-The Indian Express At the projected economic cost of Rs 29.94/kg for wheat and Rs 42.94/kg for rice, the corresponding per-kg PDS consumer subsidy in the coming fiscal would work out to Rs 27.94 and Rs 39.94, respectively. The Food Corporation of India’s (FCI) “economic cost” of wheat sold through the public Distribution system (PDS) is budgeted to go up to Rs 29.94 per kg and that of rice to Rs 42.94...
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Bihar farmer hangs himeslf over electricity bill -Dev Raj
-PTI/ The Telegraph Family members claim it was an inflated one while the state-run power company says victim had never been billed since he had taken a borewell connection in 2010 Patna: A Bihar farmer who received an electricity bill for around Rs 50,000 in December and paid Rs 25,000 after taking loans hanged himself on Thursday after power officials insisted on full payment, his family said. Family members of 48-year-old Dinesh Singh...
More »Fiscal transparency jacks up ‘expenditure’ numbers in the Union Budget 2021-22
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...
More »Despite some hits, the Budget has crucial misses -R Nagaraj
-The Hindu That there is no targeted employment programme to alleviate the immediate crisis is a matter of concern The Budget, at its simplest, is the government’s tentative income and expenditure statement. Like all financial statements, the devil lies in the fine print. At its broadest, the Budget is a pious statement of the government’s policy and ideological intentions. It is also the government’s statement of how it seeks to tackle the...
More »Wrecking Fiscal Federalism -CP Chandrasekhar and Jayati Ghosh
-NetworkIdeas.org India’s Constitution puts the bulk of responsibility for the basic goods and services to be provided to citizens on to state governments. That is also why it mandated that independent Finance Commissions be appointed every five years to determine the Distribution of tax revenues between Centre and the various states. Successive Finance Commissions (FCs) have also recognised that state governments necessarily require more resources to fulfil their obligations, which is...
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