The Democratic presidential candidate and his running mate John Edwards have pledged to provide fiscal responsibility in the US government.
Stating that a weak fiscal position continues to constrain India's sovereign ratings, Fitch said the next government's medium-term fiscal policy will be of particular importance from a rating perspective.
Unveiling far reaching fiscal reforms to improve tax mop up and wipe out revenue deficit by 2009, the Kelkar panel on Friday proposed a single countrywide goods and services tax, removal of tax exemptions and raising income tax slab to Rs 100,000.
This move will enable it to incur higher-than-mandated borrowing, and possibly spending, till the 2024 Lok Sabha election cycle.
Kerala has seen one of the worst floods in its history during this monsoon. From August 8 to 20, nearly 223 people have lost their lives, 33 are missing and around 1.2 million individuals from 3,02,441 families are in 3,941 relief camps. Initial losses are estimated to be around Rs 200 billion (Rs 20,000 crore). With the rescue measures in its last leg, the Kerala government is looking at raising funds to rebuild the state. In an interaction with Gireesh Babu and T E Narasimhan, Kerala Finance Minister T M Thomas Isaac says he has a three-pronged strategy to raise funds. Edited Excerpts.
The extra borrowing implies Jaitley will have extra spending space in the Union Budget for FY19, the last full one before the 2019 general election
'This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years.'
The economic fundamentals were strong enough to ensure 6-6.5 per cent growth in GDP during 2003-04, while fiscal deficit will be under control, D C Gupta, finance secretary said on Friday.
BJP's reversals in rural Gujarat has prompted many policy watchers to predict that the Budget would have incentives for the agriculture sector and the rural economy.
The government will pre-pay Rs 7,500 crore (Rs 75 billion) worth of bilateral aid this fiscal, besides swapping Rs 38,000 crore (Rs 380 billion) high cost state government debts, Finance Minister Jaswant Singh told Rajya Sabha on Tuesday.
'It's not as if power demand is falling. It's that generation has outpaced demand.'
'The attempt to build a negative narrative about India's economic performance is disingenuous.' 'For the investors as well as the targeted beneficiaries of welfare schemes, the ground reality is very different,' argues Rajiv Kumar, vice-chairman, NITI Aayog.
While the finance minister had a great opportunity to come out with flying colours while presenting this last Budget of his government, he didn't, says Omkar Goswami.
The expectation that Mr Modi would be a major reformer, capable of reinvigorating the Indian economy, were based on a complete misreading of both his actions and his performance as Gujarat chief minister, says Mihir S Sharma.
With less than five months left for the report of the Fifteenth Finance Commission to be submitted, its chairman N K Singh said the report will have fiscal road map for states, depending on their current situation.
The govt said Rs 30,729 crore was required for waiving loans of small and marginal farmers.
There appears to be a growing perception among the political class that faster growth will not create jobs fast enough and, therefore, welfare spending needs to be drastically increased, says T T Ram Mohan.
The industrial output for the third month in a row remained in the negative territory, contracting 1.5% in January
PM's announcement were focused on those most affected by the note ban.
India suffers from peak power deficit of three per cent.
The government plans to raise resources to finance capital spending beyond the Rs 3.10 lakh crore budgeted for 2017-18 through higher borrowing or divestment receipts.
Summary of sports events and persons who made news on Friday
While some CMs suggested reopening economic activity in phases, others pitched for the extension of the coronavirus lockdown, but with a carefully crafted exit strategy
'If some measures are implemented quickly, they can help revive growth.'
A total of 22,27,506 farmers have obtained loan of about Rs 10,736 crore from cooperative banks in the state.
Lower interest rates needed to boost manufacturing, officials say.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
'Whatever happens in any part of the world affects us.'
Budget 2014 is a strong first step to slowly re-architecting and reviving our economy and transform India, says Rajeev Chandrasekhar.
These are valuable suggestions and one hopes the Budget will make a start on that.
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