Arup Roychoudhury

All stories by Arup Roychoudhury

After 40% rise in Q1, capital expenditure dropped in July

After 40% rise in Q1, capital expenditure dropped in July

Rediff.com8 Sep 2020

Almost all infrastructure ministries continued spending on capex throughout the lockdown, even as the Centre tried to maintain some semblance of economic normalcy.

Q1 GDP data: Employment-creating sectors hit the most

Q1 GDP data: Employment-creating sectors hit the most

Rediff.com2 Sep 2020

The sudden stop in economic activity led to a sharp decline in employment-intensive sectors like construction, manufacturing and trade, hotels, transport etc.

FinMin unlikely to take Covid-hit FY21 as a base for FY22 Budget

FinMin unlikely to take Covid-hit FY21 as a base for FY22 Budget

Rediff.com14 Aug 2020

Instead, 2019-20 could be the base from which the Budget estimates for next year are calculated.

Revealed: Modi's plans for the economy

Revealed: Modi's plans for the economy

Rediff.com3 Aug 2020

he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.

As COVID decimates tax revenues, govt eyes higher RBI surplus this year

As COVID decimates tax revenues, govt eyes higher RBI surplus this year

Rediff.com8 Jul 2020

The thinking at the Centre is that since the RBI has ramped up purchases of government bonds, the interest earned on them will be transferred to the exchequer as dividend.

'Why are even our sewing needles made in China?'

'Why are even our sewing needles made in China?'

Rediff.com8 Jul 2020

'We are not able to manufacture even low-end products as cheaply as China.' 'We are not buying Chinese goods today out of any love for China.'

Govt may get RBI to monetise fiscal deficit

Govt may get RBI to monetise fiscal deficit

Rediff.com6 Jul 2020

So far, the RBI has been 'indirectly monetising' by increasing the purchases of G-Secs in the secondary market through open-market operations.

Govt readies plan to boost demand with infra spend, cash transfer

Govt readies plan to boost demand with infra spend, cash transfer

Rediff.com11 Jun 2020

This includes an infrastructure push which may lead to the government spending more than its budgeted capital expenditure for 2020-21. There are also discussions on increasing the scope and quantum of direct cash transfers to the beneficiaries who need it the most.

Current fiscal deficit may go up to 5.3% of GDP: CEA

Current fiscal deficit may go up to 5.3% of GDP: CEA

Rediff.com6 Jun 2020

'Given the 50 per cent or thereabouts increase in borrowing that has been announced, it is a reasonable estimate to say that at this time, an increase of 1.7-1.8 per cent on the 3.5 per cent budgeted fiscal deficit target is being anticipated,' Chief Economic Adviser Krishnamurthy Subramanian said on Friday.

'This was not specifically a COVID package'

'This was not specifically a COVID package'

Rediff.com30 May 2020

'It is a package for a new self-reliant India.'

Govt wants PSUs to ramp up dividends, share buybacks

Govt wants PSUs to ramp up dividends, share buybacks

Rediff.com28 May 2020

This comes at a time when the COVID-19 crisis is expected to derail the government's revenue maths for 2020-21, hitting the mop-up from sources such as taxes and divestment.

How states can avail extra borrowing from the markets

How states can avail extra borrowing from the markets

Rediff.com20 May 2020

These conditions are implementation of the 'One Nation, One Ration Card' scheme, ease of doing business, power sector reforms, and urban local body reforms.

Sitharaman may announce Rs 3 trillion stimulus package this week

Sitharaman may announce Rs 3 trillion stimulus package this week

Rediff.com12 May 2020

There could be multiple measures announced in quick succession, not only by the finance minister but also other ministers regarding their respective sectors, and by the Reserve Bank of India. The total size of these announcements could rival that of other G-20 nations as a percentage of GDP.

Many challenges await new FinMin secretary

Many challenges await new FinMin secretary

Rediff.com2 May 2020

The finance minister is ready to present a second financial package. The Centre has ruled out a mega stimulus and will rely on targeted, incremental packages. Industry is clamouring for a bailout, the liquidity upheaval in capital markets is nowhere close to being sorted out, and all budgetary forecasts now stand irrelevant, reports Arup Roychoudhury.

Industry will have to wait, 2nd stimulus package to target MSMEs, weaker sections

Industry will have to wait, 2nd stimulus package to target MSMEs, weaker sections

Rediff.com29 Apr 2020

The beneficiaries of the second set of announcements are expected to be micro, small, and medium enterprises, farmers, women, poor, migrant workers, and other marginalised sections of the society, reports Arup Roychoudhury.

RBI unlikely to monetise Centre's fiscal deficit

RBI unlikely to monetise Centre's fiscal deficit

Rediff.com21 Apr 2020

This is because the bond market has factored in the Rs 4.88-trillion gross borrowing for April-September 2020.

Uncertainty looms over Rs 2.1-trn divestment target

Uncertainty looms over Rs 2.1-trn divestment target

Rediff.com13 Apr 2020

The worst-case scenario is the two marquee names up for privatisation - Air India and Bharat Petroleum - may not happen this year, and what the Centre may get in divestment proceeds could just be a fraction of the target.

RBI admits GDP forecasts were off the mark

RBI admits GDP forecasts were off the mark

Rediff.com10 Apr 2020

The downward surprise in Q2 stemmed from a stronger-than-anticipated drag from gross fixed capital formation and marginal weakness in private final consumption expenditure. In Q3, projection errors emanated mainly from a steep unanticipated contraction in gross fixed capital formation, which was the deepest in the new series of GDP.

Centre allows states to borrow 50% of '20-'21 limit in April

Centre allows states to borrow 50% of '20-'21 limit in April

Rediff.com6 Apr 2020

This permission was given some time late last month, before the Reserve Bank of India (RBI) on March 31 issued the indicative borrowing calendar for the states for April-June and the one for the Centre for April-September.

Coronavirus puts spotlight on looming fiscal deficit

Coronavirus puts spotlight on looming fiscal deficit

Rediff.com1 Apr 2020

To meet the revised estimates for 2019-20, the central government will have to garner Rs 5.03 trillion in total revenues in March, which has seen the worst phase of the coronavirus pandemic so far and the resultant lockdown.

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