-Moneycontrol.com The Centre is targeting a fiscal deficit of Rs 16.61 lakh crore for the current financial year, or 6.4 percent of the GDP. In the April-November period of FY22, the fiscal deficit was 46.2 percent of the full year target. The central government's fiscal deficit widened to Rs 9.78 lakh crore in April-November period, accounting for 58.9 percent of the full-year target, data released on December 30 by the Controller General...
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Govt. Squeezes Spending, Even Though Tax Collections Have Increased -Subodh Varma
-Newsclick.in Modi government has restrained spending of various ministries including education, social justice, environment and others. Continuing with its policy of cutting down spending, the central government has spent only 47% of the budgeted amount by the end of September 2021. That’s half of the financial year 2021-22 gone. This is a new low (see graph below), and bizarrely, it comes at a time when tax revenues have picked up. As can be...
More »Despite Stimulus, Data Shows The Government May Be Spending Less, Not More -Mariyam Alavi
-NDTV According to the data available with the Controller General of Accounts, however, the central government's total spending fell from ₹ 14.9 lakh crore in April-September 2019 to ₹ 14.8 lakh crore in April-September 2020, a drop of almost 1 per cent. In a year when the government has announced multiple stimulus packages to revive India's covid-hit economy, the central government has spent less than the previous year, NDTV has found. The...
More »Dumb and Dumber: Facing slowdown, govt squeezes expenditure -Subodh Varma
-Newsclick.in Rather than spending more, government expenditure by July 2019 is less than what it was last year as share of annual budget, with key public welfare related ministries cutting most. India is facing an unprecedented slowdown of the economy with GDP growth slumping to 5% in the June quarter, agriculture growing by only 2% and manufacturing by a mere 0.6%. Private consumption expenditure – spending by families on consumption – has...
More »Recently presented Union Budget does not provide updated data on important heads for FY 2018-19
During budget presentations, budget documents, which are provided, carry updated data and information related to various departments and ministries of the Central Government such as on revenues, expenditures, deficits etc. Recently economists like Dr. Rathin Roy and Prof. Jayati Ghosh have expressed concerns about the Ministry of Finance for not uploading updated and appropriate budgetary data and figures on the website www.indiabudget.gov.in following the 2019-20 Union Budget presentation by the...
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