&#039;,
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-The Economic Times

India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.

The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in...&#039;
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-The Economic Times

India&rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.

The Comptroller and Auditor General (CAG) has said that the central government&rsquo;s key deficit figures may be considerably higher than those stated in..."/>
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                <strong>CAG demonstrates how govt relies on off-budget resources to fund deficit - Dinesh Narayanan</strong></h1>
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                <div align="justify">-The Economic Times<br /><br /><em>India&rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.<br /></em><br />The Comptroller and Auditor General (CAG) has said that the central government&rsquo;s key deficit figures may be considerably higher than those stated in the union budget.<br /><br />In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.<br /><br />India&rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.<br /><br />A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.<br /><br />However, that may be tough going by the CAG&rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.<br /><br />ET has reviewed a copy of the CAG&rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. <br /><br />In a statement describing the meeting released on July 8, the FC said the issue of &ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&rsquo;&rsquo;, the release said.<br /><br />CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. <br /><br />Please <a href="https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr" title="https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr">click here</a> to read more. <br /><br /></div>               </font>
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-The Economic Times&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in the union budget.&lt;br /&gt;
&lt;br /&gt;
In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.&lt;br /&gt;
&lt;br /&gt;
India&amp;rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.&lt;br /&gt;
&lt;br /&gt;
A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.&lt;br /&gt;
&lt;br /&gt;
However, that may be tough going by the CAG&amp;rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.&lt;br /&gt;
&lt;br /&gt;
ET has reviewed a copy of the CAG&amp;rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. &lt;br /&gt;
&lt;br /&gt;
In a statement describing the meeting released on July 8, the FC said the issue of &amp;ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&amp;rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &amp;ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&amp;rsquo;&amp;rsquo;, the release said.&lt;br /&gt;
&lt;br /&gt;
CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&amp;rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. &lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;The Economic Times, 24 July, 2019, https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=m&#039;,
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-The Economic Times

India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.

The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Economic Times&lt;br /&gt;&lt;br /&gt;&lt;em&gt;India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in the union budget.&lt;br /&gt;&lt;br /&gt;In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.&lt;br /&gt;&lt;br /&gt;India&amp;rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.&lt;br /&gt;&lt;br /&gt;A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.&lt;br /&gt;&lt;br /&gt;However, that may be tough going by the CAG&amp;rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.&lt;br /&gt;&lt;br /&gt;ET has reviewed a copy of the CAG&amp;rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. &lt;br /&gt;&lt;br /&gt;In a statement describing the meeting released on July 8, the FC said the issue of &amp;ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&amp;rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &amp;ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&amp;rsquo;&amp;rsquo;, the release said.&lt;br /&gt;&lt;br /&gt;CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&amp;rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. &lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot; title=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;br /&gt;&lt;/div&gt;&#039;,
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-The Economic Times&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in the union budget.&lt;br /&gt;
&lt;br /&gt;
In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.&lt;br /&gt;
&lt;br /&gt;
India&amp;rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.&lt;br /&gt;
&lt;br /&gt;
A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.&lt;br /&gt;
&lt;br /&gt;
However, that may be tough going by the CAG&amp;rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.&lt;br /&gt;
&lt;br /&gt;
ET has reviewed a copy of the CAG&amp;rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. &lt;br /&gt;
&lt;br /&gt;
In a statement describing the meeting released on July 8, the FC said the issue of &amp;ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&amp;rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &amp;ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&amp;rsquo;&amp;rsquo;, the release said.&lt;br /&gt;
&lt;br /&gt;
CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&amp;rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. &lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Economic Times, 24 July, 2019, https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=m&#039;,
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-The Economic Times

India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.

The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in...&#039;
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-The Economic Times

India&rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.

