State budgets a better view of the economy
5 years, 11 months ago

State budgets a better view of the economy

Deccan Chronicle  

Many of us in the news business, especially those based in New Delhi, fail to take note of the state budgets, and give overriding importance to the Union Budget. Former Union finance minister Yashwant Sinha had argued in 2013 that it was the good performance of the states’ economies that was buoying up the nation’s economic growth rate, and that the Central government cannot take the credit for this. But Prime Minister Narendra Modi and the BJP believe in a centralised state, and cooperative federalism is nothing but a euphemism of the Central government setting the national economic agenda, which is an anomaly in a federal setup. A close and comparative scrutiny of the states’ and Central budgets would reveal that many of the Central welfare schemes are overlapping with those of the state governments, and that the Central government should end this indulgence. While Prime Minister Modi had done the right thing in closing the Planning Commission, he has not yet given up the imperial project of the Central government to set the national economic agenda.

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History of this topic

'States not ignored': FM Sitharaman dismisses Opposition's charge on Budget 2024
5 months, 2 weeks ago

'States not ignored': FM Sitharaman dismisses Opposition's charge on Budget 2024

Firstpost  

Sitharaman said that no state was being denied money. The Budget has provided substantial financial support of Rs 17,000 crore to the Union Territory of Jammu & Kashmir this year. “We have provided substantial financial support of Rs 17,000 crore in the Union Budget of UT Jammu and Kashmir this year. That’s the burden we want to take on our …

OPINION | Union Budget 2024: Is it for two states, made by two persons?
5 months, 3 weeks ago

OPINION | Union Budget 2024: Is it for two states, made by two persons?

India TV News  

The Opposition was in full gear on Tuesday, as the debate on Union Budget began in both Houses of Parliament. Outside the House, Opposition leaders led by Sonia Gandhi, Mallikarjun Kharge, Rahul Gandhi, Akhilesh Yadav and other alliance leaders, raised slogans alleging that the Budget was "discriminatory against non-BJP-ruled states" and "it violated the spirit of federalism". Leader of Opposition …

Opinion: Budget money in the Andhra wallet gives Chandrababu Naidu political wings
5 months, 3 weeks ago

Opinion: Budget money in the Andhra wallet gives Chandrababu Naidu political wings

India Today  

Two days before the Union budget was presented in Parliament, a source with his ear to the ground predicted that Chandrababu Naidu would have his stamp on the budget. Andhra Pradesh's capital city, Amaravati which till June 4 was a ghost town, now would get special financial support of Rs 15,000 crore this year, to be facilitated by the Centre …

Letters to The Editor — July 24, 2024
5 months, 3 weeks ago

Letters to The Editor — July 24, 2024

The Hindu  

Union Budget 2024-25 Contrary to the previous Budgets, it is quite appreciable to note nine priority items have been framed for focused attention and to ensure overall development. E-vouchers and financial support to students for a sum of up to ₹10 lakh for higher education in domestic institutions and upgrading 1,000 ITIs as a hub and spoke model are novel …

Odisha: CM Mohan Majhi holds budget consultations with top officials
6 months ago

Odisha: CM Mohan Majhi holds budget consultations with top officials

Deccan Chronicle  

Bhubaneswar: Odisha chief minister Mohan Charan Majhi and deputy chief minister Prabhati Parida on Thursday held a pre-budget discussion with the senior officials of the state administration at Lok Seva Bhawan. The Odisha government will present its annual budget on July 25, two days after the presentation of the Union budget. On February 8, the then finance minister Bikram Keshari …

The overlooked importance of state budgets in the era of freebies
6 months, 1 week ago

The overlooked importance of state budgets in the era of freebies

Firstpost  

When states provide benefits like free bus rides and electricity, they often overlook the long-term financial implications and rely on the Central government to bail them out, despite making financially unsustainable decisions The history of Union Budgets is a tale that begins in 1733 when Sir Robert Walpole, regarded as the first Prime Minister of Great Britain, stood in the …

Tamil Nadu Finance Minister says the State Budget has not deviated from the path of fiscal consolidation
10 months, 1 week ago

Tamil Nadu Finance Minister says the State Budget has not deviated from the path of fiscal consolidation

The Hindu  

Amid financial constraints and ahead of the Lok Sabha elections, Tamil Nadu Finance Minister Thangam Thennarasu presented the State Budget for 2024-25. During the discussions on the Budget Estimates of 1967-68, the then Finance Minister Perarignar Anna had remarked “The lives of 3.5 crore people are determined by the 64 pages in this Budget. In this Budget Session, the Chief …

Karnataka budget today, major allocation likely for agriculture sector
10 months, 4 weeks ago

