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\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

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


        trigger_error($message, E_USER_DEPRECATED);

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

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

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        LATEST NEWS UPDATES | ‘Convenient accounting’ of subsidies to hit new Govt-Puja Mehra    </title>
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-The Hindu


&nbsp;


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Move to push this year's expenditure to next fiscal is intended to keep the fiscal deficit within target


The Finance Minister of the next government post-elections will have to pay the price for the United Progressive Alliance's (UPA) subsidy and..."/>
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-The Hindu


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Move to push this year's expenditure to next fiscal is intended to keep the fiscal deficit within target


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                            <div align="justify">-The Hindu</div><p align="justify">&nbsp;</p><p align="justify">&nbsp;</p><p align="justify"><em>Move to push this year's expenditure to next fiscal is intended to keep the fiscal deficit within target</em></p><p align="justify">The Finance Minister of the next government post-elections will have to pay the price for the United Progressive Alliance's (UPA) subsidy and social spend. The Finance Ministry plans to book in next financial year, 2014-15, the expenditure that will be incurred on subsidies during the remaining months of the current fiscal (January-March).</p><p align="justify"><img src="https://im4change.in/siteadmin/tinymce/uploaded/Subsidy_1.JPG" alt="subsidy" width="576" height="268" /> </p><p align="justify">Pushing this year's expenditure to the next fiscal's accounts will keep the fiscal deficit for 2013-14 within the target of 4.8 per cent of gross domestic product (GDP) - at least on paper.</p><p align="justify">Highly-placed sources told The Hindu that this &lsquo;convenient accounting' will &lsquo;artificially' limit the fiscal deficit this year but make it a headache for the next Finance Minister who will have to raise the resources needed to foot the bill for the fuel, food and fertilizer subsidies for January-March, 2013. The Budget Estimates (BE) for 2013-14 for these subsidies is Rs.2.21 lakh crore. The Finance Ministry has not so far raised before Parliament a demand for additional grants for these subsidies. However, as per latest official data, at the end of November, 2013, the fiscal deficit was already 94 per cent of the BE for 2013-14. With four months still to go in the current fiscal year, the Finance Ministry has limited space to manage the fiscal deficit, the excess of the government's expenditure over its income. The UPA Government has not been able to garner through disinvestments the Rs.40,000 crore projected in the Union Budget. Moreover, tax collections are growing at a rate less than the target of 19 per cent. Union Finance Minister P. Chidambaram has pressed in budget cuts in social schemes in an election year to keep the fiscal deficit below 4.8 per cent but they are not going to be enough.</p><p align="justify">To make up for these cuts, the Finance Ministry has also sought from the big-spend ministries, including those for rural development, roads and health, estimates of expenditures that could be booked in the month of April.</p><p align="justify">Mr. Chidambaram has said that the UPA Government will not let the India's fiscal deficit for 2013-14 breach the 4.8-per cent target. International rating agencies have warned that a slip-up will trigger a rating downgrade for India.</p><p align="justify">Senior Finance Ministry officials confirmed to The Hindu: &quot;The subsidy bill of the last quarter of 2013-14 will be accounted for in the month of April so it will reflect in the expenditure for the next financial year or 2014-15.&quot; They added that it was not unusual for the Finance Ministry to roll over expenditure from one financial year to the next.</p>                                                           
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Move to push this year's expenditure to next fiscal is intended to keep the fiscal deficit within target


