A recent press release by the Cabinet Committee on Economic Affairs (CCEA) shows that the declared minimum support price (MSP) for most kharif crops to be marketed in 2019-20 is at least 50 percent above the cost of production. The official information related to the newly declared MSP, which came two days ahead of the Union budget presentation, gives the impression that the newly re-elected NDA government has kept its promise...
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Explaining the Rise in Revenue Deficit Between Modi Govt's Interim and Full Budgets -Aneesha Chitgupi
-TheWire.in While the revenue deficit is estimated to increase in the Union budget in comparison to the interim one, the fiscal deficit shows a decline thanks to the increase in capital receipts especially through disinvestment. A comparison between the Interim Budget (IB) presented on February 1, 2019, and the full Union budget (FB) presented before parliament on July for the current fiscal year (2019-20) throws up some intriguing questions. While most commentators have...
More »CAG demonstrates how govt relies on off-budget resources to fund deficit - Dinesh Narayanan
-The Economic Times India’s deficit numbers have come under lens as the govt is increasingly depending on off-budget borrowings. The Comptroller and Auditor General (CAG) has said that the central government’s key deficit figures may be considerably higher than those stated in the Union budget. In a presentation to the 15th Finance Commission (FFC) on July 8, three days after the July 5 budget, CAG has asked whether the extra-budgetary resources accounted for...
More »Why states are demanding more from the 15th Finance Commission - Nikita Kwatra and Pramit Bhattacharya
-Livemint.com Transfers to states are stagnating at a time when developmental demands on state governments are rising Five years ago, when the 14th finance commission recommended an increase in devolution of funds to state governments and a hike in the share of untied funds they received, it was heralded as a new era for fiscal federalism in the country, and one that would significantly empower state governments at a time when they...
More »How the Centre Can Ensure Women Receive Maternity Benefits -Vanita Leah Falcao, KC Sachin and Sabhil Nath Painkra
-TheWire.in Increased budgetary allocation is a welcome step, but key aspects of the Pradhan Mantri Matritva Vandana Yojana scheme need to be reviewed. The Union budget brought with it a 17% increase in this year’s allocation for the Ministry of Women and Child Development (MWCD). Approximately 9% of the total allocation, which is Rs 29,000 crore, has been earmarked for the Pradhan Mantri Matru Vandana Yojana (PMMVY). The PMMVY is a Centrally sponsored...
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