-Networkideas.org It’s that time of year again – the time when all eyes turn to those magic numbers, the actual and proposed fiscal deficits of the central government as shares of GDP. Breathless news anchors will interrogate financial investors on what the numbers mean, and why 3.5 per cent or 3.7 per cent is fatally worse than, say, 3.4 per cent or 3.2 per cent or less. Everyone will breathe a...
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Explained: What's the difference between a full Budget and an interim Budget? -Shaji Vikraman
-The Indian Express Budget 2019: At the end of its term, a government usually presents a vote on account rather than a full Budget. What is the difference? A look at what interim Budgets have covered over the years, or left for the next government. Chennai: On February 1, the government is set to present its last Budget ahead of the elections. Conventionally, a government at the end of its term...
More »Finance ministry has a poor forecasting record -Sharmadha Srinivasan, Prakhar Misra and Niranjan Rajadhyaksha
-Livemint.com Given the over-optimistic revenue estimates and under-budgeted expenditure, the FinMin’s budget projections should be taken with a pinch of salt Dark clouds are gathering over the fiscal horizon. Finance minister Arun Jaitley will table an interim budget on 1 February—just weeks before India goes to polls. There’s a growing consensus among analysts that the government will miss its revenue target for the year, largely because the collections from the goods and services...
More »Using RBI reserves to fund government expenditure: A misleading debate -Prabhat Patnaik
-The Telegraph Our public discourse should be informed by economic theory that is free of obfuscations For some time now there has been a debate in the country that is as esoteric as it is misleading, namely whether the Reserve Bank of India’s reserves should be drawn down by the government to finance its expenditure. On the one side, the argument is that if the government has to undertake extra expenditure, then, other...
More »Prof. Abhijit Sen, a former member of the erstwhile Planning Commission, interviewed by M Rajshekhar (Scroll.in)
-Scroll.in The former Planning Commission member explains why the country needs to tread carefully on this idea. On January 1, when Indian news agency ANI asked Prime Minister Narendra Modi about the government’s plans to reduce agrarian distress, he said loan waivers do not work as a very small segment of farmers take loans from banks. “A majority of them take loans from money lenders,” said Modi. “When governments make such announcements,...
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