-Newsclick.in Punjab is industrialised and its agriculture is mechanised. The state is in the grip of a downturn which has hurt the migrant poor most. The Union Budget is the talk of the town, but the economic downturn is not. The prevailing economic situation has hurt all sectors of the business and economy. One symptom of the downturn is that unemployment has broken a 45-year record. Even if these facts are known,...
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Finance Ministry secretly corrects 14 data discrepancies in Budget 2020 after India Today seeks answers -Mukesh Rawat
-IndiaToday.in IndiaToday.in's analysis found that Union Budget 2020 had at least 14 data discrepancies regarding allocations for the Department of Health and Family Welfare. When we sought a clarification, the Finance Ministry secretly corrected them without replying to our mail. * There were 14 data discrepancies in Expenditure Budget for Dept of Health & Family Welfare * These were between the PDF and Excel files uploaded by Finance Ministry on budget's official website *...
More »With savings rate falling, phasing out exemptions may hit it harder -Udit Misra
-The Indian Express The savings rate, expressed as a percentage of the gross domestic product, reflects the pool of investible funds within the country that are available for the government and private businesses to use for investment purposes. The government’s plan to gradually get rid of all exemptions and deductions under the personal income tax regime — in a bid to provide lower taxes and a simplified tax architecture as well as...
More »Explained: What ails the credibility of India's Budget numbers -Udit Misra
-The Indian Express Advancing the Union Budget by a month has not helped fiscal marksmanship In the first part of this series on the Union Budget, we explained how the nominal Gross Domestic Product (which is the market value of all goods and services produced within the domestic boundaries of India) is the key number that determines the shape and form of the Union Budget. In short, the nominal GDP for the current...
More »Continuity and fiscal follow-through -M Govinda Rao
-The Hindu The 15th Finance Commission, by and large, has gone with the approach and methodology of earlier Commissions The appointment of the Fifteenth Finance Commission by the President of India under Article 280 of the Constitution was notified on November 27, 2017. It was required to submit the report by October 30, 2019 for five years for the period 2020-21 to 2024-25. However, due to various political and fiscal developments, notifications...
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