-Livemint.com * There is no such thing as a freebie in economics because ultimately somebody has to bear the cost of the supposedly free giveaways * CAG’s financial audit for 2013-18 concluded that Delhi has no debt sustainability issues as its GSDP grew faster than its public debt The Aam Aadmi Party’s win in the Delhi elections has inspired others to replicate its strategy. The West Bengal government’s last full budget before state...
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Budget again reveals structural fiscal constraint -Rathin Roy
-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...
More »With savings rate falling, phasing out exemptions may hit it harder -Udit Misra
-The Indian Express The savings rate, expressed as a percentage of the gross domestic product, reflects the pool of investible funds within the country that are available for the government and private businesses to use for investment purposes. The government’s plan to gradually get rid of all exemptions and deductions under the personal income tax regime — in a bid to provide lower Taxes and a simplified tax architecture as well as...
More »Budget 2020: With eyes wide shut, Modi govt gropes for solutions -Subodh Varma
-Newsclick.in Tax collections have plummeted and Modi Govt is scrambling to cut spending by Ministries, further deepening the crisis. For the first time in two decades, corporate and income tax collections are expected to fall in 2019-20. This is an indication of the gigantic mess created by the Narendra Modi government with its dogmatic commitment to reduce Taxes on corporates and squeeze its own expenditure to supposedly boost the flagging economy. As...
More »India's GDP growth slips to 4.5%, slowest in more than six years
-The Indian Express The GDP growth rate has now slowed for the sixth consecutive quarter with the previous low recorded at 4.3 per cent in March 2013. Owing to a deceleration in manufacturing output and subdued farm sector activity, India’s GDP growth slipped to a 26-quarter low of 4.5 per cent in the second quarter (July-September) of the current fiscal, data released by National Statistical Office (NSO) Friday showed. The GDP...
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