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    <h1 class="cat-box-title">‘Convenient accounting’ of subsidies to hit new Govt-Puja Mehra</h1>
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                            <div align="justify">-The Hindu</div><p align="justify">&nbsp;</p><p align="justify">&nbsp;</p><p align="justify"><em>Move to push this year's expenditure to next fiscal is intended to keep the fiscal deficit within target</em></p><p align="justify">The Finance Minister of the next government post-elections will have to pay the price for the United Progressive Alliance's (UPA) subsidy and social spend. The Finance Ministry plans to book in next financial year, 2014-15, the expenditure that will be incurred on subsidies during the remaining months of the current fiscal (January-March).</p><p align="justify"><img src="https://im4change.in/siteadmin/tinymce/uploaded/Subsidy_1.JPG" alt="subsidy" width="576" height="268" /> </p><p align="justify">Pushing this year's expenditure to the next fiscal's accounts will keep the fiscal deficit for 2013-14 within the target of 4.8 per cent of gross domestic product (GDP) - at least on paper.</p><p align="justify">Highly-placed sources told The Hindu that this &lsquo;convenient accounting' will &lsquo;artificially' limit the fiscal deficit this year but make it a headache for the next Finance Minister who will have to raise the resources needed to foot the bill for the fuel, food and fertilizer subsidies for January-March, 2013. The Budget Estimates (BE) for 2013-14 for these subsidies is Rs.2.21 lakh crore. The Finance Ministry has not so far raised before Parliament a demand for additional grants for these subsidies. However, as per latest official data, at the end of November, 2013, the fiscal deficit was already 94 per cent of the BE for 2013-14. With four months still to go in the current fiscal year, the Finance Ministry has limited space to manage the fiscal deficit, the excess of the government's expenditure over its income. The UPA Government has not been able to garner through disinvestments the Rs.40,000 crore projected in the Union Budget. Moreover, tax collections are growing at a rate less than the target of 19 per cent. Union Finance Minister P. Chidambaram has pressed in budget cuts in social schemes in an election year to keep the fiscal deficit below 4.8 per cent but they are not going to be enough.</p><p align="justify">To make up for these cuts, the Finance Ministry has also sought from the big-spend ministries, including those for rural development, roads and health, estimates of expenditures that could be booked in the month of April.</p><p align="justify">Mr. Chidambaram has said that the UPA Government will not let the India's fiscal deficit for 2013-14 breach the 4.8-per cent target. International rating agencies have warned that a slip-up will trigger a rating downgrade for India.</p><p align="justify">Senior Finance Ministry officials confirmed to The Hindu: &quot;The subsidy bill of the last quarter of 2013-14 will be accounted for in the month of April so it will reflect in the expenditure for the next financial year or 2014-15.&quot; They added that it was not unusual for the Finance Ministry to roll over expenditure from one financial year to the next.</p>                                                           
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        LATEST NEWS UPDATES | ‘Convenient accounting’ of subsidies to hit new Govt-Puja Mehra    </title>
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-The Hindu


&nbsp;


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Move to push this year's expenditure to next fiscal is intended to keep the fiscal deficit within target


The Finance Minister of the next government post-elections will have to pay the price for the United Progressive Alliance's (UPA) subsidy and..."/>
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-The Hindu


&nbsp;


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Move to push this year's expenditure to next fiscal is intended to keep the fiscal deficit within target


The Finance Minister of the next government post-elections will have to pay the price for the United Progressive Alliance's (UPA) subsidy and..." />
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    <h1 class="cat-box-title">‘Convenient accounting’ of subsidies to hit new Govt-Puja Mehra</h1>
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                            <div align="justify">-The Hindu</div><p align="justify">&nbsp;</p><p align="justify">&nbsp;</p><p align="justify"><em>Move to push this year's expenditure to next fiscal is intended to keep the fiscal deficit within target</em></p><p align="justify">The Finance Minister of the next government post-elections will have to pay the price for the United Progressive Alliance's (UPA) subsidy and social spend. The Finance Ministry plans to book in next financial year, 2014-15, the expenditure that will be incurred on subsidies during the remaining months of the current fiscal (January-March).</p><p align="justify"><img src="https://im4change.in/siteadmin/tinymce/uploaded/Subsidy_1.JPG" alt="subsidy" width="576" height="268" /> </p><p align="justify">Pushing this year's expenditure to the next fiscal's accounts will keep the fiscal deficit for 2013-14 within the target of 4.8 per cent of gross domestic product (GDP) - at least on paper.</p><p align="justify">Highly-placed sources told The Hindu that this &lsquo;convenient accounting' will &lsquo;artificially' limit the fiscal deficit this year but make it a headache for the next Finance Minister who will have to raise the resources needed to foot the bill for the fuel, food and fertilizer subsidies for January-March, 2013. The Budget Estimates (BE) for 2013-14 for these subsidies is Rs.2.21 lakh crore. The Finance Ministry has not so far raised before Parliament a demand for additional grants for these subsidies. However, as per latest official data, at the end of November, 2013, the fiscal deficit was already 94 per cent of the BE for 2013-14. With four months still to go in the current fiscal year, the Finance Ministry has limited space to manage the fiscal deficit, the excess of the government's expenditure over its income. The UPA Government has not been able to garner through disinvestments the Rs.40,000 crore projected in the Union Budget. Moreover, tax collections are growing at a rate less than the target of 19 per cent. Union Finance Minister P. Chidambaram has pressed in budget cuts in social schemes in an election year to keep the fiscal deficit below 4.8 per cent but they are not going to be enough.</p><p align="justify">To make up for these cuts, the Finance Ministry has also sought from the big-spend ministries, including those for rural development, roads and health, estimates of expenditures that could be booked in the month of April.</p><p align="justify">Mr. Chidambaram has said that the UPA Government will not let the India's fiscal deficit for 2013-14 breach the 4.8-per cent target. International rating agencies have warned that a slip-up will trigger a rating downgrade for India.</p><p align="justify">Senior Finance Ministry officials confirmed to The Hindu: &quot;The subsidy bill of the last quarter of 2013-14 will be accounted for in the month of April so it will reflect in the expenditure for the next financial year or 2014-15.&quot; They added that it was not unusual for the Finance Ministry to roll over expenditure from one financial year to the next.</p>                                                           
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    <br><a href="http://www.thehindu.com/business/Economy/convenient-accounting-of-subsidies-to-hit-new-govt/article5558577.ece?homepage=true" class="re" target="_blank">The Hindu, 10 January, 2014, http://www.thehindu.com/business/Economy/convenient-accounting-of-subsidies-to-hit-new-govt/article5558577.ece?homepage=true</a><div class="clear"></div>
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Home हिन्दी

