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Fiscal Policy

We framed this Budget on a larger plank, not based on any one incident: FM

The India-US trade deal, had it come a little earlier, would not have made the Union Budget any different, Finance Minister Nirmala Sitharaman said

We framed this Budget on a larger plank, not based on any one incident: FM
Updated On : 05 Feb 2026 | 6:02 AM IST

Budget 2026 ready reckoner: Fiscal policy change amid global headwinds

To hold the fiscal deficit at 4.4% of GDP, the Centre trims spending and shifts to a debt-anchored framework for greater policy flexibility amid global risks

Budget 2026 ready reckoner: Fiscal policy change amid global headwinds
Updated On : 02 Feb 2026 | 12:52 AM IST

Budget at a glance: Here're the key numbers from Union Budget 2026

Key figures on revenue, expenditure, fiscal deficit and market borrowings from the Union Budget

Budget at a glance: Here're the key numbers from Union Budget 2026
Updated On : 02 Feb 2026 | 12:09 AM IST

Debt, deficits, growth: Why state discipline matters for fiscal health

While markets focus on the Centre's consolidation, state fiscal discipline and strong growth will be crucial to medium-term fiscal sustainability

Debt, deficits, growth: Why state discipline matters for fiscal health
Updated On : 29 Jan 2026 | 11:49 PM IST

This Budget will see many firsts, but future Budgets need a different mould

Budget 2026-27 breaks new ground, but delayed GDP rebasing and continued fiscal secrecy risk undermining its numbers within weeks

This Budget will see many firsts, but future Budgets need a different mould
Updated On : 28 Jan 2026 | 2:27 PM IST

Centre may set 54.5-55% debt-to-GDP goal for FY27 in Union Budget

While future Budgets will continue to specify annual fiscal deficit numbers, these will now be derived from the debt target rather than serving as the primary target

Centre may set 54.5-55% debt-to-GDP goal for FY27 in Union Budget
Updated On : 28 Dec 2025 | 11:38 PM IST

States pause spending as they await 16th Finance Commission's payouts

Most states have reduced their market borrowings, and raised less-than-projected amounts via state government securities, pushing up yields for short-term papers that the Centre typically uses

States pause spending as they await 16th Finance Commission's payouts
Updated On : 25 Nov 2025 | 7:20 PM IST

Fiscal, monetary measures to boost pvt investment, growth: RBI bulletin

The fiscal, monetary, and regulatory measures undertaken so far this year will pave the way for a virtuous cycle of higher private investment and growth, leading to long-term economic resilience, the RBI bulletin said on Monday. The Indian economy showed signs of a further pick-up in momentum, despite continuing global headwinds, said an article on 'State of the Economy' published in the November bulletin. "Available high-frequency indicators for October suggest a robust expansion in both manufacturing and services activities, supported by festive season demand and the ongoing positive impact of the GST reforms," it said. Inflation has moderated to a historic low and remained well below the target rate, it said, adding that financial conditions remained benign, and the flow of financial resources. "The fiscal, monetary, and regulatory measures undertaken so far this year should pave the way for a virtuous cycle of higher private investment, productivity, and growth, leading to ...

Fiscal, monetary measures to boost pvt investment, growth: RBI bulletin
Updated On : 24 Nov 2025 | 7:56 PM IST

Why the South keeps pulling ahead: Growth, demographics and development

Beyond the increasing complaints about their falling share of central tax revenues, the experience of southern states holds a lesson for the poorer regions wishing to bridge the gap

Why the South keeps pulling ahead: Growth, demographics and development
Updated On : 18 Nov 2025 | 10:30 PM IST

Electoral freebies underpin growing drift in states' fiscal discipline

The deepening fault line of sub-national fiscal drift beneath India's political economy is now hard to ignore

Electoral freebies underpin growing drift in states' fiscal discipline
Updated On : 04 Nov 2025 | 11:45 PM IST

