The Centre's revenue deficit is expected to go up by 0.75 per cent of the GDP this fiscal following the implementation of the 12th Finance Commission recommendations, RBI said.
He will be the first bureaucrat to head the central bank in almost five years.
Ahead of the general elections, a slew of states and also the Centre had doled out sops to the marginalised sections, including the farmers and the poor.
C Rangarajan, chairman, 12th Finance Commission, will head the committee, J&K Finance Minister Muzaffar Hussain Baig said in Srinagar.
Call for fiscal autonomy to Union Territories with Assemblies may get louder with 'special status' to J&K in the Finance Commission, say experts.
The 12th Finance Commission on Monday held a meeting with leading economists and economic administrators in Chennai to elicit their views on current issues concerning inter-governmental resource transfers.\n\n\n\n
Responding to Shagh, National Conference leader Omar Abdullah said the country was suffering from too much "ODOMOS- overdose of only Modi only Shah".
The 12th Finance Commission report on sharing of funds between Centre and states, scheduled for submission by July end, is likely to be delayed due to the elections, C Rangarajan, chairman of the commission, said on Friday.
Former Finance Commission chairman A M Khusro, who died in New Delhi on Sunday, was a distinguished academic, scholar and a towering personality. Besides heading the 11th Finance Commission, he was the chairman of IEG.
'Agri reforms need to go beyond the limited concerns of these three laws in improving agriculture productivity in cereal and crop diversification and production patterns.'
"Grassroots democracy must get precedence than any other considerations, including security," the functionary said.
The reform priorities are clear: enhance savings, improve productivity. Just 25 basis points of moving interest rate up or down would not boost investment: Former RBI Governor Y V Reddy.
GSTN said those who do not want to give their Aadhaar numbers would have to undergo physical verification.
'What matters is meeting the needs and expectations of the people who have voted to provide governance for the country.'
The Y V Reddy-headed commission said the states should use extra fiscal space for productive assets
Assam Chief Minister Tarun Gogoi on Monday took on Narendra Modi today saying that the Bharatiya Janata Party's prime ministerial candidate was 'irresponsible' and had made 'wrong statements' at his rally two days ago.
Finance Minister Arun Jaitley to discuss key issues with state finance ministers.
On the sidelines of the NITI Aayog governing council meeting, CMs of West Bengal, Andhra Pradesh, Karnataka and Kerala met PM Modi.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
Experts say the party is undoing what it achieved through MNREGA by targeting beneficiaries
The comments from Das assume importance as the government for two consecutive terms have missed its fiscal deficit targets by 10 bps
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
The special package assistance would be used to augment irrigation structures in drought-prone areas to address the agrarian distress and drinking water crisis.
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
'After the creation of Telangana, Andhra Pradesh has been left as an agrarian state.' 'Therefore, the special category status to this residual state was imminent and necessary for its development,' YSR Congress MP V Vijayasai Reddy explained in the Rajya Sabha.
'This country today is demonstrating to the world the true meaning of federalism, the true meaning of working in partnership between the central government and the state governments.'
'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?'
Advising judiciary to avoid "perception-driven" verdicts, Prime Minister Narendra Modi on Sunday said it should have an internal mechanism of "self-assessment" as judges are considered "divine" and seldom face any criticism unlike the political class.
Among the states due for election next year are AP, Haryana and Odisha, which have a fair share of agri credit. If these states individually announced debt relief, the combined waiver would be at least around Rs 600 bn to Rs 700 bn. Clearly, this will be a frightening challenge for Indian banks.
'Modi is still immensely popular and, therefore, he can sustain any number of policy failures.' 'Modi himself has worn multiple faces so it would be naive to think that the Modi of 2021 will be the same Modi that will be campaigning for re-election in 2024.'
From defending the shock announcement of demonetisation to spearheading the remonetisation drive that included the cumbersome process of printing and supplying new Rs 500 and Rs 2,000 notes, his calm composure brought a sense of serenity to an otherwise chaotic situation.
The finance minister defended the change in the tax rates.
'The debate, by being mostly in Hindi, lost much of its educative relevance to the southern states.' 'All the prime minister's debating skills and oratorical prowess went over the heads of the South Indian audience,' points out B S Raghavan, the distinguished civil servant.
'The CEA suggested that could be as high as 19 per cent.'
The Niti Aayog is preparing 15-year vision document that will replace the Five-Year Plan from the next financial year
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
Assam chief minister Tarun Gogoi has stated that backward state of Assam and the Northeast region as a while need more fund from the Centre instead of frequent visits of Union ministers, a new and unprecedented trend since Independence.
'Even before the outbreak of the flu, it had become clear that the tax revenue numbers for 2019-2020 were overestimated,' observes A K Bhattacharya.
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