Government must now step up expenditure to boost demand for private investment and consumption, said RBI
Nobel Laureate says it is 'not clear at all' if bond markets would react negatively to moves to avert crisis.
What began with food security, off-Budget financing now caters heavily to a range of core spending areas
This is despite a reasonable pick-up in tax revenues during the month as economic activity gradually reverts to normalcy amid the pandemic
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Curbs imposed by the finance ministry on more than 80 government departments and ministries earlier in the year to preserve cash were relaxed this quarter
States and centre would be spending more on projects like roads, urban development, defence as a result of Finance Minister's announcements.
FM also said that probably for the first time the government has sought such a huge amount in the first batch of the supplementary demands for grants
Free provision of food, cash transfers, and jobs in villages see enhanced flow of funds despite a precipitous fall in revenue
India's economic growth falls for a third successive year, fiscal deficit widens to 4.6%; agriculture and govt spending prevent further decline
The state government has set up a committee headed by Sunil Mani, director of the Centre For Development Studies, to assess the fiscal situation, and has sought a report in a month's time
The funding need can change materially
Asia's third largest economy, which is growing at its slowest pace in over six years because of lack of private investment, could be hurt further if the government cuts spending
On September 30, 53.4 per cent of BE 2019-20 was spent by various ministries/departments
The total receipt comprises Rs 2,51,411 crore tax revenue (Net to Centre), Rs 33,475 crore of non-tax revenue and Rs 4,764 crore of non-debt capital receipts
The government is also seeking over Rs 4,700 crore for the Ministry of Home Affairs