Union Budget 2021: After pandemic disruption, time to focus on demand side of economy
3 years, 10 months ago

Union Budget 2021: After pandemic disruption, time to focus on demand side of economy

Firstpost  

Whichever way one may look at, the priority of FY 2022 Union Budget has to be and would be on getting the economy back on track. However, even at that time government finances were constrained and the government used the escape clause available under the Fiscal Responsibility and Budget Management Act to let the fiscal deficit of FY 2020 slip by 50 bp to 3.8 percent of GDP and budgeted the fiscal deficit for FY 2021 at 3.5 percent of GDP. Given that the nominal GDP growth for FY 2020 had already fallen to 7.2 percent due to slowing consumer demand, achieving 10 percent nominal GDP growth and gross tax revenue buoyancy of 1.2x in FY 2021 was a stretch target. Against this backdrop, the fiscal arithmetic of Union Budget FY 2022 is expected to revolve around a nominal GDP growth of 14.0 percent and fiscal deficit of 6.2 percent of GDP with a focus on boosting aggregate demand, expenditure reprioritisation and mobilising higher non-tax revenue. Some of the specifics on which the government is expected to focus on the forthcoming budget are: Spending on infrastructure especially that are employment-intensive and have a shorter turnaround time and MGNREGS; creation of a new development financial institutions to bring inpatient capital, the continuation of relief/income support to the poor households, more support to real estate given its backwards-forward linkage in the economy, support to micro small and medium enterprises, reprioritisation of revenue/capital expenditure towards essentials coupled with rationalisation/discontinuation of schemes/sub-schemes that have meagre resource allocation and are non-impactful and mobilisation of higher non-tax revenue via disinvestment to fund expenditure.

Economy Revenue Demand Covid Gdp Fiscal Union Budget 2021 Budget Pandemic Disruption  pandemic  disruption  revenue  focus  union  demand  fy  economy  gdp  fiscal  growth  support  2021  budget

History of this topic

Budget 2024: A message of fiscal stability, growth continuity
5 months ago

Budget 2024: A message of fiscal stability, growth continuity

The Hindu  

The FY25 Union Budget has sent out a strong message under the new administration — there remains an unequivocal focus on stability and continuity amidst a new chiselled focus on providing growth a more inclusive character in India. The fiscal deficit, at 5.6% of GDP in FY24, still high compared to pre-COVID-19 pandemic levels, provided the needed growth impetus via …

Budget 2024: Modi govt reduces fiscal deficit target to 4.9 per cent of GDP for FY25
5 months ago

Budget 2024: Modi govt reduces fiscal deficit target to 4.9 per cent of GDP for FY25

India TV News  

Union Budget 2024: In her presentation of the Union Budget for the fiscal year 2024-25, Union Finance Minister Nirmala Sitharaman announced a fiscal deficit target of 4.9 per cent of the gross domestic product. This marks a significant reduction from the target set in the Interim Budget presented on February 1, which pegged the fiscal deficit at 5.1 per cent …

Budget 2024: These five pieces you can’t miss
5 months ago

Budget 2024: These five pieces you can’t miss

Live Mint  

Mint brings you five curated pieces on the Budget. Budget: The election outcome and voter concerns can offer Sitharaman some clues Rajrishi Singhal discusses the potential impact of the recent Lok Sabha election results on the Union Budget. With the Bharatiya Janata Party losing significant ground, key considerations may include the resurgence of state-specific voting patterns, the need for increased …

Union Budget 2024: Middle class might not get expected tax relief
5 months, 1 week ago

Union Budget 2024: Middle class might not get expected tax relief

India Today  

The government led by Prime Minister Narendra Modi is expected to tilt towards populism given the weaker mandate and the huge dividend of Rs 2.1 trillion for FY24 given by the Reserve Bank of India. As the government prepares to present the budget for the financial year 2024-25 on July 23, the middle class may not see the anticipated tax …

Union Budget To Prioritise Fiscal Targets, Jobs, And Inflation: Goldman Sachs
5 months, 2 weeks ago

