-The Hindu It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth Union Finance Minister Nirmala Sitharaman is mistaken if she thinks her first Budget is going to revive a slowing economy. The economy grew by just 5.8% in real terms in the last quarter of 2018-19. Yet, the Union Budget for 2019-20 assumes that the economy will...
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NPAs Under Modi's Mudra Scheme Doubled in Just a Year, Reveals RTI -Dheeraj Mishra
-TheWire.in Public sector NPAs of loans issued under the scheme have increased by Rs 9,204.14 crore in just one year – from Rs 7,277.31 crore in March 2018 to Rs 16,481.45 crore in March 2019. New Delhi: The non-performing assets (NPAs) under Prime Minister Narendra Modi’s ambitious Pradhan Mantri Mudra Yojana (PMMY) doubled within one year. This information was obtained through an RTI petition filed by The Wire. In a written reply to...
More »House panel shies away from quantifying black money
-The Hindu Three agencies have come up with varying figures, ranging from 7-120% of GDP, it said The Standing Committee on Finance has shied away from estimating the quantum of black money in and outside India, saying that different methods by various agencies are yielding vastly differing figures. The Standing Committee relied on three institutes — the National Institute of Public Finance and Policy, the National Institute of Financial Management and the...
More »Reimagining the NITI Aayog -Vijay Kelkar & Abhay Pethe
-The Hindu The institution can play an important role in refreshing India’s fiscal federalism India’s Constitution-makers thought of India as a union of States with a centripetal bias, done, advisedly, to preserve the unity and integrity of a newly fledged nation. Since then, the Indian economy, polity, demography and society have undergone many changes. The new aspirational India is now firmly on a growth turnpike. It is in this context that we...
More »India's budget math faces a tough challenge now -Nikita Kwatra
-Livemint.com To keep up with the pressure of making headline fiscal deficit numbers look good, the government has increasingly resorted to off-budget financing for revenue as well as capital spending As with every other Union budget in the country, all eyes will focus on the fiscal deficit number that India’s new finance minister, Nirmala Sitharaman presents on 5 July in her maiden budget speech. But for many investors and analysts, how that...
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