-PTI Having already crossed the fiscal deficit target in November, Finance Minister Arun Jaitley on Friday hinted at more cuts in spending so as to contain it within limits for the current fiscal, saying he does not believe in living on borrowed money. "We're trying to rationalise expenditure as far as the government is concerned because we do not want the government to live on borrowed money indefinitely," he told a gathering...
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Union Budget likely to provide big thrust to ‘Make In India’ -Sidhartha & Surojit Gupta
-The Times of India NEW DELHI: The BJP government's 'Make in India' initiative could get top billing in the 2015-16 Union Budget with tax breaks and other measures for several sectors. Make in India is the centerpiece of the Narendra Modi administration's bid to revive manufacturing activities and create millions of jobs. With the Chinese economy slowing, India senses an opportunity in the industrial sector. A blueprint for the 25 identified sectors was...
More »Running on fumes -Paranjoy Guha Thakurta
-The Asian Age The sharp and sudden collapse of international prices of crude oil brings significant short-term gains for the Indian economy. However, in the medium and long run, the fall in oil prices has ramifications that are far from positive for this country. The windfall gains that have accrued will provide temporary relief for finance minister Arun Jaitley and will enable him to meet the fiscal deficit target in the...
More »Budgetary cuts: MGNREGA may be the worst hit
-FirstPost.com The MGNREGA rural job programme and other social welfare schemess will take a significant hit due to the 15 percent budget cut that the ministry of finance is believed to have proposed recently, social activists said Saturday. "You (the government) cut fund allocations from social and development programmes and then talk of development. That is so wrong. Such notion is misplaced and insulting," said Jayati Ghosh, a professor of economics at...
More »Campaign against Govt's move to cut social sector spending from Nov 30 -Aditi Nigam
-The Hindu Business Line Questioning the kind of growth model pursued by the Government, civil society activists on Saturday called for a wider public debate on the reported move to curtail social sector spending on schemes such as the rural job guarantee scheme, MGNREGA, and for the HIV affected. "Considering the fact that the Government is forecasting a 5.3 per cent growth rate for this year, the social sector cuts in Budget...
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