The Comptroller and Auditor General (CAG) has said that the central government&rsquo;s key deficit figures may be considerably higher than those stated in..."/>
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                <strong>CAG demonstrates how govt relies on off-budget resources to fund deficit - Dinesh Narayanan</strong></h1>
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                <div align="justify">-The Economic Times<br /><br /><em>India&rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.<br /></em><br />The Comptroller and Auditor General (CAG) has said that the central government&rsquo;s key deficit figures may be considerably higher than those stated in the union budget.<br /><br />In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.<br /><br />India&rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.<br /><br />A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.<br /><br />However, that may be tough going by the CAG&rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.<br /><br />ET has reviewed a copy of the CAG&rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. <br /><br />In a statement describing the meeting released on July 8, the FC said the issue of &ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&rsquo;&rsquo;, the release said.<br /><br />CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. <br /><br />Please <a href="https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr" title="https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr">click here</a> to read more. <br /><br /></div>               </font>
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-The Economic Times&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in the union budget.&lt;br /&gt;
&lt;br /&gt;
In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.&lt;br /&gt;
&lt;br /&gt;
India&amp;rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.&lt;br /&gt;
&lt;br /&gt;
A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.&lt;br /&gt;
&lt;br /&gt;
However, that may be tough going by the CAG&amp;rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.&lt;br /&gt;
&lt;br /&gt;
ET has reviewed a copy of the CAG&amp;rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. &lt;br /&gt;
&lt;br /&gt;
In a statement describing the meeting released on July 8, the FC said the issue of &amp;ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&amp;rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &amp;ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&amp;rsquo;&amp;rsquo;, the release said.&lt;br /&gt;
&lt;br /&gt;
CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&amp;rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. &lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&#039;,
		&#039;credit_writer&#039; =&gt; &#039;The Economic Times, 24 July, 2019, https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=m&#039;,
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-The Economic Times

India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.

The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-The Economic Times&lt;br /&gt;&lt;br /&gt;&lt;em&gt;India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in the union budget.&lt;br /&gt;&lt;br /&gt;In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.&lt;br /&gt;&lt;br /&gt;India&amp;rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.&lt;br /&gt;&lt;br /&gt;A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.&lt;br /&gt;&lt;br /&gt;However, that may be tough going by the CAG&amp;rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.&lt;br /&gt;&lt;br /&gt;ET has reviewed a copy of the CAG&amp;rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. &lt;br /&gt;&lt;br /&gt;In a statement describing the meeting released on July 8, the FC said the issue of &amp;ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&amp;rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &amp;ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&amp;rsquo;&amp;rsquo;, the release said.&lt;br /&gt;&lt;br /&gt;CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&amp;rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. &lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot; title=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;br /&gt;&lt;/div&gt;&#039;,
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-The Economic Times&lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in the union budget.&lt;br /&gt;
&lt;br /&gt;
In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.&lt;br /&gt;
&lt;br /&gt;
India&amp;rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.&lt;br /&gt;
&lt;br /&gt;
A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.&lt;br /&gt;
&lt;br /&gt;
However, that may be tough going by the CAG&amp;rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.&lt;br /&gt;
&lt;br /&gt;
ET has reviewed a copy of the CAG&amp;rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. &lt;br /&gt;
&lt;br /&gt;
In a statement describing the meeting released on July 8, the FC said the issue of &amp;ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&amp;rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &amp;ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&amp;rsquo;&amp;rsquo;, the release said.&lt;br /&gt;
&lt;br /&gt;
CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&amp;rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. &lt;br /&gt;
&lt;br /&gt;
Please &lt;a href=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;
&lt;br /&gt;
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Economic Times, 24 July, 2019, https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=m&#039;,
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-The Economic Times

India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.