Union Budget To Prioritise Fiscal Targets, Jobs, And Inflation: Goldman Sachs

ABP News  

The Union Budget for the fiscal year 2024-25 is likely to prioritise maintaining capex spending levels and adhering strictly to fiscal consolidation goals while maintaining a special focus on job creation, as per Goldman Sachs. In their note published on Monday, they caution against expecting any relaxation in fiscal consolidation measures or a shift towards increased welfare spending at the …

Govt may revise fiscal deficit target to 5% of GDP in Budget
6 months, 1 week ago

Govt may revise fiscal deficit target to 5% of GDP in Budget

Hindustan Times  

NEW DELHI: The full budget for FY25 may see a downward revision of India’s fiscal deficit target for the current financial year from previous target of 5.1% of the gross domestic product to at least 5% or less as North Block swings into action to translate Prime Minister Narendra Modi’s development agenda into budget proposals, three people aware of the …

Budget 2024: Nominal GDP growth seen at 10.50 per cent, FY24 fiscal deficit revised down to 5.80 per cent
10 months, 3 weeks ago

Budget 2024: Nominal GDP growth seen at 10.50 per cent, FY24 fiscal deficit revised down to 5.80 per cent

India TV News  

In the interim Budget presented by Finance Minister Nirmala Sitharaman, the Union government has assumed a nominal GDP growth of 10.50 per cent for the fiscal year 2024-25. The revised estimate of the fiscal deficit for FY24 is 5.8 per cent of GDP, improving on the budget estimate despite a moderation in nominal growth estimates. Union Finance Minister Nirmala Sitharaman …

Budget 2024: 5 essential questions for investors answered by Goldman Sachs
11 months, 1 week ago

Budget 2024: 5 essential questions for investors answered by Goldman Sachs

Live Mint  

Budget 2024: Goldman Sachs in its report on FY25 interim budget say that interim budget is likely to follow the fiscal consolidation path Three key things for investors to look out for in the interim budget as per Goldman Sachs include: a) the government’s commitment to the medium-term fiscal consolidation path, b) if capex growth can continue with fiscal consolidation, …

Govt meets 6.4% fiscal deficit target for FY23
1 year, 6 months ago

Govt meets 6.4% fiscal deficit target for FY23

Hindustan Times  

The Union government met its fiscal deficit target of 6.4% of the gross domestic product for 2022-23 on the back of robust tax revenue despite higher revenue expenditure, particularly on account of subsidies and interest payments, official data released on Wednesday showed. Fiscal deficit indicates government’s borrowing to meet the gap between revenue receipts in a particular financial year and …

Measures announced in Budget to promote jobs, spur economic growth: Finance Ministry
1 year, 10 months ago

Measures announced in Budget to promote jobs, spur economic growth: Finance Ministry

The Hindu  

The measures like increased capex, boosting the green economy and initiatives for strengthening financial markets announced in the Budget 2023-24 are expected to promote job creation and spur economic growth, the Finance Ministry said on Thursday. In its Monthly Economic Review, the Ministry said during the December 2022 quarter, various High-Frequency Indicators pointed towards a slowdown in general, as monetary …

Key takeaways from Union Budget 2023-24 in charts
1 year, 10 months ago

Key takeaways from Union Budget 2023-24 in charts

The Hindu  

The government will focus on economic growth and job creation and cut down the fiscal deficit, Union Finance Minister Nirmala Sitharaman said on Wednesday, presenting its last full budget in Parliament before the 2024 election. Transfer to states/UTs Allocation to Ministries The Union Budget allocated a massive ₹5.94 lakh crore for the Defence Ministry, a 13% increase year-on-year from last …

The Union budget for 2023-24 is rather well placed on fiscal math
1 year, 10 months ago

The Union budget for 2023-24 is rather well placed on fiscal math

Live Mint  

All credit goes to Finance Minister Nirmala Sitharaman and her team for extraordinary fiscal performance over three years of relentless pressure from the pandemic followed by the Ukraine war. During the current fiscal year closing on 31 March 2023, the Central fiscal deficit has held at 6.4% as budgeted, despite additional expenditure of ₹2 trillion on food and fertilizer subsidies. …

