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Articles for Frbm

Cong govt. never crossed FRBM limit and cleared pending bills: Bhatti
1 week ago

Cong govt. never crossed FRBM limit and cleared pending bills: Bhatti

Deccan Chronicle  

Hyderabad: Deputy Chief Minister Bhatti Vikramarka Mallu has said that people were giving their verdict once in six months against the BRS leaders for the blunders committed by them during their 10-year rule. While BRS leaders kept Rs.40,000 crore bills pending, the Congress government cleared Rs.14,000 crore so far. The BRS leaders kept Rs.18,000 crore bills pending in the Civil …

Congress Opposition Leaders Crore Brs Cong Brs Leaders
The Kerala-Centre dispute over States’ borrowing powers | Explained
8 months, 3 weeks ago

The Kerala-Centre dispute over States’ borrowing powers | Explained

The Hindu  

The story so far: The Supreme Court on Monday declined any interim relief to Kerala in its suit seeking that the Union government relax its borrowing restrictions to enable the State to borrow additional funds during the current fiscal year. In November last year, Kerala Chief Secretary V. Venu apprised the Kerala High Court that the State was in a …

Finance India Kerala Financial Constitution Court States
Rethink the emerging dynamics of India’s fiscal federalism
1 year, 3 months ago

Rethink the emerging dynamics of India’s fiscal federalism

The Hindu  

A ‘holding together federation’ with a built-in unitary bias, the Indian Constitution was the contextual product of centrifugal forces and fissiparous tendencies in the run-up to Independence. The paradigm shift from a planned economy to a market-mediated economic system, the transformation of a two-tier federation into a multi-tier fiscal system following the 73rd and 74th Constitutional Amendments, the abolition of …

Finance India Budget States Union State List
KCR finalises strategy to take on BJP in Telangana Assembly
2 years, 1 month ago

KCR finalises strategy to take on BJP in Telangana Assembly

Deccan Chronicle  

Hyderabad: Chief Minister K. Chandrashekar Rao has decided to hold a week-long Assembly session in December to castigate the ruling BJP at the Centre on a number of issues, most notably the losses incurred by the state as a result of “unnecessary restrictions” imposed by the Modi government in the current fiscal year 2022-23, “ludicrous economic policies” becoming a stumbling …

Telangana State Crore Centre Release Cmo Frbm
West Bengal govt breached loan limit with Reserve Bank, says BJP
2 years, 1 month ago

West Bengal govt breached loan limit with Reserve Bank, says BJP

Firstpost  

Taking to Twitter, Suvendu Adhikari, the BJP MLA from Nandigram urged the Union Finance Ministry to advise the West Bengal government to generate internal revenues by modifying its land policy Kolkata: Suvendu Adhikari, the Leader of the Opposition in West Bengal, today claimed that the state government has “breached its borrowing limit” under the Fiscal Responsibility & Budget Management Act …

West Bengal Opposition West State Bjp Crore Bengal
Rao accuses of BJP of ruling through backdoor means, says it will fall in \'24 polls
2 years, 3 months ago

Rao accuses of BJP of ruling through backdoor means, says it will fall in \'24 polls

Deccan Chronicle  

Hyderabad: Stepping up the attack on the BJP after announcing plans to set up a national party, Chief Minister K. Chandrashekar Rao said that the BJP is ruling the country with just a 36 per cent vote share and that a non-BJP government will come to power in the Centre in 2024, when the next Lok Sabha polls are scheduled. …

States Reforms Power Lok Sabha Telangana State Bjp
Centre destroying spirit of federalism: KCR
2 years, 4 months ago

Centre destroying spirit of federalism: KCR

Deccan Chronicle  

Hyderabad: Soon after Prime Minister Narendra Modi underscored the fight against 'parivaarvaad' and corruption in his Independence Day speech, Chief Minister K. Chandrashekar Rao lashed out at the BJP-led Centre, accusing it of destroying the "spirit of federalism." In his Independence Day speech at Golconda Fort on Monday, Rao accused the Centre of conspiring to weaken states economically by imposing …

