-Livemint.com With no significant spending increase to boost consumption or other major reform, the 2020 budget may lack the firepower to reignite the economy A growth slump, a precarious fiscal position and rising inflation: these are extraordinary times for the Indian economy. Yet in the 2020 Budget, these extraordinary times did not lead to the extraordinary measures so many economists were clamouring for. Like previous budgets under this government, the latest one...
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Will the Budget suspend the FRBM's fiscal deficit goals? -Ajit Ranade & NR Bhanumurthy
-The Hindu Any fiscal deficit needs to ideally redirect spending priorities to capital from consumption With revenue receipts lagging behind budget estimates and economic growth slowing sharply, there is a real risk of the Centre missing its fiscal deficit target this year. In a discussion moderated by Suresh Seshadri, N.R. Bhanumurthy and Ajit Ranade look at how the Union Budget may approach the fiscal balancing act in the face of a need...
More »With a huge informal economy, government should increase spending, not worry about deficit -Maitreesh Ghatak
-The Indian Express To get the engine of the economy revving, an expansionary fiscal policy that harnesses the energy of the informal sector to boost aggregate demand is the order of the day. That India is in the midst of a serious economic slowdown is no longer in question. The debates are now mostly about what to do about it: Whether to opt for a fiscal expansion to boost demand or to...
More »How deep is India's fiscal hole? -Nikita Kwatra
-Livemint.com Taking into account a likely shortfall in revenue and off-budget spending, the real fiscal deficit could be as high as 5.5% of GDP in the current fiscal Mumbai: As India’s economic slowdown has intensified, so has the debate on whether the government should stick to fiscal consolidation or run a higher deficit to push growth in the upcoming budget, due on 1 February. However, data on revenue available so far suggests that...
More »Why India faces a public funding crisis -Rathin Roy & Puja Mehra
-Livemint.com * The Centre has no money for a stimulus package. Only the states can find a way to get India out of the slowdown * States, taken collectively, are the only hope. Despite loan waivers, they are in a better position to boost public spending. But that would require coordinated work between the Centre?and the states NEW DELHI: On 1 February, finance minister Nirmala Sitharaman will present an important Union budget. The...
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