Ex-RBI Governor bats for imposing restraints on freebies by political parties, gives THESE suggestions
8 months ago

Ex-RBI Governor bats for imposing restraints on freebies by political parties, gives THESE suggestions

India TV News  

Former Reserve Bank of India Governor D Subbarao said the Modi government should come out with a 'White paper' to generate consensus among political parties on the issue of giveaways or freebies. On some of the states crossing Fiscal Responsibility and Budget Management limits, he said states and the central government should maintain fiscal discipline and the FRBM targets should be adhered to. To a query, Subbarao said that according to the IMF which has done a study, India needs to grow at the rate of 7.6 per cent consistently till 2047 for it to become a developed nation by then. Subbarao had earlier said that even after becoming the third largest economy in the world by 2029 as envisaged by Prime Minister Narendra Modi, India may still be called a poor country and therefore it does not call for a celebration.

Political Political Parties India Rbi Subbarao  white  gives  subbarao  fiscal  bats  imposing  suggestions  consensus  political  governor  india  rbi  restraints  say  exrbi  freebies  parties

History of this topic

Affidavits will not fix freebies
2 years, 2 months ago

Affidavits will not fix freebies

Hindustan Times  

In what appears to be yet another effort to tackle the problem of freebies, the Election Commission of India has proposed – views of political parties have been sought on the issue – an amendment to the Model Code of Conduct for elections. The proposed amendment asks that political parties come clean on the fiscal costs of political promises made …

Poorly-directed freebies may have adverse consequences on economy: Experts
2 years, 3 months ago

Poorly-directed freebies may have adverse consequences on economy: Experts

Firstpost  

The Supreme Court recently said freebies at the cost of taxpayers’ money may push the country towards imminent bankruptcy New Delhi: Poorly-directed freebies may wreak havoc on state finances and have adverse consequences on the economy as in the case of Sri Lanka, experts say while noting it is important to define a freebie and how it is different from …

Don\'t burden utilities, pay for freebies from budgets: FM
2 years, 3 months ago

Don\'t burden utilities, pay for freebies from budgets: FM

Deccan Chronicle  

MUMBAI: Union Finance Minister Nirmala Sitharaman on Friday said political parties that come to power on pre-poll promises of freebies should pay for those through budgetary provisions. Citing the example of free electricity being promised in many states, the finance minister said the burden for the freebies should not be thrust upon the power discoms or gencos. You should be, …

Are freebies a way to mask state inaction?
2 years, 4 months ago

Are freebies a way to mask state inaction?

The Hindu  

In March 2021, Thulam Saravanan, a legislative Assembly candidate for the Madurai South constituency in Tamil Nadu, offered extraordinary sops such as ₹1 crore and a car worth ₹20 lakh for each household, a robot for every homemaker, ₹1 crore to youth looking to start a business, a 100-day trip to the moon, a 300-feet artificial glacier to keep people …

All Political Parties Are in Favour of Freebies, Says Supreme Court
2 years, 4 months ago

All Political Parties Are in Favour of Freebies, Says Supreme Court

News 18  

New Delhi: All political parties including BJP are in favour of freebies and due to this a judicial attempt has been made to deal with it, said the Supreme Court on Tuesday while deliberating with a PIL opposing promises of such handouts by the parties during polls. Solicitor General Tushar Mehta said that nobody has an issue with the social …

Should there be limits on ‘freebies’
2 years, 4 months ago

Should there be limits on ‘freebies’

The Hindu  

While hearing a petition demanding the de-recognition of political parties that promise “irrational freebies” to voters, the Supreme Court recently drew attention to the substantial fiscal cost of freebies. Also, even if people are sitting at the top of the income distribution pyramid, you could still see something that the petitioner describes as a “freebie” as a welfare measure. But …

Should there be limits on ‘freebies’? | The Hindu Parley podcast
2 years, 4 months ago

Should there be limits on ‘freebies’? | The Hindu Parley podcast

The Hindu  

While hearing a petition demanding the de-recognition of political parties that promise “irrational freebies” to voters, the Supreme Court recently drew attention to the substantial fiscal cost of freebies. The court noted that a legislation banning freebies is not advisable, but at the same time called for a balance between welfare measures and loss to the public exchequer. The Supreme …

Freebies can become burden for future, says former RBI Governor
2 years, 4 months ago

Freebies can become burden for future, says former RBI Governor

The Hindu  

Former Reserve Bank of India Governor D. Subba Rao on Monday sought to caution how freebies unless targeted can become a burden for future generations. Mr. Rao, responding to queries after delivering an address on India @75 - Marching Towards $5 Trillion Economy, said this pointing to how the Prime Minister has triggered a debate on the important issue. To …

Supreme Court not in favour of derecognising political parties over freebies
2 years, 4 months ago

Supreme Court not in favour of derecognising political parties over freebies

The Hindu  

The Supreme Court on August 11, 2022 refused to consider the question of derecognising political parties who resort to freebies. The apex court was considering the question of reining in the practice of political parties offering "irrational freebies" to the electorate if they are voted to power, especially in states which are already drowning in debt. Sheer loss to national …

Sop or welfare debate: The Hindu Editorial on freebies
2 years, 4 months ago

Sop or welfare debate: The Hindu Editorial on freebies

The Hindu  

A general concern over ‘freebies’ pushing the economy to ruin or unviable pre-election promises adversely affecting informed decision-making by voters seems reasonable. However, few will disagree that what constitutes ‘freebies’ and what are legitimate welfare measures to protect the vulnerable sections are essentially political questions for which a court of law may have no answer. The Chief Justice of India, …

What courts have said on 'freebies' from parties during elections
2 years, 8 months ago

What courts have said on 'freebies' from parties during elections

India Today  

During a lengthy meeting with PM Narendra Modi on April 2, several top bureaucrats expressed concern over populist schemes and freebies announced by political parties during assembly elections. On January 25, 2022, the Supreme Court issued a notice to the Election Commission of India and the Centre on the issue of political parties wooing voters with the promise of freebies …

Discover Related