Business Standard

Monday, January 20, 2025 | 10:43 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Fiscal Economics

April-June fiscal deficit at Rs 1.36 trillion, 8.1% of 2024-25 target

Total government expenditure during the period was Rs 9.7 trillion, or about 20.4 per cent of the annual goal, lower than the Rs 10.51 trillion in the same period last year

April-June fiscal deficit at Rs 1.36 trillion, 8.1% of 2024-25 target
Updated On : 31 Jul 2024 | 5:12 PM IST

Kerala criticises Centre's fiscal approach, notes low alcohol tax revenue

The Kerala Government on Thursday criticised the BJP-led Centre's fiscal approach towards the state, noting that the state had to seek a solution to the financial impasse in the Supreme Court. The state government also clarified that only 3.7 per cent of Kerala's own tax revenue comes from alcohol, which is one of the lowest percentages among all states, contrasting with those where it can be as high as 22 per cent. These were part of the customary policy address which was presented before the State Assembly by Governor Arif Mohammed Khan. Khan swiftly concluded the address by reading out only its final paragraph. "My Government places the considered opinion before the Union Government that Kerala should be ensured it's well deserved share in the distribution of taxes. My Government views with concern the holding back of eligible grants and share of assistance in Centrally Sponsored Schemes. "My Government is put to added liquidity stress because of the retrospective cut in borrowi

Kerala criticises Centre's fiscal approach, notes low alcohol tax revenue
Updated On : 25 Jan 2024 | 1:52 PM IST

China's economy expanded 5.2% in 2023, though recovery seems uneven

China's economy for the October-December quarter grew at a quicker rate, allowing the Chinese government to hit its target of about 5 per cent annual growth for 2023 even though trade data and the economic recovery remain uneven. Official data released on Wednesday showed that the Chinese economy grew 5.2 per cent for 2023, surpassing the target of about 5 per cent that the government had set. The growth for 2023 is likely helped by 2022's GDP of just 3 per cent as China's economy slowed due to COVID-19 and nationwide lockdowns during the pandemic. For the fourth quarter, China's gross domestic product also grew at 5.2 per cent compared to the same time last year. On a quarterly basis, the economy rose 1 per cent in Q4, slowing from the expansion of 1.3 per cent in July-September. Officials from China's National Bureau of Statistics said that measures including strengthened macro regulation, and redoubled efforts to expand domestic demand, optimize structure, boost confidence and .

China's economy expanded 5.2% in 2023, though recovery seems uneven
Updated On : 18 Jan 2024 | 12:30 AM IST

India's going back to import substitution is wrong way to go: Anne Krueger

Anne Krueger, First deputy managing director of the International Monetary Fund spoke on India's growth prospects

India's going back to import substitution is wrong way to go: Anne Krueger
Updated On : 22 Oct 2023 | 10:29 PM IST

GST regime altered contours of fiscal federalism in India: Debroy

The Goods and Services Tax regime has altered the contours of fiscal federalism in India, and steady growth of GST revenue is a robust barometer of the reform's success, Economic Advisory Council to the PM (EAC-PM) chairman Bibek Debroy said. In a working paper titled 'How the Pennies Drop: What GST revenue data tells us and What it doesn't', Debroy also proposed constructing a GST Rate Index to help track relative movements of the tax rates and get a sense of how it impacts tax collections and taxpayer behaviour. "The introduction of a Goods and Services Tax (GST) in India in 2017 not only impacted the economy but it also altered the contours of fiscal federalism in India. "Amongst others, the steady growth of GST revenue has been a robust barometer of the success of the reform," he said. Debroy also suggested a novel mechanism for computing the collection rate of GST, using only publicly available data, saying this has potential applications in revenue modelling; analysis of tren

GST regime altered contours of fiscal federalism in India: Debroy
Updated On : 13 Oct 2023 | 11:13 PM IST

Low nominal Q1 growth results in fiscal pressures

On the fiscal side, the monthly data released by the CGA shows that the direct tax collections contracted by 1% in the first quarter of 2023-24

Low nominal Q1 growth results in fiscal pressures
Updated On : 01 Sep 2023 | 12:20 AM IST

Spurring fiscal equality: Ratio of GST to GSDP higher in poorer states

One aspiration for the GST system was that it would lead to regional development as it is a destination-based tax regime

Spurring fiscal equality: Ratio of GST to GSDP higher in poorer states
Updated On : 28 Jun 2023 | 5:58 PM IST

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
Updated On : 21 Nov 2022 | 12:42 PM IST

Fiscal deficit expected to follow previous years' trend in June quarter

Centre's capex outlay may touch 20 per cent of full-year target in Q1 at Rs 1.5 trillion

Fiscal deficit expected to follow previous years' trend in June quarter
Updated On : 29 Jul 2022 | 1:10 PM IST

Sri Lanka misses ADB payment, Lankan PM Wickremesinghe tells Parliament

Sri Lankan Prime Minister Ranil Wickremesinghe on Wednesday said the country has missed a payment to the Asian Development Bank,

Sri Lanka misses ADB payment, Lankan PM Wickremesinghe tells Parliament
Updated On : 19 May 2022 | 1:21 AM IST

15th Finance Commission chairman N K Singh rues lack of fiscal institutions

Says states don't have fiscal flexibility for exigencies as Centre has

15th Finance Commission chairman N K Singh rues lack of fiscal institutions
Updated On : 09 Mar 2021 | 1:07 AM IST

Don't cut fuel taxes

Roll-back will increase fiscal risks

Don't cut fuel taxes
Updated On : 02 Mar 2021 | 10:51 PM IST

Fiscal doves in India: right and wrong

The idea that fiscal prudence and welfare of the less well-off are mutually exclusive is misplaced

Image
Updated On : 17 Feb 2021 | 4:09 AM IST

What explains the Budget's fiscal stance?

Although the budgetary exercise has made a virtue out of necessity, the change in fiscal stance could end up having a happy outcome

What explains the Budget's fiscal stance?
Updated On : 11 Feb 2021 | 11:05 PM IST

A steep fiscal correction

With modest revenue effort, the burden of cutting the deficit will fall on a big expenditure contraction

A steep fiscal correction
Updated On : 09 Feb 2021 | 11:13 PM IST

Best of BS Opinion: Army's pivot to the north, an attack on America & more

Here's a selection of Business Standard opinion pieces for the day

Best of BS Opinion: Army's pivot to the north, an attack on America & more
Updated On : 08 Jan 2021 | 7:00 AM IST

Political economy of fiscal responsibility

The economy requires a fiscal battle plan and this, in turn, requires a fiscal responsibility framework

Image
Updated On : 08 Jan 2021 | 2:48 AM IST

Best of BS Opinion: A new fiscal road map, emission reduction, and more

Here's a selection of Business Standard opinion pieces for the day

Best of BS Opinion: A new fiscal road map, emission reduction, and more
Updated On : 30 Dec 2020 | 6:25 AM IST

In search of a new fiscal road map

Budget 2021 must overhaul the existing FRBM Act to set feasible targets on deficit and debt

In search of a new fiscal road map
Updated On : 29 Dec 2020 | 10:57 PM IST

Wall St set to open near record highs after Trump signs fiscal aid bill

Trading volumes are expected to be slim in the final week of the year, with stock markets being shut on Friday for New Year holiday.

Wall St set to open near record highs after Trump signs fiscal aid bill
Updated On : 28 Dec 2020 | 8:13 PM IST