Page 3 - Latest Updates on Fiscal Policy
Incentivising fiscal prudence for states
Debt is projected to increase by the largest amount in the same states that are currently the most heavily indebted
 "Incentivising fiscal prudence for states")
Should states cough up higher interest rates for their fiscal profligacy?
Debate over how states manage their finances likely to pick up as the constitution of the 16th Finance Commission is round the corner
 "Should states cough up higher interest rates for their fiscal profligacy?")
Missing female scientists and reforming the creaking policy machine
From fiscal policy to fixing India's steel frame, here is a summary of book reviews from the pages of Business Standard this week
 "Missing female scientists and reforming the creaking policy machine")
Budget 2023 aims at providing a stable direct tax regime
At the domestic front, the government presented its last full budget wherein it had to maintain a balance in fueling growth trajectory, while being on the path of fiscal prudence, say analysts
 "Budget 2023 aims at providing a stable direct tax regime")
Economic growth to slide to 7% in 2022-23: Fiscal policy statement
India's public digital infrastructure expansion is leading to accelerated financial inclusion for low-income households, micro and small businesses, and the economy's rapid formalisation
 "Economic growth to slide to 7% in 2022-23: Fiscal policy statement")
High inflation causing tension between monetary and fiscal policy: Gopinath
On what needs to change, she said for the countries to manage such a difficult trade-off right, fiscal policy has to play a role
 "High inflation causing tension between monetary and fiscal policy: Gopinath")
TMS Ep338: Demonetisation verdict, free food grain, markets, living wage
What does the SC's demonetisation verdict mean? Will free food grain scheme affect Centre's fiscal planning? Will India Inc see a turnaround in Q3FY23 results? What is a living wage? All answers here
 "TMS Ep338: Demonetisation verdict, free food grain, markets, living wage")
Will free food grain scheme affect Centre's fiscal planning?
The pandemic made the govt to launch Pradhan Mantri Garib Kalyan Anna Yojana to provide free food grains to the poor. It has now been scrapped. What will be its impact?
 "Will free food grain scheme affect Centre's fiscal planning?")
Pent-up demand, infra spend drove growth amid global headwinds: FinMin
In its latest Monthly Economic Review, the Ministry said global economic developments remain complicated in November, and that fiscal and monetary policymakers need to remain vigilant
RBI policy: Here is why the central bank needs to stop raising rates
RBI, following conventional wisdom, is guilty of wanting to show that it's doing something to bring down inflation while perhaps helping worsen it by slowing down efforts to increase capacity, output
Govt likely to roll back states' ability to borrow more, says report
New Delhi has already stopped compensating states for the switch to the Goods and Services Tax regime from this year
 "Govt likely to roll back states' ability to borrow more, says report")
Demand for musical instruments up; Chennai, Kolkata rank as top exporters
India exported $22 million worth of musical instruments and their accessories in the first half of the current fiscal year, as compared to $38.5 million in the previous year
 "Demand for musical instruments up; Chennai, Kolkata rank as top exporters")
Budget 2023: Exporters urge govt for fiscal incentives, lower customs duty
The meeting took place at a time when external demand is waning as exporters are facing global headwinds of high inflation, currency depreciation and geopolitical tensions
 "Budget 2023: Exporters urge govt for fiscal incentives, lower customs duty")
PMGKAY likely to end in December on fiscal, foodgrain constraints
"The food subsidy burden is already crossing Rs 3 trillion and we are hopeful that it will be brought down below that mark," said a senior government official
 "PMGKAY likely to end in December on fiscal, foodgrain constraints")
Bad structure, irresponsible politics behind India's poor fiscal governance
Instead of municipalities and states depending on transfers from the Centre, it should be the other way around
 "Bad structure, irresponsible politics behind India's poor fiscal governance")
Best of BS Opinion: Increasing responsibilities, the governor's role & more
Here is the best of Business Standard's opinion pieces for today
 "Best of BS Opinion: Increasing responsibilities, the governor's role & more")
Increasing responsibilities
Fiscal management will become more difficult
 "Increasing responsibilities")
The state of states: Have they really been fiscally profligate?
A couple of states may be guilty of fiscal imprudence. But why tar all of them with the same brush?
 "The state of states: Have they really been fiscally profligate?")
On high inflation, here is what RBI needs to tell govt: It is your fault
All the research since 1980 shows that loose fiscal policy causes inflation, and the RBI MPC needs to tell the govt just that
Act now to bring down inflation, safeguard financial stability: IMF Chief
The International Monetary Fund urged policy makers across the world to act now to bring down inflation, put in place responsible fiscal policy, and safeguard financial stability
 "Act now to bring down inflation, safeguard financial stability: IMF Chief")