Tax-Capex double engine in Union Budget 2023-24
1 year, 10 months ago

Tax-Capex double engine in Union Budget 2023-24

Hindustan Times  

Finance minister Nirmala Sitharaman on Wednesday presented a Budget that continued her government’s emphasis on capital investment, with a record ₹10 lakh crore spend planned in 2023-24, sought to encourage taxpayers to spend more with tax cuts, and announced a ₹35,000 crore expenditure on energy transition even as she managed to reduce the fiscal deficit to 5.9% from 6.4% this …

Union Budget 2023: What Modi Govt's New Tax Regime Has In Store, Gain Or Pain?
1 year, 10 months ago

Union Budget 2023: What Modi Govt's New Tax Regime Has In Store, Gain Or Pain?

The Quint  

The Union Budget speech of Finance Minister Nirmala Sitharaman highlighted seven key priority goals as the “Saptarishis guiding through the Amrit Kaal” for this year’s fiscal outlay map: a) Inclusive Development; b) Last Mile Development; c) Infrastructure and Investment; d) Green Growth; e) Youth, and f) Financial Sector. Key fiscal numbers were kept in line with the broader market expectations …

Union Budget 2023-24: Aiming For A Fine Balance
1 year, 10 months ago

Union Budget 2023-24: Aiming For A Fine Balance

News 18  

The Indian economy has been recovering well from the pandemic. With this context, restricting GFD/GDP to around 5.8 per cent should be targeted and ensure the government remains committed to the target of reaching 4.5 per cent by FY2026. We see five key reasons for a limited space for a “populist” Budget — Lower tax revenue growth, given lower GDP …

Budget 2023: Govt may peg lower nominal GDP growth, says report
1 year, 11 months ago

Budget 2023: Govt may peg lower nominal GDP growth, says report

India Today  

The Union Budget 2023 is just days away and Finance Minister Nirmala Sitharaman will present the plan for the next financial year at a time when India faces multiple growth challenges. Two government officials quoted in a Reuters report said the nominal GDP growth could be pegged at 11 per cent in the budget next week, marking a slowdown from …

Will Union Budget 2023 Help in Boosting the Indian Economy?
1 year, 11 months ago

Will Union Budget 2023 Help in Boosting the Indian Economy?

News 18  

The Union Budget is one of the most awaited documents presented by the Government of India. However, with inflation and with post-pandemic recovery boosting tax revenues, it is expected that the central gross fiscal deficit will be contained at the target of 6.4% for this fiscal year. In the previous Budgets, the FM had opted for a longer fiscal consolidation …

What will be the math behind Budget 2023?
1 year, 11 months ago

What will be the math behind Budget 2023?

Live Mint  

In the upcoming Union budget, the Centre will make prudent promises as always about keeping its finances in check. That’s changed: a fresh estimate released on Friday predicts growth at 15.4%, which means the Centre can keep its 6.4% promise even if fiscal deficit overshoots the target by about ₹0.9 trillion. View Full Image Mint Fiscal Hole In its budget …

Budget 2023: Govt Asks Citizens To Send Suggestions, Ideas Through My Gov Portal. Check Details
2 years ago

Budget 2023: Govt Asks Citizens To Send Suggestions, Ideas Through My Gov Portal. Check Details

ABP News  

In a bid to seek suggestions and ideas from the public, the government has invited ideas and suggestions for the upcoming Union Budget 2023-24 which will be presented in February next year. Steps To Submit Suggestions Firstly, visit My Gov portal and search inviting ideas and suggestions for Union Budget 2023-24 Login to the account via OTP. Govt targets to …

States' capex soars 36% in FY23, fiscal deficit at Rs 8.4 lakh crore, finds ICRA report
2 years, 5 months ago

States' capex soars 36% in FY23, fiscal deficit at Rs 8.4 lakh crore, finds ICRA report

