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<p style="text-align:justify"><em>Uday Kotak highlights risks of not spending, says a lot will hinge on States’ approach to reopening.</em></p>
<p style="text-align:justify">India’s economy urgently needs increased fiscal spending from the government to support businesses that have suffered stress from the COVID-19-related disruptions, as well as households and individuals worst hit by the pandemic, CII president Uday Kotak said on Wednesday.</p>
<p style="text-align:justify">“I think the time has come for the fisc [fiscal authorities] to do a lot more in terms of supporting very specified, well-defined segments of the economy, including individuals and households,” Mr. Kotak said in an interview. “The government in its budget planning... has done a very conservative revenue estimate for 21/22 in terms of its targets, so I think they should do better in many areas.”</p>
<p style="text-align:justify">Arguing that the risks of not increasing fiscal spending at the current juncture were far greater than a possible overshoot of the government’s budgeted fiscal deficit target of 6.8%, Mr. Kotak said, “At a time like the pandemic, we need to support the economy to at least a base level, because otherwise that trend growth can get much more affected.” Observing that the higher-than-budgeted surplus pay-out by the Reserve Bank of India had already provided an additional cushion of about ₹50,000 crore to the government, the veteran banker said the CII had already suggested that the RBI ought to expand the size of its balance sheet in order to facilitate the anticipated higher level of government borrowing.</p>
<p style="text-align:justify">“Even if it [fiscal deficit] went a little above 6.8-7%, I think that’s not the end of the world, expand the fisc, support the weaker segments of society or stressed sectors,” he added.</p>
<p style="text-align:justify">After recommending stringent curbs on economic activity to contain the ‘suffering’ from the pandemic, Mr. Kotak earlier this month urged companies to take ‘voluntary measures’ to break the COVID transmission chain by minimising all in-person work. Mr. Kotak, who completes his term at CII’s helm on May 31, said the coming months would require careful calibration to revive the economy.</p>
<p style="text-align:justify">Please <a href="https://www.thehindu.com/business/Economy/cii-chief-uday-kotak-interview-more-fiscal-support-is-imperative/article34652775.ece?homepage=true">click here</a> to read more.</p>
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LATEST NEWS UPDATES | More fiscal support is imperative: CII chief -Suresh Seshadri </title>
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Uday Kotak highlights risks of not spending, says a lot will hinge on States’ approach to reopening.
India’s economy urgently needs increased fiscal spending from the government to support businesses that have suffered stress from the COVID-19-related disruptions, as well..."/>
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Uday Kotak highlights risks of not spending, says a lot will hinge on States’ approach to reopening.
India’s economy urgently needs increased fiscal spending from the government to support businesses that have suffered stress from the COVID-19-related disruptions, as well..." />
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<a href="https://im4change.in/latest-news-updates/more-fiscal-support-is-imperative-cii-chief-suresh-seshadri.html" target="_blank"> More fiscal support is imperative: CII chief -Suresh Seshadri</a>
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<br><small>May 26, 2021</small>
<p style="padding-top: 6px;">-The Hindu
Uday Kotak highlights risks of not spending, says a lot will hinge on States’ approach to reopening.
India’s economy urgently needs increased fiscal spending from the government to support businesses that have suffered stress from the COVID-19-related disruptions, as well as households and individuals worst...</p>
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<br><small>May 26, 2021</small>
<p style="padding-top: 6px;">-TheLeaflet.in
Explaining the predicament of Micro, Small and Medium Enterprises (MSMEs) when opting for payment claims under the MSME Development Act, 2006, VIVEK SHARMA writes about why, in practice, the statutory compound interest enshrined in the law is rarely executed, and offers suggestions to bolster the...</p>
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<br><small>May 26, 2021</small>
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They will not only help capture the true scale of the tragedy, but will also help in planning better for the next waves of the pandemic.
In his memoirs, the writer Suryakant Tripathi (1896-1961), better known as Nirala, described the river Ganga as “swollen...</p>
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<br><small>May 25, 2021</small>
<p style="padding-top: 6px;">-TheWire.in
Can the Union government exercise its sovereignty in extending food subsidies to states during a historic crisis despite an enlarged fiscal deficit?
Some states have started responding to the Supreme Court’s directions on ensuring food security, cash transfers and transportation for migrant workers. It is time...</p>
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<br><small>May 25, 2021</small>
<p style="padding-top: 6px;">-ThePrint.in
In various state govts, the office of district magistrate has been reduced to a glorified post office that receives instructions from various govt departments.
Not so long ago, Prime Minister Narendra Modi had ridiculed India’s civil servants in Parliament when he questioned whether the government should...</p>
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<a href="https://im4change.in/latest-news-updates/more-fiscal-support-is-imperative-cii-chief-suresh-seshadri.html" target="_blank"> More fiscal support is imperative: CII chief -Suresh Seshadri</a>
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<br><small>May 26, 2021</small>
<p style="padding-top: 6px;">-The Hindu
Uday Kotak highlights risks of not spending, says a lot will hinge on States’ approach to reopening.