Karnataka budget today, major allocation likely for agriculture sector

Hindustan Times  

Karnataka chief minister Siddaramaiah, who also holds the portfolio of state finance minister, will present the state budget on Friday in the ongoing assembly session, people familiar with the matter said on Thursday. Karnataka chief minister Siddaramaiah will present state’s budget on Friday, marking his 15th budget presentation. Meanwhile, ahead of the budget, tensions flared in the Karnataka legislative council …

UP Budget Expected To Touch Rs 7 Lakh Crore Mark, To Focus On Infrastructure, Agriculture, Jobs
1 year, 10 months ago

UP Budget Expected To Touch Rs 7 Lakh Crore Mark, To Focus On Infrastructure, Agriculture, Jobs

ABP News  

New Delhi: Uttar Pradesh Budget for the financial year 2023-24 will be presented in the Legislative Assembly today. Chief Minister Yogi Adityanath has said that the budget will focus on the expectations of the people and overall development. According to the sources, the budget is expected to be around Rs 7 lakh crore for the financial year 2023-24 against the …

Rs 3-L crore TS Budget to focus on welfare schemes
1 year, 11 months ago

Rs 3-L crore TS Budget to focus on welfare schemes

Deccan Chronicle  

Hyderabad: The state's annual Budget outlay for 2023–24 is projected to exceed Rs 3 lakh crore with a special emphasis on welfare schemes as the BRS government gets ready for the Assembly elections, which are set for December. The government is expected to increase allocations for the Rs 1 lakh crop loan waiver scheme and Rs 3 lakh financial assistance …

Budget 2023: 10 interesting facts about Indian Union Budget
2 years ago

Budget 2023: 10 interesting facts about Indian Union Budget

India TV News  

Budget 2023 is an annual event where the government presents its financial plans for the upcoming fiscal year. The Union Budget not only lays out the government's financial plans but also gives insight into its economic and social priorities. Union Budget 2023: FULL COVERAGE Here are 10 interesting facts about the Indian Union Budget that you may not know: The …

Why it’s time to worry about state finances
2 years, 6 months ago

Why it’s time to worry about state finances

Live Mint  

State governments are confronting various fiscal risks, particularly heavy debt, says the Reserve Bank of India’s latest bulletin. However, a rising trend in providing freebies such as free power, water, and gender-based free bus rides in many states have eaten into the expenditure pie. Power sector accounts for a large portion of states’ financial burden, since dues owed by discoms …

Revving up State finances a major challenge
2 years, 10 months ago

Revving up State finances a major challenge

The Hindu  

Balagopal is scheduled to present the State Budget for the 2022-23 financial year in the Assembly on Friday. Mr. Balagopal's maiden full budget is keenly awaited, given the State's pressing need to increase revenues and realistically tackle mounting debt liabilities, even as solutions are offered to spur economic growth and employment generation with the pandemic-induced health emergency showing signs of …

Tamil Nadu Budget: Paradigm Shift 'Expected' In Stalin-Led DMK's First Budget
3 years, 5 months ago

Tamil Nadu Budget: Paradigm Shift 'Expected' In Stalin-Led DMK's First Budget

ABP News  

Chennai: The Tamil Nadu budget, to be presented on August 13 by state Finance Minister PTR Palanivel Thiaga Rajan, is likely to have a paradigm shift as far as subsidies are concerned. Bringing out a white paper on state's finances, the minister had subtly indicated that the subsidies are being enjoyed by people across economic backgrounds. These subsidies include crucial …

Budget focused on poll-bound States: Gehlot
3 years, 11 months ago

Budget focused on poll-bound States: Gehlot

The Hindu  

Rajasthan Chief Minister Ashok Gehlot on Monday said the Union Budget, which was focused on five election-bound States, did not contain any concrete measures to address the issue of unemployment caused by the COVID-19 pandemic. It seems to be more a five electoral States’ budget rather than the Union Budget,” Mr. Gehlot said. Referring to the financial crisis faced by …

Karnataka Legislature to meet again from Mar 2 for budget
4 years, 10 months ago

Karnataka Legislature to meet again from Mar 2 for budget

India TV News  

After a short recess, the Karnataka Legislature will meet again from Monday for the budget session, with the state budget to be presented by Chief Minister B S Yediyurappa on March 5. The opposition is like to rake up issues including comments by ruling party MLA Basanagouda Patil Yatnal against centenarian freedom fighter H S Doreswamy and also on alleged …

Opinion | Need to focus on state government finances
6 years, 4 months ago

Opinion | Need to focus on state government finances

Live Mint  

The widening of the fiscal deficit has re-emerged as a cause of concern for the Indian economy. As per a recent Reserve Bank of India report on state government finances, the consolidated fiscal deficit of the state governments in FY18 was 3.1%, against the budget estimate of 2.7%. While the state governments’ expenditure commitment has increased over time in line …

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