Firstpost  

According to the agency, 26 large states, excluding Assam, are on course to spend Rs 6.8 lakh crore or 35.8 per cent more this fiscal in capital expenditure over FY22 when it stood at Rs 5 lakh crore Mumbai: States have budgeted 36 per cent higher capital expenditure during this financial year, which may lead to a sharp rise in …

Union Budget 2022-23: Government reduces spending on welfare, sticks to conservative fiscal stance
2 years, 10 months ago

Union Budget 2022-23: Government reduces spending on welfare, sticks to conservative fiscal stance

The Hindu  

Even in normal times, government budgets are expected to be well-conceived exercises that aim to mobilise additional resources and deploy them in ways that advance immediate objectives without harming longer term growth prospects. Finally, although the pandemic is still ongoing, the demand for grants of the Ministry of Health and Family Welfare shows that total spending in this crucial area, …

The budget has done well in retaining its growth focus
2 years, 10 months ago

The budget has done well in retaining its growth focus

Live Mint  

The Union Budget 2022-23 was truly a transformative and visionary document, which laid the blueprint for the next 25 years through boosting investments, creating jobs, improving ease of doing business, maintaining tax stability and support to the stressed sectors. The continued rise in capital spending lends credence to the government’s vision of improving the economy’s growth potential through a push …

Budget 2022 is impactful & visionary, says US-India trade networking body
2 years, 10 months ago

Budget 2022 is impactful & visionary, says US-India trade networking body

India Today  

Finance Minister Nirmala Sitharaman has been able to once again come up with an impactful and visionary budget which is “balanced, fiscally prudent and growth-oriented” in the midst of the third wave of Covid-19, the USA-India Chamber of Commerce said. It also paves the way for post-pandemic longer-term restructuring of the Indian economy,” Karun Rishi, president of Boston-based USA India …

Union Budget 2022: Underestimating tax revenues for the second year in a row by finance minister is puzzling
2 years, 10 months ago

Union Budget 2022: Underestimating tax revenues for the second year in a row by finance minister is puzzling

Firstpost  

In the last year’s budget, Centre’s net tax revenue growth in FY22 was estimated to grow by 8.5 per cent. In the last year’s budget, the Centre’s net tax revenue growth in the current year — FY22 — was estimated to grow by 8.5 per cent to Rs 15.45 trillion. If the FY22 net tax revenue is higher by Rs …

Union Budget 2022 | Medium Wave
2 years, 10 months ago

Union Budget 2022 | Medium Wave

The Hindu  

Union Finance Minister Nirmala Sitharaman, presenting her fourth Budget and the second one in a pandemic-hit economy on Tuesday, largely stuck to the broad script from last year, scaling up the wager on public capital spending to revive private investments and job creation through a virtuous growth cycle, while keeping an eye on the country’s macro fiscal health. Contact-intensive services …

Union Budget 2022: Disappointing for middle class, but good for economy
2 years, 10 months ago

Union Budget 2022: Disappointing for middle class, but good for economy

Firstpost  

The budget had estimated gross tax collection in the current year FY21-22 to be Rs 22.17 lakh-crore. However in this budget, there’s an increase of Rs 3 lakh-crore, and the revised estimates are stating that actual tax could be Rs 25.16 lakh-crore The Budget carries on the Government of India’s strategy of investing in infrastructure, consolidating finances, and making sure …

Union Budget 2022 by numbers: Rs 5.25 lakh cr for defence, Rs 7.50 lakh cr capital expenditure
2 years, 10 months ago

Union Budget 2022 by numbers: Rs 5.25 lakh cr for defence, Rs 7.50 lakh cr capital expenditure

Firstpost  

The key takeaways from the fourth Budget of the second Narendra Modi government tabled by Finance Minister Nirmala Sitharaman in Parliament Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2022-2023 in front of a packed Parliament. 9.27 percent According to Finance Minister Nirmala Sitharaman, this will be India’s growth in the current year — highest among …

