Page 4 - Fiscal Policy

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

RBI policy: Here is why the central bank needs to stop raising rates

RBI, following conventional wisdom, is guilty of wanting to show that it's doing something to bring down inflation while perhaps helping worsen it by slowing down efforts to increase capacity, output

Govt likely to roll back states' ability to borrow more, says report

New Delhi has already stopped compensating states for the switch to the Goods and Services Tax regime from this year

Demand for musical instruments up; Chennai, Kolkata rank as top exporters

India exported $22 million worth of musical instruments and their accessories in the first half of the current fiscal year, as compared to $38.5 million in the previous year

Budget 2023: Exporters urge govt for fiscal incentives, lower customs duty

The meeting took place at a time when external demand is waning as exporters are facing global headwinds of high inflation, currency depreciation and geopolitical tensions

PMGKAY likely to end in December on fiscal, foodgrain constraints

"The food subsidy burden is already crossing Rs 3 trillion and we are hopeful that it will be brought down below that mark," said a senior government official

Bad structure, irresponsible politics behind India's poor fiscal governance

Instead of municipalities and states depending on transfers from the Centre, it should be the other way around

Best of BS Opinion: Increasing responsibilities, the governor's role & more

Here is the best of Business Standard's opinion pieces for today

Increasing responsibilities

Fiscal management will become more difficult

The state of states: Have they really been fiscally profligate?

A couple of states may be guilty of fiscal imprudence. But why tar all of them with the same brush?

On high inflation, here is what RBI needs to tell govt: It is your fault

All the research since 1980 shows that loose fiscal policy causes inflation, and the RBI MPC needs to tell the govt just that

Act now to bring down inflation, safeguard financial stability: IMF Chief

The International Monetary Fund on Thursday urged policy makers across the world to act now to bring down inflation, put in place responsible fiscal policy, safeguard financial stability and carry reforms to address climate change, make digitalisation work for people and address inequality. Speaking to reporters at a press conference here, IMF Managing Director Kristalina Georgieva said, "The IMF is working with our 190 members on these issues. Our economic analysis is front and centre to help countries navigate this complex environment and avoid policy mistakes. Describing it as a difficult global environment, Georgieva said the world economy has been hit by one shock after another the coronavirus pandemic, Russia's invasion of Ukraine and climate disasters on every continent. They continue to harm people's lives and they have caused a cost-of-living crisis, she noted. The immediate toll is clear. On Tuesday, we cut our global growth forecast to 2.7 per cent in 2023. Across many .

13 states can incur capex worth Rs 7.4 trillion in FY23: ICRA report

Spending space available without pressure to their fiscal profile, says agency

56 mn Indians may have turned poor in 2020 due to pandemic: World Bank

"The global goal of ending extreme poverty by 2030 is likely to be missed: by then, about 600 million people will remain in abject poverty. A major course correction is needed," Indermit Gill said.

Mid-course changes in gas pricing to delay investments, says Reliance

Billionaire Mukesh Ambani's Reliance Industries has told a government-appointed panel reviewing gas pricing that any 'retrograde' move to artificially cap rates will add to fiscal policy instability, delays investment and dent India's attempt to become Atmanirbhar in fuel production. In a submission to the committee headed by Kirit Parikh, which has been asked by the Oil Ministry to look at setting a 'fair price to consumers', the firm detailed how the economics of its about-to-start field in the KG-D6 block, where billions of dollars have been spent to recover reserves lying several kilometres below the seabed, will be impacted under different prices. The mid-course changes through price caps not just go against pricing and marketing freedom contracts and government policy promises to companies but also add to uncertainty to a fiscal regime which would impact investments, according to sources briefed on the matter and the presentation. The government biannually fixes gas prices bas