The Centre has to bear the maximum burden of borrowing NSSF loans to the tune of Rs 1 lakh crore.
Demonetisation is the biggest reason for the rise in preference for small savings.
A BJP government in Bengal inherits more problems than it might care to admit at its moment of triumph, points out Ramesh Menon
Sitharaman does away with loans from National Small Savings Fund to Food Corporation of India.
This is the highest in the past five years and almost 24 per cent more than last year.
Finance Minister Nirmala Sitharaman has brought down the budgetary allocation for the fertiliser subsidy for FY21 to Rs 71,309 crore, from the RE of Rs 79,998 crore for FY20, while increasing food subsidy to FCI through "ways and means advance" to Rs 50,000 crore for FY21, from Rs 36,000 crore in RE for FY20, and under the National Food Security Act (NFSA) to Rs 77,982 crore, from Rs 75,000 crore.
India is expected to harvest 291.95 mt of foodgrain in 2019-20
To make possible discretionary spending including capex and that on welfare, the government decided to borrow more than planned in FY21 -- Rs 12.7 trillion.
Government to pay disproportionately high interest for borrowings from savings, overturning a nearly two-decade-long process of reforms in the management of public debt.
Fitch Ratings on Thursday said the resurgence of COVID-19 infections may delay India's economic recovery, but won't derail it, as it kept the sovereign rating unchanged at 'BBB-' with a negative outlook. It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. Fitch had in June last year revised outlook for India to 'negative' from 'stable' on grounds that the coronavirus pandemic had significantly weakened the country's growth outlook and exposed the challenges associated with a high public debt burden.
Sitharaman's Budget missed deficit target for the third year in a row, pushing shortfall to 3.8 per cent of GDP in the current fiscal as compared to 3.3 per cent previously planned.
The ripples from November 8 may be seen in next year's state budgets.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
IDS-2 and raids to uncover black money stash keep receipts flowing
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.
Ved Prakash who has been working in the field of recyclable raw materials for 29 years aims to 'create value' every day.
'This confrontation could have been avoided by a less arrogant administration that initially listened, used whatever negotiating skills they had and tried to be more credible,' observes Ramesh Menon.
Ankit Kawatra's Feeding India has already fed more than 1 million people.
Governor Rajan can be more unambiguously pro-growth.
Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.8%-1%.
'India today has to fight many a battle, all of which cry out for innovation. This is where the experience of the Diaspora could be the most productive well-spring.'
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
The deduction will be higher and net take-home pay will fall.
Dilip Shanghvi founded Sun Pharma in 1983.
Eminent business journalist and author Tamal Bandyopadhyay discussed Budget with rediff.com readers on Tuesday.
For the current woes of the state to end, in city after city, town after town, village after village, unauthorised constructions have to be removed, no questions asked, says N Sathiya Moorthy.
We present our alphabet of 2020, pulling in everything you'll remember about this year we'd rather forget.
A friendly working environment, special healthcare facilities, flexible work hours, work from home options, support and camaraderie among the team members keep employees highly motivated in these 10 companies.
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
Finance Minister Arun Jaitley said the inflation index would determine the nominal growth figure, and it is better to set modest targets and outperform them.
At 24, an age when most people struggle to make a mark in their first jobs, Krishanu Kona rode solo for 224 days non-stop, covering 25 states.
I-T lens on current account deposits over Rs 12.5 lakh. All the news and more post demonetisation.
'Kejriwal has taken a leaf out of Modi's campaign of 2014 and improved upon it.' 'That suit will haunt Modi till he exits politics.' 'Of all the factors that favoured Kejriwal, the biggest was the arrogance and over-confidence of the Modi-Shah led BJP.' 'What the Congress could not do in the last two decades in Gujarat, Kejriwal did it in no time in Delhi.' 'The BJP has behaved exactly like the Congress in decoding Kejriwal's politics.'
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