Budget 2022-2023: Key Highlights
2 years, 10 months ago

Budget 2022-2023: Key Highlights

India TV News  

Finance Minister Nirmala Sitharaman on Tuesday unveiled a bigger Rs 39.45 lakh crore Budget. Following are the highlights of the Union Budget for 2022-23 presented by Finance Minister Nirmala Sitharaman in Parliament on Tuesday: FISCAL POSITION India’s growth estimated at 9.2 pc, to be highest among large economies Fiscal deficit in 2022-23 estimated at 6.4 pc of GDP Total expenditure …

Budget 2022 Highlights: No change in Income Tax Slabs, New Crypto Tax, 5G, Infra Push
2 years, 10 months ago

Budget 2022 Highlights: No change in Income Tax Slabs, New Crypto Tax, 5G, Infra Push

News 18  

Union finance minister Nirmala Sitharaman presented the Union Budget 2022 today. FY23 effective capex seen at Rs 10.7 lakh crore India’s growth highest among all major economies; we are now in a strong position to withstand challenges The goal is complementing macro-growth with micro-all-inclusive welfare, digital economy and fintech, tech-enabled development, energy transition and climate action ECLGS cover expanded by …

Union Budget 2022 highlights: No Income Tax change, digital rupee, 5G, hike in Capex
2 years, 10 months ago

Union Budget 2022 highlights: No Income Tax change, digital rupee, 5G, hike in Capex

Deccan Chronicle  

Union Cabinet approves Budget 2022-23 The Union Cabinet on Tuesday approved the Budget 2022-23 which will be presented by Finance Minister Nirmala Sitharaman in Parliament. Economic recovery benefitting from public investment and capital spending, says FM This Budget continues to provide impetus to growth: FM 2022-23 has been announced as International Year of Millets: FM 100 PM Gati Shakti terminals …

Union Budget 2022: All you need to know
2 years, 10 months ago

Union Budget 2022: All you need to know

Live Mint  

As Union Finance Minister Nirmala Sitharaman is scheduled to present her fourth Union Budget for the next financial year tomorrow, all eyes would be on how the Centre balances out populist measures while walking the tightrope of fiscal consolidation. After getting the nod from the cabinet, Finance Minister Nirmala Sitharaman will present the Union Budget 2022-23 in a paperless form …

A preview to the Union budget, in five charts
2 years, 10 months ago

A preview to the Union budget, in five charts

Live Mint  

Two of the three Union Budgets presented by Finance Minister Nirmala Sitharaman so far have had a distinct backdrop behind them. For 2021-22, the Centre increased the total budget size by a measly 1%, against the average annual increase of 15% in the preceding four years. Every rupee of capital expenditure by the government adds ₹2.50 to the GDP, according …

Budget 2022: FM may focus on roadmap to recovery for economy through job creation, demand generation
2 years, 10 months ago

Budget 2022: FM may focus on roadmap to recovery for economy through job creation, demand generation

Firstpost  

The Union Budget for 2022 comes at a time when the Indian economy has been hit hard by the continuing pandemic. This year’s Budget will likely focus on a roadmap to recovery for the economy through job creation, demand generation, and driving the economic growth of over 8 percent. While the fiscal deficit stood at a mere 46 percent of …

Budget 2022: Tax Breaks, Fuel Tax Cuts Needed to Boost Consumption, Says Report
2 years, 10 months ago

Budget 2022: Tax Breaks, Fuel Tax Cuts Needed to Boost Consumption, Says Report

News 18  

Mumbai, Jan 28: The forthcoming budget needs to delay fiscal consolidation, instead should focus more on supporting the pandemic battered-economy and boost consumption demand by offering income tax soaps and cutting fuel taxes, says a report. In a pre-budget report, India Ratings said it expects the new budget to consolidate and strengthen the plan set out in the last budget, …

Budget 2022: 6 challenges govt needs to address this year
2 years, 10 months ago

Budget 2022: 6 challenges govt needs to address this year

India Today  

The government is all set to present the Union Budget 2022 at a time when the country's economy is striving to recover after being hit hard by the Covid-19 pandemic. In Budget 2022, the Government should first focus on increasing investment in infrastructure, followed by enhancing job creation through higher incentivized expansion of manufacturing capabilities, an ASSOCHAM survey has noted. …

