To make possible discretionary spending including capex and that on welfare, the government decided to borrow more than planned in FY21 -- Rs 12.7 trillion.
That's a big change that was made possible due to corporate tax cuts. Corporation tax collection in FY22 will be lower than even the FY18 levels, reports
The continuing fiscal stimulus is heavily tilted towards capex, to the extent that it chips away a part of revenue spending. Accounting for other areas of revenue expenditure, such as salaries, pensions, subsidies and defence (committed spend), the room to spend on welfare schemes, health and education will narrow in FY22.
The PM's visit would signal a strong intent towards making sure India becomes a beneficiary as vaccines become a massively traded commodity in the coming years.
Overall, small savings have amassed Rs 1.17 trillion from April-September - 26 per cent more than the previous year. But in those six months, the economy lost 24 per cent in the first three months, and is slated to lose 10 per cent in the second quarter.
It is a classic case of extremes: The worst contraction in GDP along with the highest-ever levels of cash in the economy; and a severe dent in consumption together with strong growth in bank deposits and digital payments.
Data shows that the current system of decentralised marketing and centralised procurement helps Punjab and Haryana farmers the most, while its efficacy in other states has been poor. Experts and farm leaders say success of the laws rests heavily on implementation.
Funding challenges are not limited to just one think tank. Several scholars say that access for conducting research and getting foreign funds has become a major hurdle for think tanks, with the government raising many questions regarding such inflows. As a result, many think tanks are keeping a low profile and becoming less prolific.
The government's main rate setting panel suggested that this be done in two tranches of Rs 2,500 each in the kharif and rabi seasons.
It bounced back from the historic low of 41 recorded in the April-June quarter, during the initial days of the pandemic and lockdown.
Exim Bank pointed out that recent performance of the manufacturing sector in India is indicative of an underlying inertia.
The background work of creating a suitable digital architecture of a website also remains unfinished as it has been a challenge to shortlist technology partners.
'Given that the globally most prevalent clade of SARS-CoV-2 is also predominant in India, any vaccine or drug that gets developed in the world should also prove effective in India'
Created over the past 12-15 months, Niti's new Export Preparedness Index flagged the major intra-and inter-regional disparities in export infrastructure, problems in trade support and lack of unique exports as the main challenges hampering export growth.
One in five students drop out from school.
Infra segment, refinery product impacted the most, even as contraction narrows in latest month.
Existing trade deals, especially the 2009 pact with the Asean bloc, have been panned by the Centre for not boosting exports but flooding the domestic market with cheap imports. Subsequently, New Delhi has called for reviewing FTAs with Japan and South Korea. Going by that, a trade deal with the US is unlikely to be beneficial, say experts.
The spending on a typical RT-PCR test would take up 23 per cent of the monthly income of an average Indian, compared to 2 per cent in China. This is one of the deepest cuts in the pocket of an individual, in comparison to 14 other countries, reports Abhishek Waghmare.
Though the government has been pushing for exports of high-value manufactured goods across major markets in place of raw materials and input goods, India's top exports to China remain in the raw materials category.
Free provision of food, cash transfers, and jobs in villages see enhanced flow of funds despite a precipitous fall in revenue. Till May, defence spend was nearly 30 per cent less than the previous year.
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