Finance Commission

TMS Ep406: RBI rate pause, food labelling, markets, Finance Commission

How will the economy fare as RBI pauses rate hikes? Why has food labelling become controversial? RBI policy done, what next for the markets? What is the Finance Commission? Answers here

Govt to set up 16th Finance Comm in 2023 for Centre-state tax devolution

The government is likely to set up the 16th finance commission this year to suggest, among other things, the ratio in which tax is to be divided between the Centre and states for five years, beginning April 1, 2026, an official said. The members of the commission and its Terms of Reference (ToR) are being worked out, the official added. Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations. The previous Finance Commission submitted its report on November 9, 2020, for the 5 fiscals -- 2021-22 to 2025-26 -- to the President. The 15th Commission under NK Singh had kept the tax devolution ratio at 42 per cent -- at the same level suggested by the 14th Commission. The central government accepted the report of the commission, and accordingly, the states are being given 42 per cent of the divisible tax pool of the Centre during the period 2021-22 to 2025-26. The 15th finance commission's recommendations include the fiscal deficit, debt pa

Poonawalla Fincorp registers highest disbursement of Rs 6,370 cr in Q4 FY23

Adar Poonawalla-controlled non-banking finance company Poonawalla Fincorp on Wednesday said its total disbursement grew 151 per cent year-on-year to record Rs 6,370 crore in the March 2023 quarter. Its assets under management (AUM) increased by 37 per cent year-on-year and 16 per cent quarter-on-quarter to about Rs 16,120 crore at March-end 2023, despite a sharp reduction in the discontinued loan book, the company said in a regulatory filing. Discontinued onbook reduced to approximately Rs 625 crore at March-end 2023. "Total disbursements during Q4 FY23 were highest ever at approximately Rs 6,370 crore, up 151 per cent Y-o-Y and 89 per cent Q-o-Q compared to disbursements of Rs 2,539 crore in Q4FY22 and Rs 3,369 crore in Q3FY23," it said. Gross NPA and net NPA are expected to improve further to less than 1.55 per cent and 0.85 per cent, respectively, at the end of the last fiscal. The company said it would strive to maintain the NNPA below 1 per cent in line with its Management Vi

Finance Ministry to constitute 16th Finance Commission this year

The Finance Ministry in its FY24 Budget has allocated a token Rs 10 crore for establishing attached offices for the 16th Finance Commission

BS BFSI Insight Summit 2022: Fireside chat with RBI Guv Shaktikanta Das

Das as the RBI Governor is widely credited with having spearheaded RBI's proactive approach in handling the economic impact of the Covid-19 pandemic with 'whatever it takes' approach

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?

Fiscal correction: Focus should be on reducing the fiscal deficit

The govt would do well to be cautious and resist the temptation of increasing expenditure in the run-up to the Lok Sabha elections because the economy is likely to slow in the second half of the year

Supreme Court rejects plea by Hero MotoCorp for full budgetary support

But suggests GST Council, states consider mechanism for reimbursing eligible units

'Parliamentary illiteracy' on fiscal issues needs to be overcome: N K Singh

Former finance commission chairman calls for having a fiscal council to debate policy issues

What's rendering state Finance Commissions so ineffective and toothless?

While the 13th Finance Commission gave a template for preparing the reports of SFCs, it was not acted upon because these are not mandatory recommendations

Obituary: Abhijit Sen - A great economist with rural, agriculture focus

He was an excellent analytical economist and his is a great loss to the profession of economics vis-a-vis research and policy, writes S Mahendra Dev

As freebies debate rages, a look at states' contingent liabilities

The net borrowing ceiling of states is mandated by the FRBM Act. However, the upper limit of what their contingent liabilities can be is set by states' own legislative bodies

What's a freebie? Experts dissect basic definition amid SC hearings

'Strain on exchequer arising from sops to industry, bad loan waivers, etc., must be discussed'

Your oral remarks in the 'freebie' case damaged our reputation: EC tells SC

Responding to a PIL filed by lawyer Ashwini Kumar Upadhyay in the Supreme Court, EC said that they support setting up an expert panel to discuss freebies, but it can not be a part of it

SC wants political parties to suggest how to regulate 'freebie culture'

Govt says freebies inevitably lead to economic disaster

Supreme Court observation on freebies is judicial overreach, say experts

The SC had sought a reply from the Centre till the next hearing on August 3

Rational freebies

Only legislatures can decide the parameters of welfare spending

Of 1,800 fast track courts recommended by 14th FC, 914 functional: Govt

The 14th Finance Commission had recommended setting up of 1,800 fast track courts (FTCs) during 2015-2020, but 914 are functional in various states as of now, Lok Sabha was informed on Friday.

India needs constellation of actions to deal with climate change: N K Singh

Singh said the climate change issue goes far beyond the confines of the Constitution as it has multiple dimensions

BS-Seema Nazareth Award: NK Singh calls for Parliament, GST, health reforms

Finance Commission Chairman shares his vision to make the economy deliver over next 30 years