-The Times of India NEW DELHI: A swathe of ministries - from finance to fertilizer and petroleum - are going to make a case for a reduction in subsidies before Narendra Modi, a move that will push up your monthly expenditure but is expected to help the government cut wasteful spending and revive investment. Sources said the three ministries are identifying subsidies as a key constraint in their presentations that secretaries will make...
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Officials shape plan to cut spending, deficit: Sources
-Reuters NEW DELHI: The finance ministry is working on a proposal for the new government to cut welfare spending and rein in the deficit in its first budget, to allay fears of fiscal slippage that would increase the risks of a sovereign credit downgrade, officials said. Two senior ministry officials told Reuters the plan would make it possible for Narendra Modi's incoming government to reduce the current year's fiscal deficit and...
More »The political economy cycle in India-Pramit Bhattacharya
-Live Mint As a democracy matures, citizens become more willing to trust elected representatives to plan and take steps for the long-term growth and development One common complaint during this election has been that the election commission (EC) has to be consulted before the government and its regulatory agencies take any routine decision. Decisions relating to gas price hikes and bank licences all had to be cleared by the EC, whose over...
More »Rs 30,000 crore stimulus to economy expected from poll spending -Surojit Gupta
-The Times of India NEW DELHI: The country's faltering economy is likely to get a significant stimulus from election spending by political parties, candidates and the government which estimates suggest could be as much as Rs 30,000 crore. The figure is comparable to the $4 billion (around Rs 20,000 crore at the prevailing exchange rate) additional spending that the government announced in 2008 to shield the economy from the impact of the...
More »Who foots the huge dole for business? -Latha Jishnu
-Down to Earth Bad loans of public sector banks to business are more than double the food subsidy There are some things you simply do not do in the liberalised economy. You do not put bank loans under the lens-unless these are ballooning out of control. That is, until such loans are likely to jeopardise the entire banking system and send the economy into a tailspin. And there's another thing: you don't...
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