KEY TRENDS • Oxfam India's 2023 India Supplement report on poverty and inequality in India reveals that the gap between the rich and the poor is widening. Following the pandemic in 2019, the bottom 50 per cent of the population have continued to see their wealth chipped away. By 2020, their income share was estimated to have fallen to only 13 per cent of the national income and have less than 3...
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Govt liabilities increase to Rs 147 trillion in September-end
-PTI/ The Telegraph Weighted average yield of primary issuances hardened to 7.33 per cent in Q2 FY2023 from 7.23 per cent in Q1 FY2023 New Delhi: The government’s total liabilities increased to Rs 147.19 lakh crore in September-end from Rs 145.72 lakh crore (trillion) at the end of June this fiscal year, according to the latest data on public debt. In percentage terms, it reflects a quarter-on-quarter increase of 1 per cent in...
More »Freebies: Uttar Pradesh, Maharashtra are among top-2 states with highest liabilities
-Livemint.com A PIL said that Indian states have Outstanding liabilities of ₹59,89,360 crore as of March 31, 2021 A PIL has been filed in the Supreme Court against freebies by state governments. As per the petition, the Indian states have Outstanding liabilities of ₹59,89,360 crore as of March 31, 2021, and new sources of risk have emerged in the form of rising expenditure on non-merit freebies. Among the Indian states, Uttar Pradesh and...
More »Indian family budgets are stretched, they’re borrowing more. Faster vaccination can fix this -Ila Patnaik and Radhika Pandey
-ThePrint.in RBI data shows a sharp increase in households borrowing against gold. Other indicators also show higher borrowing. More credit is fine, but vaccination needs priority. The second wave of the Covid-19 pandemic and the ensuing lockdown has hit household incomes sharply. Households have survived to a large extent by borrowing. The Reserve Bank of India (RBI) data shows a sharp increase in households borrowing against gold. In addition to borrowing from the...
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...
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