India States Debt Telangana State Centre Cent
States, freebies and the costs of fiscal profligacy
2 years, 5 months ago

States, freebies and the costs of fiscal profligacy

The Hindu  

During the planning last year and the campaign ahead of the Punjab Assembly election, the Aam Aadmi Party promised a sum of ₹1,000 per month to every woman in the State. When questioned how Punjab, already reeling under heavy debt, could afford this, Mr. Kejriwal said something to the effect that if there is good political management, money would not …

Constitution Budget States Debt State Punjab Centre
Central government yet to respond to Telangana government’s request to raise funds through open market borrowings
2 years, 7 months ago

Central government yet to respond to Telangana government’s request to raise funds through open market borrowings

The Hindu  

The Central government is yet to respond to the Telangana government’s request to raise funds through open market borrowings via the Reserve Bank of India. The crux of the matter pertains to: a) the Comptroller and Auditor General of India expressing concerns over the State’s off-budget borrowings; and b) the Union Finance Secretary raising serious questions over Telangana’s borrowings in …

Finance Telangana State Crore Centre Funds Rbi
Telangana can raise funds through bonds, says Centre
2 years, 7 months ago

Telangana can raise funds through bonds, says Centre

Deccan Chronicle  

Hyderabad: The Centre is learnt to have granted “conditional approval” to the state government to raise funds through the auction of bonds this month, after hearing concerns of the state finance department officials. Rao pointed out that the Centre had given states Rs 12,000 crore in 2020-21, Rs 15,000 crore in 2021-22 and Rs 1 lakh crore in 2022-23 towards …

Finance Auction State Crore Centre Funds Rao
The great financial crunch: How the pandemic sank Indian states
3 years, 8 months ago

The great financial crunch: How the pandemic sank Indian states

Live Mint  

BENGALURU : Financial year 2020-21 was catastrophic for the finances of most Indian states, which were in any case already reeling from an economic downturn over the past few years. FRBM and austerity Under the Fiscal Responsibility and Budget Management Act, passed in 2003, states are mandated to keep their fiscal deficit within 3% of their gross state domestic product. …

India Pandemic Tax Taxes States Tax Devolution Grants
Finance Commission Report Pulls up Tamil Nadu Over Revenue Account Deficit, Praises Contribution of PSUs
3 years, 10 months ago

Finance Commission Report Pulls up Tamil Nadu Over Revenue Account Deficit, Praises Contribution of PSUs

News 18  

Chennai: The 15th Finance Commission report submitted in Parliament two days ago has said that the financial situation of the Tamil Nadu government has deteriorated over the years and it is time the government has to pull its socks. It needs to continue on the credible debt path and careful calibration of expenditure for generating future streams of income, said …

Tamil Nadu Tamil State Commission Nadu Fdi Gsdp
Range for Fiscal Deficit Target Rather than Number: 15th Finance Commission Panel's Suggestion for Centre, States
4 years, 3 months ago

Range for Fiscal Deficit Target Rather than Number: 15th Finance Commission Panel's Suggestion for Centre, States

News 18  

The economic advisory panel of the 15th finance commission on Friday suggested providing a range rather than a number as fiscal deficit targets for both the Centre and states in a report, the commission’s chairman N K Singh said on Friday. In the 2020-21 Budget, the government had used the escape clause of 0.5 per cent relaxation provided in the …

States Commission Singh Centre Cent Range Deficit
In the name of ‘cooperative federalism’
4 years, 5 months ago

In the name of ‘cooperative federalism’

The Hindu  

India is in the midst of the Bharatiya Janata Party ’s decade of governance. For example, Centre owed States about ₹35,000 crore as GST compensation for December 2019 and January 2020, which was only paid in June 2020 after a delay of more than five months. According to a study by the Centre for Policy Research, there is a ₹6.84 …

Finance India States West Bengal Federalism State Crore