India's state-level fiscal rules have improved headline deficits, but the gains are fragile and uneven with major states still grappling with high debt levels, a World Bank report submitted to the 16th Finance Commission (FC) said. According to the report, despite nearly two decades of adoption of fiscal responsibility laws (FRLs), debt levels have not converged.
Under the amended legislation, the basic pay of chief minister has been enhanced from Rs 5,250 to Rs 16,000 a month and that of ministers (including deputy chief minister) from Rs 5,000 to Rs 14,000.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
Experts say the state's economy is grappling with hidden debt, rising welfare costs, and lack of transparency.
With its age-old fascination for education, southern states have done better than the North. Start-ups, IT hubs, and industry majors setting up shop have changed the face of the South. Nearly 79% of global offices set up by international conglomerates in India are in the South. Almost 46% of tech unicorns are from the South. The GDP per person in the South is 4.2 times higher than the North. None of these indicators can be ignored by any central government, whatever the political compulsions, notes Ramesh Menon.
Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
'We will not compromise on it. We will not make any deferred payments or cuts.'
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
The Bharatiya Janata Party supported the Telangana bill in Rajya Sabha onThursday but sought amendments to ensure the Seemandhra region got justice and a "defective" legislation was not passed.
Employers will also have the option to pay wages in cash.
Realising serious lapses in the process of hearing, a division bench of Andhra Pradesh high court has recalled its order against payment of compensation to Muslim youth of Hyderabad who were illegally detained, tortured and booked by the city police in the aftermath of blast in Mecca Masjid more than six years ago.
Is there more than meets the eye to Kitex Garments, the world's second-largest children's garment producer, abandoning Kerala for Telangana?
A senior official in the central labour commissioner's office said the efforts of the government were to resolve the cases amicably and not to press for legal action against employers. "Everyone is going through tough times. We could initiate legal action if we want but that's not the idea. We want to address the issues amicably," the official said.
In the last of a six-part series Sanjay Jog discovers that if the government and beedi employers don't act now, there could be social unrest soon.
Tamil Nadu's latest budget offers path-breaking initiatives and major boost for social infrastructure, which other state governments are sure to follow in the coming years, predicts N Sathiya Moorthy.
The Board of Control for Cricket in India released pending payments to various stakeholders which include Test match centres, state bodies, match fee of India players besides salary of coaches and commentators.
The kidnapping of 40 Indian workers from Mosul town of strife-torn Iraq should be a lesson to those who rely on fraudulent agents to find them jobs in the Gulf countries, says Vicky Nanjappa
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
Migrant workers are leaving Gujarat, PM Modi's home state, as they have no work.
On February 11, 2009, Subhiksha announced that it was closing down all its 1,600 outlets till May 2009.
India has been put in lockdown to halt the spread of the coronavirus outbreak. People have been told to stay indoors, but for many daily-wage earners this is not an option.
Insisting that PM Modi has consistently cared for the farmers, Goyal said the Rs 75,000 earmarked for paying Rs 6,000 per annum to each of 12 crore farmers is not one time but a 'sustainable' provision.
While its performance in Bihar, has boosted fund collections, corporate contributors are still waiting to see its performances in Assam, Kerala, Tamil Nadu and West Bengal before committing funds to the Congress.
The ripples from November 8 may be seen in next year's state budgets.
'The RBI is not releasing Rs 2,000 notes for the last 10 days; probably they have stopped printing it.'
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