-Business Standard/ NIPFP Strap: It recognises that the medium-term fiscal arithmetic does not afford space for expansionary fiscal policy In my column on the FY20 Budget (A silent fiscal crisis, July 5, 2019), I had warned that the government faced a structural fiscal constraint that was concealed by using incorrectly optimistic numbers for revenue receipts. This year’s Budget is transparent. But the government continues to be heavily fiscally constrained due to inadequate...
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Explained: What ails the credibility of India's Budget numbers -Udit Misra
-The Indian Express Advancing the Union Budget by a month has not helped fiscal marksmanship In the first part of this series on the Union Budget, we explained how the nominal Gross Domestic Product (which is the market value of all goods and services produced within the domestic boundaries of India) is the key number that determines the shape and form of the Union Budget. In short, the nominal GDP for the current...
More »Economic Survey 2020 projects GDP growth at 6 - 6.5% in FY21
-The Indian Express The Economic Survey 2020, prepared by Chief Economic Advisor Dr Krishnamurthy Subramanian, was tabled by Union Finance Minister Nirmala Sitharaman in Parliament Friday. The Economic Survey 2020 projected an economic growth of 6 to 6.5 per cent in the fiscal year starting April 1. The survey, prepared by Chief Economic Advisor Dr Krishnamurthy Subramanian, was tabled by Union Finance Minister Nirmala Sitharaman in Parliament Friday. The survey put current fiscal...
More »Dig holes and fill them up -Surajit Das
-TelanganaToday.in Follow the Keynesian policy and go for larger Fiscal deficit that puts more purchasing power in people’s hands Finance Minister Nirmala Sitharaman will present her second Budget on February 1 amid a slowdown in GDP growth and an increase in the rate of unemployment. Even supply-side economists are acknowledging that the current situation is because of the problem of aggregate demand. The demand-side economists, anyway, have been arguing for expansionary...
More »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...
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