Page 2 - Expenditure

WB's revenue expenditure outpaces capital spending in H1 FY25: Report

West Bengal's fiscal performance in the first half of the 2024-25 fiscal reflects a growing imbalance between revenue and capital expenditure, aligning with broader trends observed across major Indian states, according to rating agency CareEdge. While the state recorded a 13.5-per cent year-on-year increase in revenue expenditure, its capital expenditure grew by only 7.7 per cent, significantly falling short of its budgeted targets, the agency's latest report on state and central finances said. Amit Mitra, principal chief advisor to Chief Minister Mamata Banerjee and the state's finance department, had recently said Bengal's capital spending had increased from Rs 2,226 crore in 2010-11 to a budgeted amount of Rs 35,865.55 crore in 2024-25. "Revenue expenditure of states remained strong in H1 FY25. In aggregate, the top 20 states in our sample utilised 41.5 per cent of their budgeted revenue expenditure in H1 FY25, slightly higher than the 40 per cent utilisation in H1 FY24," the ...

Ministry conference discusses frequent household expenditure surveys

It will help in CPI base revision and updating other macroeconomic indicators, say economists

Brazil to freeze $2.7 bn from budget as govt tries to meet fiscal target

The decision to hold back on spending comes amid market worries about the government's ability to meet its goal of eliminating the primary deficit.

US inflation cools in May; consumer spending rises marginally by 0.2%

In the 12 months through May, the personal consumption expenditures price index increased 2.6 per cent after advancing 2.7 per cent in April

IDBI Bank to increase tech spend to 8-9% of operating expenditure

IDBI Bank has 'immediate plans to invest in digital solutions, analytics, AI', says CEO

2024 LS polls, costliest ever, expenditure may touch Rs 1.35 trn: Report

The 2024 Lok Sabha elections are on track to break past records and become the most expensive electoral event in the world, according to a poll expert. The estimated expenditure is expected to reach a staggering Rs 1.35 lakh crore, more than double the Rs 60,000 crore spent in 2019, claimed N Bhaskara Rao, who chairs the Centre for Media Studies (CMS), a not-for-profit organisation, and has been tracking election spending for 35 years. Rao stated that this comprehensive expenditure encompasses all spending, direct or indirect, related to polls, including that by political parties and organisations, candidates, the government, and the Election Commission. With the BJP vying for a third consecutive term under Prime Minister Narendra Modi's leadership, industry observers have noted the party's dominant presence in campaigns, irrespective of the mediums used for publicity. In an interview with PTI, Rao said he revised the initial expenditure estimate from Rs 1.2 lakh crore to Rs 1.35 l

Indians spending more on packaged food, eating out as home cooking declines

Spending on processed food by the urban elite consumer more than doubled in FY23; it surged more than threefold for middle-income consumers

At Rs 11 trillion, fiscal deficit narrows to 64% of revised estimates

Both revenue and capital expenditure for the April-January FY2024 period was around 75 per cent

Rural Indians are now spending more on processed food, drinks than cereals

For urban India, the spending on processed food has been more than that on cereals since 2011-12 but the gap has widened in the last 10 years

It's not priority of govt to monitor consumption: Finance secretary

He says why the Budget numbers are realistic and speaks of the evolving approach of the government towards disinvestment, welfare schemes, and capital expenditure

Whittling down the cost of soldiers

The army needs a holistic approach to raising more cost-effective personnel and units

Mizoram govt incurs Rs 4.88 cr wasteful expenditure due to negligence: CAG

The Comptroller and Auditor General (CAG) of India has slammed the Mizoram government for incurring an "avoidable" expenditure of Rs 4.88 crore on formation cutting of Darlak-Sihthiang road in Mamit district due to "negligence". The CAG report tabled in the assembly by Chief Minister Zoramthanga in the recently concluded session said that the construction of the Darlak-Sihthiang road was undertaken under the Pradhan Mantri Gram Sadak Yojana (PMGSY) despite the village being already connected. It said that Sihthiang was connected by 11-km long Chuhvel-Sihthiang paved road, which is an all-weather road since December 2020. While the construction of the Chuhvel-Sihthiang paved road was being taken up in May 2016, an agreement was signed in August 2019 between Mizoram Rural Road Development Agency of the state Public Works department and contractors for the construction of Darlak-Sihthiang road at a cost of Rs 52.81 crore and the project was scheduled to be completed by June 2020. "The

People stepping up expenditure on premium items to offload Rs 2,000 notes

The Indian central bank announced on Friday the country's largest denomination note will be withdrawn from circulation by the end of September

States' capital budgets: Spending, classification can be variable exercise

Most of the other major states, including Gujarat, Uttar Pradesh, Karnataka, Kerala, Rajasthan, Telangana and Haryana, hew close to either extreme

Government focusing on public expenditure to propel growth, says FM

Finance minister Nirmala Sitharaman on Wednesday said that the effort of the government over the years has been to increase public expenditure with a view to promote growth. Speaking at the Post-Budget interactive session with the members of the industry chamber PHDCCI, the minister said that the government in the 2023-24 budget increased the capital expenditure by 33 per cent to Rs 10 lakh crore. "Consistently for the last three-four years, the emphasis has been given on public capital expenditure. We have kept that up in this budget...capital expenditure, clearly can be said as a real focus of this budget," she said. On a question of including petroleum products under the Goods and Services Tax (GST) regime, the minister said it could be done if there is an agreement among the states. She further said that the states were being nudged to carry forward reforms in various sectors including power and also implement the 'one nation, one ration card' scheme.

Fifa World Cup fans on pace to spend record amounts at tournament venues

With 10 days to go until the end of the Fifa World Cup, fans have already spent more money than they did when Brazil hosted in 2014, and 89% of the value they spent at Russia in 2018

Private consumption edges up in Q2; infra investment almost flat

PFCE, a proxy for household and private sector consumption, was 61.6% of nominal GDP in Q2FY23, as against 61.1% in the previous quarter and 59.5 per cent a year ago

FM Sitharaman likely to begin pre-Budget talks from third week of November

FM Nirmala Sitharaman and senior officials will hold eight meetings in all with all stakeholders

Centre's fiscal deficit in H1 touches 37.3% of full-year target

The Centre is hopeful of keeping the fiscal deficit at 6.4 per cent of nominal GDP in FY23

Next big thing is to take solar to everyone's life: ISA Director-General

In a Q&A, Dr Ajay Mathur talks about the Alliance's current agenda, and financing and capacity building plans across green sectors