Union Budget 2022: India Expects Reform-Oriented Budget To Further Strengthen Macroeconomic Resilience
2 years, 10 months ago

Union Budget 2022: India Expects Reform-Oriented Budget To Further Strengthen Macroeconomic Resilience

ABP News  

The Union Budget 2022-23 will be presented for the second time in a row during the Covid-19 pandemic. Reduced costs of doing business and a level playing field in the country will increase the competitiveness of our industry and exporters and will reduce imports of the items where India has domestic capabilities. The MSMEs have been playing an unprecedented role …

Union Budget 2022-23: 4 steps govt can take to ease burden on taxpayers
2 years, 10 months ago

Union Budget 2022-23: 4 steps govt can take to ease burden on taxpayers

India Today  

The Covid-19 pandemic has not only hit jobs but also left a large number of households grappling with rising living costs. NEW TAX REGIME ADJUSTMENTS The previous budget did not provide any major relief to the salaried class and experts said the government must consider revising the personal income tax slab in the Union Budget 2022-23. Many experts believe that …

Union Budget 2022-23: Will govt give booster shot to tackle rising inflation?
2 years, 10 months ago

Union Budget 2022-23: Will govt give booster shot to tackle rising inflation?

India Today  

Rising inflation has taken a massive toll on Indian households as economic disruptions triggered by the Covid-19 pandemic continue to impact jobs and incomes. In view of deteriorating income and the rising cost of essential goods, millions of households are expecting the government to provide some form of relief in the upcoming Union Budget 2022-23. Poorer and middle income households …

Budget 2022: Date, Time, Key Things to Watch Out For
2 years, 10 months ago

Budget 2022: Date, Time, Key Things to Watch Out For

News 18  

Union Budget 2022: Since decades, the central government holds a budget session in the Parliament where a host of decisions regarding the country’s economic growth, and its economy in general, is taken. Here is Everything You Need to Know About Union Budget 2022 Budget 2022 Date and Time The Union Budget will be presented on February 1, Tuesday by the …

For the Union Budget, the priorities and challenges
2 years, 11 months ago

For the Union Budget, the priorities and challenges

Hindustan Times  

The 2022 Union Budget will be presented as India completes two tumultuous years of the Covid-19 pandemic and the attendant economic slowdown. The Centre for Economic Data and Analysis at Ashoka University discussed Pew Research Centre’s estimates for India, which showed that the country’s middle-income population shrunk by 32 million. This context to the 2022 budget reinforces the point that …

Budget 2022: FM may seek to balance growth and consolidation beyond COVID, feels Radhika Rao of DBS Group Research
2 years, 11 months ago

Budget 2022: FM may seek to balance growth and consolidation beyond COVID, feels Radhika Rao of DBS Group Research

Firstpost  

DBS Research Group’s Radhika Rao feels that above-target revenue and strong nominal GDP are expected to help absorb the increase in spending, keeping FY22 deficit at -6.8 percent of GDP Radhika Rao, Senior Economist at DBS Group Research, feels that besides managing the COVID-19 pandemic, this Budget will seek to strike a balance between growth and consolidation. “We also remain …

The budget must aim at reforms and create new shock absorbers
2 years, 11 months ago

The budget must aim at reforms and create new shock absorbers

Live Mint  

The Union Budget for 2022-23 is being announced in exceptional circumstances—a nascent economic recovery is gathering pace, investor confidence is on the upswing and Indian stock markets are booming. The government should fast-track existing infrastructure projects, rather than go for new ones, since they generally have long gestation periods. The government should consider replacing bank guarantees with surety bonds and …

Union Budget 2022-23: Why India needs Budget for greater common good amid pandemic
2 years, 11 months ago

Union Budget 2022-23: Why India needs Budget for greater common good amid pandemic