The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-The Economic Times&lt;br /&gt;&lt;br /&gt;&lt;em&gt;India&amp;rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;The Comptroller and Auditor General (CAG) has said that the central government&amp;rsquo;s key deficit figures may be considerably higher than those stated in the union budget.&lt;br /&gt;&lt;br /&gt;In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.&lt;br /&gt;&lt;br /&gt;India&amp;rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.&lt;br /&gt;&lt;br /&gt;A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.&lt;br /&gt;&lt;br /&gt;However, that may be tough going by the CAG&amp;rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.&lt;br /&gt;&lt;br /&gt;ET has reviewed a copy of the CAG&amp;rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. &lt;br /&gt;&lt;br /&gt;In a statement describing the meeting released on July 8, the FC said the issue of &amp;ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&amp;rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &amp;ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&amp;rsquo;&amp;rsquo;, the release said.&lt;br /&gt;&lt;br /&gt;CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&amp;rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. &lt;br /&gt;&lt;br /&gt;Please &lt;a href=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot; title=&quot;https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr&quot;&gt;click here&lt;/a&gt; to read more. &lt;br /&gt;&lt;br /&gt;&lt;/div&gt;&#039;
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-The Economic Times

India&rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.

The Comptroller and Auditor General (CAG) has said that the central government&rsquo;s key deficit figures may be considerably higher than those stated in..."/>
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                <strong>CAG demonstrates how govt relies on off-budget resources to fund deficit - Dinesh Narayanan</strong></h1>
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                <div align="justify">-The Economic Times<br /><br /><em>India&rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.<br /></em><br />The Comptroller and Auditor General (CAG) has said that the central government&rsquo;s key deficit figures may be considerably higher than those stated in the union budget.<br /><br />In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.<br /><br />India&rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.<br /><br />A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.<br /><br />However, that may be tough going by the CAG&rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.<br /><br />ET has reviewed a copy of the CAG&rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. <br /><br />In a statement describing the meeting released on July 8, the FC said the issue of &ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&rsquo;&rsquo;, the release said.<br /><br />CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. <br /><br />Please <a href="https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr" title="https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr">click here</a> to read more. <br /><br /></div>               </font>
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-The Economic Times<br />
<br />
<em>India&rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.<br />
</em><br />
The Comptroller and Auditor General (CAG) has said that the central government&rsquo;s key deficit figures may be considerably higher than those stated in the union budget.<br />
<br />
In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.<br />
<br />
India&rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.<br />
<br />
A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.<br />
<br />
However, that may be tough going by the CAG&rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.<br />
<br />
ET has reviewed a copy of the CAG&rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. <br />
<br />
In a statement describing the meeting released on July 8, the FC said the issue of &ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&rsquo;&rsquo;, the release said.<br />
<br />
CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. <br />
<br />
Please <a href="https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr">click here</a> to read more. <br />
<br />
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	'metaTitle' => 'LATEST NEWS UPDATES | CAG demonstrates how govt relies on off-budget resources to fund deficit - Dinesh Narayanan',
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-The Economic Times

India&rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.

The Comptroller and Auditor General (CAG) has said that the central government&rsquo;s key deficit figures may be considerably higher than those stated in...',
	'disp' => '<div align="justify">-The Economic Times<br /><br /><em>India&rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.<br /></em><br />The Comptroller and Auditor General (CAG) has said that the central government&rsquo;s key deficit figures may be considerably higher than those stated in the union budget.<br /><br />In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.<br /><br />India&rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.<br /><br />A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.<br /><br />However, that may be tough going by the CAG&rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.<br /><br />ET has reviewed a copy of the CAG&rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. <br /><br />In a statement describing the meeting released on July 8, the FC said the issue of &ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&rsquo;&rsquo;, the release said.<br /><br />CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. <br /><br />Please <a href="https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr" title="https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr">click here</a> to read more. <br /><br /></div>',
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	'title' => 'CAG demonstrates how govt relies on off-budget resources to fund deficit - Dinesh Narayanan',
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-The Economic Times<br />
<br />
<em>India&rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.<br />
</em><br />
The Comptroller and Auditor General (CAG) has said that the central government&rsquo;s key deficit figures may be considerably higher than those stated in the union budget.<br />
<br />
In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.<br />
<br />
India&rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.<br />
<br />
A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.<br />
<br />
However, that may be tough going by the CAG&rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.<br />
<br />
ET has reviewed a copy of the CAG&rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. <br />
<br />
In a statement describing the meeting released on July 8, the FC said the issue of &ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&rsquo;&rsquo;, the release said.<br />
<br />
CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. <br />
<br />
Please <a href="https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr">click here</a> to read more. <br />
<br />
</div>',
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-The Economic Times

India&rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.

