In order to understand why the Union Budget 2021-22 is being termed as ‘transparent’, it has to be read simultaneously with the 15th Finance Commission Main Report for 2021-26. But first, let us discuss 'fertilizer subsidy'. The budget documents for Union Budget 2021-22 show that the spending on ‘fertilizer subsidy’ was slashed from Rs. 1,33,947 crore in 2020-21 (revised estimate) to Rs. 79,530 crore in 2021-22 (budget estimate). However, the budgetary...

-The Indian Express Finance Commission has taken a judicious approach in weighing competing needs of Centre and states The terms of reference of the 15th Finance Commission were controversial and contentious. Several state governments had raised concerns over what they saw as attempts by the Centre to claw back the fiscal space and autonomy extended to them by the 14th Finance Commission. The concerns centred not only on the vertical (between Centre...

-The Hindu New guidelines to banks on Foreign Contribution (Regulation) Act rules. The Ministry of Home Affairs (MHA) has laid down a charter for banks which says that “donations received in Indian rupees” by non-governmental organisations (NGOs) and associations from “any foreign source even if that source is located in India at the time of such donation” should be treated as “foreign contribution”. As per the existing rules, all banks have to report...

-The Hindu Says no action will be taken now Bengaluru: The Karnataka government on Wednesday gave an undertaking to the High Court that no coercive action will be initiated for transporting cattle in breach of Karnataka Prevention of Slaughter and Preservation of Cattle Ordinance, 2020 till the relevant rules are brought into force based on the draft rules notified recently. Advocate-General Prabhuling K. Navadgi made submissions in this regard before a Division bench,...

-TheIndiaForum.in The uniqueness of agriculture calls for continued & not less government intervention. Reform of Indian agriculture is needed, but this must be to enhance state capacities and strengthen regulatory oversight. What would be a “better government that is better”? Over the past 30-40 years, all over the world, the word “reform” has come to acquire a very specific meaning. Summed up as the Washington Consensus, it proposes reducing the role of...