Page 3 - Fiscal Policy

Union Budget 2024: 10 terms to boost the know-how of key financial exercise

The Union Budget, laid out on February 1 annually, is the financial roadmap that shapes the country's economy. Here are 10 key Budget terms for better insights into the key financial exercise

Govt's prudent fiscal policy to support economic growth: FinMin review

The FinMin report also highlighted that the relatively stable Indian rupee against the US dollar and other prominent currencies, and adequate foreign exchange reserves, add to the optimism

Positive outlook

High public debt remains a risk

States to boost fiscal health in FY24 with high revenue, capex: RBI report

The proportion of states' revenue in gross state domestic prod­uct (GSDP) is projected to reach 8.2 per cent in FY24, the highest sin­ce 2018-19

Populism: The only game in town

As political parties indulge in competitive populism, why do voters accept it?

GST regime altered contours of fiscal federalism in India: Debroy

The Goods and Services Tax regime has altered the contours of fiscal federalism in India, and steady growth of GST revenue is a robust barometer of the reform's success, Economic Advisory Council to the PM (EAC-PM) chairman Bibek Debroy said. In a working paper titled 'How the Pennies Drop: What GST revenue data tells us and What it doesn't', Debroy also proposed constructing a GST Rate Index to help track relative movements of the tax rates and get a sense of how it impacts tax collections and taxpayer behaviour. "The introduction of a Goods and Services Tax (GST) in India in 2017 not only impacted the economy but it also altered the contours of fiscal federalism in India. "Amongst others, the steady growth of GST revenue has been a robust barometer of the success of the reform," he said. Debroy also suggested a novel mechanism for computing the collection rate of GST, using only publicly available data, saying this has potential applications in revenue modelling; analysis of tren

16th Finance Commission's political challenge

There are fundamental issues to harmonious inter-governmental fiscal relations that the Centre must take into account when constituting the Commission

India's election-year challenge

Fiscal consolidation must take precedence in the upcoming Budget, even if it's an interim one

Structural shift

Fiscal conditions in the US will affect capital flows

Pension reform reversal

The fiscal burden of states will increase over time

Fiscal constraints

Govt must generate more tax revenue

Incentivising fiscal prudence for states

Debt is projected to increase by the largest amount in the same states that are currently the most heavily indebted

Should states cough up higher interest rates for their fiscal profligacy?

Debate over how states manage their finances likely to pick up as the constitution of the 16th Finance Commission is round the corner

Missing female scientists and reforming the creaking policy machine

From fiscal policy to fixing India's steel frame, here is a summary of book reviews from the pages of Business Standard this week

Budget 2023 aims at providing a stable direct tax regime

At the domestic front, the government presented its last full budget wherein it had to maintain a balance in fueling growth trajectory, while being on the path of fiscal prudence, say analysts

Economic growth to slide to 7% in 2022-23: Fiscal policy statement

India's public digital infrastructure expansion is leading to accelerated financial inclusion for low-income households, micro and small businesses, and the economy's rapid formalisation

High inflation causing tension between monetary and fiscal policy: Gopinath

On what needs to change, she said for the countries to manage such a difficult trade-off right, fiscal policy has to play a role

TMS Ep338: Demonetisation verdict, free food grain, markets, living wage

What does the SC's demonetisation verdict mean? Will free food grain scheme affect Centre's fiscal planning? Will India Inc see a turnaround in Q3FY23 results? What is a living wage? All answers here

Will free food grain scheme affect Centre's fiscal planning?

The pandemic made the govt to launch Pradhan Mantri Garib Kalyan Anna Yojana to provide free food grains to the poor. It has now been scrapped. What will be its impact?

Pent-up demand, infra spend drove growth amid global headwinds: FinMin

In its latest Monthly Economic Review, the Ministry said global economic developments remain complicated in November, and that fiscal and monetary policymakers need to remain vigilant