It shows that states would require a compensation to the tune of at least Rs 1.67 trillion in 2024-25, as none of them would be able to achieve a 14 per cent growth every year.
'But can it afford to present a scenario within the existing legal framework of fiscal consolidation?', asks A K Bhattacharya.
Rumours in the bureaucracy on his successor include the names of Sajjid Chinoy of JP Morgan, Rathin Roy of the National Institute of Public Finance and Policy, Neelkanth Mishra of Credit Suisse and the principal economic advisor, Sanjeev Sanyal.
The fall in investment rate is not surprising. But putting it together with rising share of wages in GVA, it shows that the focus is more on productivity, rather than adding new capacity, says Pronab Sen, former chief statistician of India.
'Look at the number of billionaires, the number of new billionaires in India.' 'Adani and Ambani are not the only ones.' 'What's wrong with people making money as long as it benefits us?'
'Today, political formations seem to adopt an 'us' versus 'them' approach which shows up even in their attitude towards civil servants.'
'This creates an added layer of fear.'
If the protected growth in GST revenue is reduced to 10 per cent, the Centre would save more than Rs 25,000 crore in 2020-21 if none of the states show any revenue growth. This would nearly amount to 0.1 per cent of the gross fiscal deficit and help the government in avoiding fiscal slippage to some extent in subsequent years.
We import from China not because we love China, but because they sell us these things at cheap prices, points out Rathin Roy.
'In a serious fiscal situation like this, an ostrich-like focus on annual budgeting, event management and defensive rhetoric will only make matters worse,' warns Rathin Roy.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
Amit Mitra may have stopped talking about relaxing rules for foreign investment in India, but there is no dilution of his commitment to the cause of fiscal consolidation in West Bengal.
Government hits back, tells rating agency to introspect on processes.
Slight recovery in growth is expected only in July-September.
The study was ordered in March 2011 when the nation was debating on the amount of unaccounted income with figures projected by politicians and civil society in crores of rupees.
energy is India's binding supply-side constraint for inclusive growth.
Amaresh Bagchi, the noted economist who formulated the idea of VAT, passed away. He was 77.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
'We get an overzealous army of tax inspectors pushing the economy too hard,' says Ajay Shah.
Three institutes entrusted with the task to estimate amount say data collection a hurd#8804 to submit report by December.
Writing in the United Kingdom's 'Financial Times' newspaper on Tuesday, the minister sought to counter criticism over Prime Minister Narendra Modi-led government's announcement over the "anachronistic provision" last month, which he said had resulted in socio-economic injustice due to the inability to apply national laws in Jammu and Kashmir.
GSTN said those who do not want to give their Aadhaar numbers would have to undergo physical verification.
The state is now under pressure to revise the salaries of its 800,000 employees, which would add to the strain of an already debt-laden state exchequer.
'The coronavirus epidemic highlights the need to start thinking more actively about multilateral coordination, including, but not confined to, health emergencies and climate uncertainties,' says Rathin Roy.
Moody's said the government will face challenges in achieving its deficit target for the fiscal year ending March 2021, amid persistent structural and cyclical headwinds to growth.
India's economic development has been marred by corruption, says The Heritage Foundation.
Plans disinvestment in IOC and Coal India.
As part of efforts to tackle the menace of black money, the government has commissioned studies to estimate the amount of unaccounted income and wealth.
It is time to reform the RBI and the ministry of finance, says Dr Ajay Shah of the National Institute of Public Finance and Policy, New Delhi.
At least three members of the BJP Parliamentary Board, that approved candidates list, told me that release of my book by Nitish Kumar in 2017 was strongly resented and probably this cost me the party nomination, Roy said.
How do we get back to higher trend growth? The heart of the problem lies in private corporate investment, recommends Ajay Shah.
Fitch has warned India's "weak public finances" will constrain higher growth in medium term.\n
International Monetary Fund has said more remains to be done to put the US public finances back on sustainable path.
Declining GDP growth, persistently high consumer inflation, poor public finances and worsening macro-economic indicators. In such a scenario, should Indian companies chase growth or consolidate their market position?
The studies found that sectors with the highest unaccounted income included real estate, mining, pharmaceuticals, pan masala, gutkka and tobacco, bullion and commodity markets, film industry, educational institutes and professionals.
Four years after Beijing hosted a spectacular summer Olympics, China's bustling capital sees vastly improved public transport and infrastructure, but many of the venues built for the event languish unloved, underused and draining public finances.
Those losses, or 'under-recoveries', are of course eventually covered partly by the central government, and are the most potent contributor to India's problems with its fiscal deficit.
Three entities entrusted with job submit reports on black money estimation.
The cheer of the New Year was darkened by news that India's public finances continue to be in dire straits.
The statement, issued after the 2-day meeting of the 6-member Monetary Policy Committee of the Reserve Bank of India, also said that recapitalisation of public sector banks along with resolution of stressed assets under the Insolvency and Bankruptcy Code (IBC) will create demand for fresh investments.
'We have to stop thinking about GDP and look at the impact on output and unemployment.' 'And that is not going to be insignificant.'
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