-The Hindu Ministries asked to submit data and ensure correctness of figures The Finance Ministry will start its pre-Budget work from October 14 onwards, according to a circular it sent to all Ministries and Departments. The other Ministries will have to prepare and send their budgets, expenditure trends, and non-tax revenue estimates for 2020-21 by October 9 to the Finance Ministry. Following this, the Finance Ministry will hold separate meetings with all the...
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Subdued GST collections, lower tax devolution will impact state finances, pose macro risks -Jayanta Roy and Aditi Nayar
-The Indian Express To avoid a substantial fiscal slippage at the state government level, a sizeable expenditure reduction or deferral is likely to be required, given that the borrowing limit set by the central government acts as a soft constraint to the size of the states’ fiscal deficits. There are growing concerns that the two major sources of tax revenues for state governments, the state goods and services tax (SGST) and...
More »What can be done to address the demand drought in our economy? -Suresh Seshadri
-The Indian Express Why tax sops are not enough? What can policy makers do? The story so far: A worryingly persistent slowdown dragged economic growth in India down to 5% in the fiscal first quarter, its weakest pace in more than six years. And while the recent weeks have seen the possible reasons for the slowdown, as well as the government’s policy measures to ostensibly help revive the economy being put under...
More »PMJAY to offer teleconsultation to boost coverage -Bindu Shajan Perappadan
-The Hindu The move is part of the Centre’s plans to widen the coverage of the scheme and thus reduce the incidence of catastrophic health expenditures. The Pradhan Mantri Jan Arogya Yojana (PMJAY) health insurance scheme is set to offer teleconsultation services to its patients soon. The move is part of the Centre’s plans to widen the coverage of the scheme and thus reduce the incidence of catastrophic health expenditures, and improve...
More »A rural stimulus: On MGNREGA wage hike
-The Hindu Putting more money in the hands of rural households will stir up the economy The government’s statistical machinery has begun work on revising the indices that capture the trends in consumer prices experienced in rural India. This opens up the prospect for an upward revision in the wages paid out to workers under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). The current national average wage is just about...
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