Cess The Comptroller and Auditor General (CAG) of India, in its latest audit report of government accounts, has observed that the Union government withheld in the Consolidated Fund of India (CFI) more than ₹1.1 lakh crore out of the almost ₹2.75 lakh crore collected through various cesses in 2018-19. Why is it objectionable? The CAG …
Fiscal Deficit Fiscal Deficit is the difference between the total income of the government (total taxes and non-debt capital receipts) and its total expenditure. It is a situation occurs when the government’s expenditure exceeds its income. This difference is calculated both in absolute terms and also as a percentage of the Gross Domestic Product (GDP) …
FRBM Act With the States at the forefront in battling the COVID pandemic, it is clear that they should be equipped with more resources than are available at their disposal. It is, therefore, odd that the Chairman of the 15th Finance Commission should be reading out the FRBM (Fiscal Responsibility and Budget Management Act) provisions …
From a peak of 8.1% in the fourth quarter of 2017-18, growth in gross domestic product (GDP) has now decelerated to a six-year low of 5% in the fiscal first quarter, with a slowdown visible across all sectors. We now require a macroeconomic strategy to revive aggregate demand in the short-run, while initiating structural reforms …
19th October – An inclusive strategy for India to revive its economic growth Read More »
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