Firstpost  

Coming to terms with an urgency to support the lives and livelihoods badly hit by COVID-19, the Union Budget 2022-23 is an opportunity to streamline the much-needed policy measures. It is vital to recall that right before the global pandemic made an unprecedented contraction that was regarded by the Reserve Bank of India as “historic technical recession”, the world’s major …

Improvement in budget deficit as COVID recovery provides economic boost in first half of 2021
3 years, 2 months ago

Improvement in budget deficit as COVID recovery provides economic boost in first half of 2021

ABC  

The federal government has revealed the budget deficit was $27 billion lower than forecast in the May budget. Key points: Treasurer Josh Frydenberg says lower unemployment is to thank for the improvement The original forecast was for a $161 billion deficit for the 2020-21 financial year The extended lockdowns in NSW, Victoria and the ACT are expected to increase this …

‘Time not ripe for fiscal consolidation’
3 years, 4 months ago

‘Time not ripe for fiscal consolidation’

The Hindu  

The time is not yet ripe for fiscal consolidation, and deeper reforms will be undertaken as soon as the impact of the COVID-19 pandemic is overcome, Finance Minister Palanivel Thiaga Rajan said on Friday. “An effective Samadhan Scheme will be launched to clear the pending dues of ₹28,000 crore under the Tamil Nadu Value Added Tax and other legacy legislation.” …

India's fiscal deficit in 2020-21 lower than expected
3 years, 6 months ago

India's fiscal deficit in 2020-21 lower than expected

The Hindu  

India recorded a fiscal deficit of 9.3% of GDP in 2020-21, 0.2% lower than the revised estimate of 9.5% of GDP, according to the Controller General of Accounts. Total revenue receipts turned out to be about ₹88,000 crore higher than estimated, driven largely by higher excise and customs collections, while total expenditure was ₹61,000 crore more than the revised estimate. …

Private Investment Missing in Action, Cautions RBI in its Monthly Bulletin
3 years, 9 months ago

Private Investment Missing in Action, Cautions RBI in its Monthly Bulletin

News 18  

The Reserve Bank of India in its monthly bulletin for February 2021 said that India’s economic activity is gaining momentum as Covid-19 incidence recedes but private investment still remains a concern. RBI Governor Shaktikanta Das had on Wednesday had said that the Centre needs to ramp up spending on the infrastructure sector which will in turn help in pooling in …

Budget Tilted Towards Supporting Growth; FY22 Fiscal Deficit Target of 6.8% Realistic: Moody's
3 years, 9 months ago

Budget Tilted Towards Supporting Growth; FY22 Fiscal Deficit Target of 6.8% Realistic: Moody's

News 18  

India’s Budget is tilted towards supporting growth and the fiscal deficit target of 6.8 per cent for 2021-22 is realistic, Moody’s Investors Service said on Thursday. It said the government’s fiscal deficit for 2020-21 and 2021-22 should be lower than projected, supported by stronger revenue generation in ongoing March quarter and higher nominal GDP growth in the next fiscal year. …

Union Budget 2021-22: Wages of inequality
3 years, 10 months ago

Union Budget 2021-22: Wages of inequality

The Hindu  

Like the COVID-19 pandemic, the Union Budget for 2021-22 was also hyped to be a once-in-a-lifetime affair. Total expenditures, after excluding capital expenditures, are projected to decline from Rs.30.11 lakh crore in the current year to Rs.29.29 lakh crore in 2021-22, an almost 3 per cent decrease. In fact, revenues for 2021-22 are projected at Rs.17.9 lakh crore, 11 per …

Union Budget 2021: FM gives major focus to infra, health; to boost economy through multiplier effect
3 years, 10 months ago

Union Budget 2021: FM gives major focus to infra, health; to boost economy through multiplier effect

Firstpost  

This Union Budget has been very pragmatic and positive. This will boost the economy through the multiplier effect and helping other ancillary sectors and create jobs rather than what direct consumption boosting measures would have. The measures taken such as setting up a Development Finance Institution, a fairly rational blueprint for asset monetization, enabling debt financing of InVITs and REITs …

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