-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...
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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 »Explained: A new controversy on India's Fiscal Deficit -Udit Misra
-The Indian Express In his blog, S C Garg, former Economic Affairs secretary, has claimed that the actual Fiscal Deficit for the last financial year and the current one is more than a full percentage point higher than the official data. On the face of it, India’s Fiscal Deficit, which essentially maps how much money the Indian government has to borrow to make up the gap between its expenditure and its revenues,...
More »Won't back fiscal tightening currently: Abhijit Banerjee -Ajeet Mahale
-The Hindu Nobel laureate Abhijit Banerjee says the deficit numbers are a bit imaginary, not a big deal if breached Mumbai: Nobel laureate Abhijit Banerjee has said that he would not back fiscal tightening in the current economic environment. Prof. Banerjee added that the real constraint to the state of education in the country in the current climate of economic slowdown was not lack of money, but the lack of attention paid to...
More »Govt set for 20% cut in wasteful expenses -Harikishan Sharma
-The Indian Express “All ministries have been directed to reduce wasteful expenditure on travel, food and conferences by 20 percent. The CCIG has asked the Department of Expenditure, Ministry of Finance, to take necessary action in this regard,” a source told The Sunday Express. In an austerity move, the Union government has decided to reduce wasteful expenditure on items such as travel and food by 20 percent, it is learnt. A decision of...
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