-The New Indian Express Meanwhile, data released by the department of economic affairs in the Finance Ministry showed interest paid on debt has increased to Rs 8.05 lakh crore in FY22 from Rs 6.80 lakh crore in FY21. NEW DELHI: The Comptroller and Auditor General (CAG) of India have raised concern over increasing Central government debt as several indicators gauging the sustainability of debt have turned unfavourable since 2015-16. The CAG in...
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What is the financial position of the 5 states described as stressed by RBI? -Tina Edwin
-MoneyControl.com Bihar, Kerala, Punjab, Rajasthan and West Bengal could face a crisis if they fail to curb non-merit expenditure, the central bank has warned A study of fiscal parameters of states by the Reserve Bank of India (RBI) identified Bihar, Kerala, Punjab, Rajasthan and West Bengal as highly stressed due to their high debt levels, the quality of expenditure and the level of fiscal deficit. These states could face a crisis if...
More »India’s new budget: much fanfare, missed opportunity -Happy Pant and Sarah Farooqui
-CBGA Blog India presented its latest Union Budget (for FY 2022 -23) in early February amid much hope, as the country is still reeling from the aftermath of Covid-19 pandemic, which has lasted for two years. To deal with the pandemic induced socio-economic crisis, countries across the world have been announcing policy measures outside of their annual budgets. The Indian government, too, made many such announcements, but given the scale of the...
More »Southern states had a higher proportion of indebted farm households in 2019, shows NSO survey
The Situation Assessment Survey of Agricultural Households and Land and Livestock Holdings of Households in Rural India (NSS 77th Round), which was released recently, informs one about farm households' income in the crop year 2018-19 and indebtedness in 2019 (as on the date of survey), among other things. Prior to the recent report, Land and Livestock Holding Surveys (LHS) and Situation Assessment Survey (SAS) of Agricultural Households used to be...
More »Tamil Nadu’s revenue, fiscal deficits understated in 2018-19: CAG
-The Hindu There was a total expenditure of ₹1.34 crore without appropriation by legislature Tamil Nadu’s revenue deficit of ₹23,459.44 crore during 2018-19 was understated by ₹3,757.23 crore and fiscal deficit by ₹1,300.49 crore primarily owing to short transfers totalling ₹1,366 crore towards various reserve funds, such as sinking fund and guarantee redemption fund, according to the Comptroller and Auditor-General’s report on State finances for the year ended March 2019. There were...
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