-The Hindu It is inescapable from the arithmetic that revenue expenditures and tax revenues are in need of serious corrections Finance Minister Nirmala Sitharaman began a new practice in the Union Budget, presented on July 5, when she relegated the numbers, or the budgeting, to the fine print, in a break with tradition; they are usually presented as a part of the speech on the floor of the House in Parliament. What are...

-Livemint.com India’s fiscal deficit touched 94.7% of the budgeted target during the April-August period while revenue deficit crossed the budget estimate at 113.8% in the same period New Delhi: Despite a substantial increase in transfer of surplus by the Reserve Bank of India (RBI) to the government, India’s fiscal deficit touched 94.7% of the budgeted target during the April-August period while revenue deficit crossed the budget estimate at 113.8% in the same...

  Budgetary allocation to a particular sector indicates how much priority the government assigns to that sector as compared to the rest. A preliminary analysis by the Inclusive Media for Change team indicates that the actual expenditure (net of receipts and recoveries) by two of the country’s most important ministries, namely the Ministry of Agriculture & Farmers Welfare (MoAFW) and the Ministry of Rural Development (MoRD) was less than 1 percent...

-The Hindu The Chief Statistician of India on the economy, the meaning of the new series of GDP data, and the need to wait for the impact of demonetisation to unfold T.C.A. Anant is the Chief Statistician of India, and Secretary, Ministry of Statistics and Programme Implementation. He has been in charge of several notable changes in the way economic data has been recently presented, including the new GDP and Gross Value...

-The Hindu The new method provides a more accurate picture of a company's financial position. It is also more complex, expensive and time-consuming. The Controller General of Accounts has asked the government to be careful in adopting the accrual method of accounting considering the costs involved as only a few of its departments can benefit. “We should tread this subject in a careful manner. There is no such thing as a big-bang approach....