-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...
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Explained: Why Centre's Reported Finances in the Economic Survey and Budget Differ -Suyash Tiwari
-TheWire.in/ PRS blog The Union Budget replicates revised estimates reported in the interim Budget, not the updated figures for 2018-19 from the Controller General of Accounts. Finance minister Nirmala Sitharaman presented the Union Budget for the financial year 2019-20 in parliament on July 5, 2019. In the 2019-20 budget, the government presented the estimates of its expenditure and receipts for the year 2019-20. The Budget also gave an account of how much...
More »More of the dismal same -Prabhat Patnaik
-The Indian Express The budget needed to break new ground, provide a thrust to a slowing economy. This budget lacks innovation. Economics has never been a strong point of the NDA government. Its only two major economic forays, demonetisation and the GST, have both turned out to be pretty disastrous. It was futile, therefore, to expect much from the Union Budget for 2019-20. Even so, one is surprised by the budget’s...
More »Fiscal deficit in April-August at 94.7% of govt's annual target -Asit Ranjan Mishra
-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...
More »Hard reality and political compulsions may force a rural-focused budget
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...
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