‘Convenient accounting’ of subsidies to hit new Govt-Puja Mehra

Published on Jan 10, 2014   Modified on Jan 10, 2014

-The Hindu     Move to push this year's expenditure to next fiscal is intended to keep the fiscal deficit within target The Finance Minister of the next government post-elections will have to pay the price for the United Progressive Alliance's (UPA) subsidy and social spend. The Finance Ministry plans to book in next financial year, 2014-15, the expenditure that will be incurred on subsidies during the remaining months of the current fiscal (January-March). Pushing this year's expenditure to the next fiscal's accounts will keep the fiscal deficit for 2013-14 within the target of 4.8 per cent of gross domestic product (GDP) - at least on paper. Highly-placed sources told The Hindu that this ‘convenient accounting' will ‘artificially' limit the fiscal deficit this year but make it a headache for the next Finance Minister who will have to raise the resources needed to foot the bill for the fuel, food and fertilizer subsidies for January-March, 2013. The Budget Estimates (BE) for 2013-14 for these subsidies is Rs.2.21 lakh crore. The Finance Ministry has not so far raised before Parliament a demand for additional grants for these subsidies. However, as per latest official data, at the end of November, 2013, the fiscal deficit was already 94 per cent of the BE for 2013-14. With four months still to go in the current fiscal year, the Finance Ministry has limited space to manage the fiscal deficit, the excess of the government's expenditure over its income. The UPA Government has not been able to garner through disinvestments the Rs.40,000 crore projected in the Union Budget. Moreover, tax collections are growing at a rate less than the target of 19 per cent. Union Finance Minister P. Chidambaram has pressed in budget cuts in social schemes in an election year to keep the fiscal deficit below 4.8 per cent but they are not going to be enough. To make up for these cuts, the Finance Ministry has also sought from the big-spend ministries, including those for rural development, roads and health, estimates of expenditures that could be booked in the month of April. Mr. Chidambaram has said that the UPA Government will not let the India's fiscal deficit for 2013-14 breach the 4.8-per cent target. International rating agencies have warned that a slip-up will trigger a rating downgrade for India. Senior Finance Ministry officials confirmed to The Hindu: "The subsidy bill of the last quarter of 2013-14 will be accounted for in the month of April so it will reflect in the expenditure for the next financial year or 2014-15." They added that it was not unusual for the Finance Ministry to roll over expenditure from one financial year to the next.

The Hindu, 10 January, 2014, http://www.thehindu.com/business/Economy/convenient-accounting-of-subsidies-to-hit-new-govt/article5558577.ece?homepage=true

Tagged with: subsidies Budget Governance

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