India’s economy urgently needs increased fiscal spending from the government to support businesses that have suffered stress from the COVID-19-related disruptions, as well as households and individuals worst...</p>
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<br><small>May 26, 2021</small>
<p style="padding-top: 6px;">-TheLeaflet.in
Explaining the predicament of Micro, Small and Medium Enterprises (MSMEs) when opting for payment claims under the MSME Development Act, 2006, VIVEK SHARMA writes about why, in practice, the statutory compound interest enshrined in the law is rarely executed, and offers suggestions to bolster the...</p>
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<br><small>May 26, 2021</small>
<p style="padding-top: 6px;">-The Indian Express
They will not only help capture the true scale of the tragedy, but will also help in planning better for the next waves of the pandemic.
In his memoirs, the writer Suryakant Tripathi (1896-1961), better known as Nirala, described the river Ganga as “swollen...</p>
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<br><small>May 25, 2021</small>
<p style="padding-top: 6px;">-TheWire.in
Can the Union government exercise its sovereignty in extending food subsidies to states during a historic crisis despite an enlarged fiscal deficit?
Some states have started responding to the Supreme Court’s directions on ensuring food security, cash transfers and transportation for migrant workers. It is time...</p>
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<br><small>May 25, 2021</small>
<p style="padding-top: 6px;">-ThePrint.in
In various state govts, the office of district magistrate has been reduced to a glorified post office that receives instructions from various govt departments.
Not so long ago, Prime Minister Narendra Modi had ridiculed India’s civil servants in Parliament when he questioned whether the government should...</p>
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<a href="https://im4change.in/latest-news-updates/more-fiscal-support-is-imperative-cii-chief-suresh-seshadri.html" target="_blank"> More fiscal support is imperative: CII chief -Suresh Seshadri</a>
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<br><small>May 26, 2021</small>
<p style="padding-top: 6px;">-The Hindu
Uday Kotak highlights risks of not spending, says a lot will hinge on States’ approach to reopening.
India’s economy urgently needs increased fiscal spending from the government to support businesses that have suffered stress from the COVID-19-related disruptions, as well as households and individuals worst...</p>
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<br><small>May 26, 2021</small>
<p style="padding-top: 6px;">-TheLeaflet.in
Explaining the predicament of Micro, Small and Medium Enterprises (MSMEs) when opting for payment claims under the MSME Development Act, 2006, VIVEK SHARMA writes about why, in practice, the statutory compound interest enshrined in the law is rarely executed, and offers suggestions to bolster the...</p>
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<br><small>May 26, 2021</small>
<p style="padding-top: 6px;">-The Indian Express
They will not only help capture the true scale of the tragedy, but will also help in planning better for the next waves of the pandemic.
In his memoirs, the writer Suryakant Tripathi (1896-1961), better known as Nirala, described the river Ganga as “swollen...</p>
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<br><small>May 25, 2021</small>
<p style="padding-top: 6px;">-TheWire.in
Can the Union government exercise its sovereignty in extending food subsidies to states during a historic crisis despite an enlarged fiscal deficit?
Some states have started responding to the Supreme Court’s directions on ensuring food security, cash transfers and transportation for migrant workers. It is time...</p>
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<br><small>May 25, 2021</small>
<p style="padding-top: 6px;">-ThePrint.in
In various state govts, the office of district magistrate has been reduced to a glorified post office that receives instructions from various govt departments.
Not so long ago, Prime Minister Narendra Modi had ridiculed India’s civil servants in Parliament when he questioned whether the government should...</p>
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LATEST NEWS UPDATES | More fiscal support is imperative: CII chief -Suresh Seshadri
-The Hindu
Uday Kotak highlights risks of not spending, says a lot will hinge on States’ approach to reopening.
India’s economy urgently needs increased fiscal spending from the government to support businesses that have suffered stress from the COVID-19-related disruptions, as well as households and individuals worst...
-TheLeaflet.in
Explaining the predicament of Micro, Small and Medium Enterprises (MSMEs) when opting for payment claims under the MSME Development Act, 2006, VIVEK SHARMA writes about why, in practice, the statutory compound interest enshrined in the law is rarely executed, and offers suggestions to bolster the...
-The Indian Express
They will not only help capture the true scale of the tragedy, but will also help in planning better for the next waves of the pandemic.
In his memoirs, the writer Suryakant Tripathi (1896-1961), better known as Nirala, described the river Ganga as “swollen...
-TheWire.in
Can the Union government exercise its sovereignty in extending food subsidies to states during a historic crisis despite an enlarged fiscal deficit?
Some states have started responding to the Supreme Court’s directions on ensuring food security, cash transfers and transportation for migrant workers. It is time...
-ThePrint.in
In various state govts, the office of district magistrate has been reduced to a glorified post office that receives instructions from various govt departments.
Not so long ago, Prime Minister Narendra Modi had ridiculed India’s civil servants in Parliament when he questioned whether the government should...