India's Apr-Aug fiscal deficit widens to ₹5.98 tn, 38.1% of FY26 target

Net tax receipts stood at ₹8.1 trillion, down from ₹8.7 trillion in the same period last year, while non-tax revenue rose to ₹4.4 trillion from ₹3.3 trillion a year ago

India's Apr-Aug fiscal deficit widens to ₹5.98 tn, 38.1% of FY26 target
Updated On : 30 Sep 2025 | 5:12 PM IST

America stays unique: Why it's dangerous to learn lessons from the US

The US has a particular, almost unique, history of racial oppression on its own territory

America stays unique: Why it's dangerous to learn lessons from the US
Updated On : 11 Jul 2025 | 11:42 PM IST

Economic matters should transcend political divides: Nirmala Sitharaman

BS Manthan: Union Finance Minister Nirmala Sitharaman described the ongoing global turbulence as a "splashing" of forces, urging India to actively participate rather than remain a bystander

Economic matters should transcend political divides: Nirmala Sitharaman
Updated On : 28 Feb 2025 | 5:31 PM IST

State debt dynamics: Strict fiscal rules needed to reverse disparities

The RBI's frequent intervention to cap spreads in bond markets of heavily indebted states also leads to market indiscipline

State debt dynamics: Strict fiscal rules needed to reverse disparities
Updated On : 17 Feb 2025 | 10:30 PM IST

NITI Aayog's fiscal health index needs clarity and better data use

Despite fact that Constitution assigns states predominant role in provision of social services and co-equal responsibility in economic services, their fiscal performance has not received much focus

NITI Aayog's fiscal health index needs clarity and better data use
Updated On : 13 Feb 2025 | 12:32 AM IST

NCAER paper recommends states to create independent fiscal councils

Several bodies in the past had recommended a fiscal council for the central government

NCAER paper recommends states to create independent fiscal councils
Updated On : 12 Feb 2025 | 7:49 PM IST

Economic Survey 2024-25: Key highlights and challenges the CEA presents

India's economy is expected to grow between 6.3 per cent and 6.8 per cent in FY26. Chief Economic Adviser believes India is on a steady growth path while globalisation is slowing down

Economic Survey 2024-25: Key highlights and challenges the CEA presents
Updated On : 31 Jan 2025 | 3:46 PM IST

Fiscal-monetary coordination at its best in last six years: Shaktikanta Das

Reserve Bank Governor Shaktikanta Das on Tuesday said the fiscal-monetary coordination was at its best during the last six years even as he thanked Prime Minister Narendra Modi for giving the opportunity to head the monetary authority of the country. Das, in a series of posts on X, on his last day of his six-year term as RBI Governor, also thanked the Finance Minister, various stakeholders and his colleagues at the central bank. "Immensely grateful to the Hon'ble PM @narendramodi for giving me this opportunity to serve the country as Governor RBI and for his guidance and encouragement. Benefited a lot from his ideas and thoughts," he said in a post on X from his personal handle. Expressing gratitude to Finance Minister Nirmala Sitharaman for her constant support and backing, he said, fiscal-monetary coordination was at its best and helped to deal with multiple challenges during the last six years. He also thanked all the stakeholders in the financial sector and in the economy; expe

Fiscal-monetary coordination at its best in last six years: Shaktikanta Das
Updated On : 10 Dec 2024 | 11:51 AM IST

India's GDP growth loses momentum: What's behind the urban spending freeze?

India's swelling urban middle class has been the engine of its growth for far longer than government capex has

India's GDP growth loses momentum: What's behind the urban spending freeze?
Updated On : 05 Dec 2024 | 7:40 AM IST

Widening cracks in state finances: Revenue deficits risk fiscal stability

These state-specific fiscal vulnerabilities need appropriate policy considerations to enable sustainable fiscal recovery and innovative ways to augment the revenue space

Widening cracks in state finances: Revenue deficits risk fiscal stability
Updated On : 30 Oct 2024 | 11:56 PM IST