The Comptroller and Auditor General (CAG) has said that the central government&rsquo;s key deficit figures may be considerably higher than those stated in...'
$disp = '<div align="justify">-The Economic Times<br /><br /><em>India&rsquo;s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings.<br /></em><br />The Comptroller and Auditor General (CAG) has said that the central government&rsquo;s key deficit figures may be considerably higher than those stated in the union budget.<br /><br />In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year.<br /><br />India&rsquo;s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts.<br /><br />A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21.<br /><br />However, that may be tough going by the CAG&rsquo;s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported.<br /><br />ET has reviewed a copy of the CAG&rsquo;s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. <br /><br />In a statement describing the meeting released on July 8, the FC said the issue of &ldquo;fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments&rdquo;. The release, however, had not given specific numbers. The meeting discussed, among other things, &ldquo;under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target&rsquo;&rsquo;, the release said.<br /><br />CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget&rsquo;s numbers causes a sharp rise in deficit figures for fiscal year 2018. <br /><br />Please <a href="https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr" title="https://economictimes.indiatimes.com/news/economy/indicators/cag-demonstrates-how-govt-relies-on-off-budget-resources-to-fund-deficit/articleshow/70360281.cms?from=mdr">click here</a> to read more. <br /><br /></div>'
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CAG demonstrates how govt relies on off-budget resources to fund deficit - Dinesh Narayanan

-The Economic Times India’s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings. The Comptroller and Auditor General (CAG) has said that the central government’s key deficit figures may be considerably higher than those stated in the union budget. In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for in the budget reflect the correct picture. To make its point, the auditor re-calculated the fiscal deficit of 2017-18 to show that it actually works out to 5.85%. The government had reported a fiscal deficit of 3.46% that year. India’s deficit numbers have come under sharp scrutiny as the government has been increasingly depending on off-budget borrowings to fund capital expenditure and even revenue expenditure such as food and fertiliser subsidy arrears. However, the reporting is such that the actual extent of the borrowing is unclear even to budget experts. A July 4 government press release after the Economic Survey was tabled in Parliament said the general government (centre and states) has been on the path of fiscal consolidation and fiscal discipline. The combined fiscal deficit of the centre and states had declined from 6.4% in 2017-18 to 5.8% in 2018-19, it said and added that public finances were well aligned to the glide path to achieving fiscal deficit of 3% of GDP by 2020-21. However, that may be tough going by the CAG’s methodology of calculating the deficit. The auditor has also found that the revenue deficit in 2017-18 was actually 3.48% of GDP and not 2.59% as reported. ET has reviewed a copy of the CAG’s presentation. Questionnaires sent to the finance ministry, FFC and CAG on July 15 remain unanswered until now. In a statement describing the meeting released on July 8, the FC said the issue of “fiscal transparency in the fiscal reporting of the Union and state governments was discussed especially in the light of increasing trend of off-budget and extra-budgetary resource raising by the governments”. The release, however, had not given specific numbers. The meeting discussed, among other things, “under-reporting of deficit, debt; potential risks of absence of revenue deficit as a target’’, the release said. CAG estimated off-budget borrowings for revenue expenditure at 0.96% of GDP, and off-budget borrowings for capital expenditure at 1.43% of GDP. Adding these to the budget’s numbers causes a sharp rise in deficit figures for fiscal year 2018. Please click here to read more.