Page 90 - Indian Economy

Union Budget capex not as high as it sounds: Crisil Research

Amid FY23 Union Budget's focus on investments, leading domestic credit rating agency Crisil on Wednesday said that the capital expenditure is "not as high as it sounds". It, however, was quick to add that considering that governments usually tend to cut capex during a crisis, the government has maintained its focus on growth-spurring initiatives amid the pandemic. The research wing of the agency said, if one excludes the Rs 1 lakh crore of loans to states for capex included in the headline figure of Rs 7.50 lakh crore or 2.91 per cent, the actual spend in FY23, will go down to 2.58 per cent of GDP, which is barely at par with the revised estimate of FY22. The report also pointed out that the overall number showing a rise has been 'offset' through a reduction in internal and extra budgetary resources (IEBR), which funds capex of central public sector enterprises (CPSEs). IEBR has been budgeted at 1.82 per cent of GDP for the next fiscal, much lower than the pre-pandemic average ...

Cost of annuity projects: A new risk has emerged in govt's financials

This favoured route for financing roads is gaining traction for other infrastructure projects but could result in unsustainable liabilities for the government

Little fiscal headroom for govt to respond to future shocks: Fitch

Rating agency says it revised Outlook on India's rating to Negative from Stable in June 2020, partly due to its assumptions about pandemic impact on public finance metrics

It's time to formalise the normalisation process: Part 2

MPC's stance should remain accommodative till growth is secured, and future actions should be data-driven. But for now, reverse repo rate should be hiked by at least 20 bps

Keeping eye on global inflation pressure, says FM Nirmala Sitharaman

'Global price of fuel is now a concern for all of us', FM said

Budget: Growth-oriented, protectionist

The Budget aims to boost economic growth and create more employment and entrepreneurial opportunities through substantial increase in capital expenditure for building infrastructure

Sliding statistics standards

Govt must make data more timely, comparable and accessible

Union Budget 2022-23 aimed at making India future-ready: Piyush Goyal

Speaking at a public function to explain the nuances of the Union Budget in Mumbai today, the Minister said "the budget should be seen as an exercise in continuity to make India future-ready".

Best of BS Opinion: The optimistic scenario, New battle for KCR, and more

Here are the top BS Opinion articles of the day

Weak fiscal strength to remain key credit challenge for India: Moody's

Agency says it may be challenging for govt to push through material revenue reform given general elections that need to be held by mid-2024, as well as various state elections before then

Low tax rate has a sunset date, says Revenue Secretary Tarun Bajaj

'I will not be surprised if, in the current year, my tax-to-GDP ratio is the highest-ever for direct and indirect taxes taken together', he said

Costlier oil and subsidy fall likely to hit consumption in FY23

A cut in subsidy in FY23 comes on the back of an equally sharp cut in FY22

Optimistic scenario: Can growth take care of all the economy's problems?

If the government thinks growth is the solution, can it be delivered in a slowing world with rising rates - within the domestic context of slower growth even before the pandemic, asks T N Ninan

Budget 2022-23 'thoughtful' policy agenda for India: IMF MD Georgieva

The Union budget puts a great deal of emphasis on innovation in research and development on human capital investment and digitalisatio, Managing Director of IMF Kristalina Georgieva has said.

Union Budget 2022: How the India's social sector gets short shrift

Government allocations on health and education do not meet its targets and consistently fall short in terms of actual spending

Want to push new exemption-less tax regimes further: Revenue Secretary

'This year we should have got Rs 60,000-80,000 crore as capital gains tax', said Tarun Bajaj

Budget 2022-23: Gross borrowing likely to fall Rs 63.5K crore in FY23

The massive borrowing plan announced by the government in the FY23 Union Budget may get trimmed by Rs 63,500 crore.

From 130 to 70, centrally sponsored schemes down by almost 50%

States have been asking for more flexibility in implementing the schemes while reducing their proliferation

Budget with BS, Ep 13: Business Standard editors read the Budget fine print

Nivedita Mookerji discusses Budget 2022 with Business Standard editors: the politics of the Budget with Aditi Phadnis; infra, capex and technology with Pranjal Sharma; and markets with Puneet Wadhwa >

A quick report card of govt's infra asset monetisation initiative

While govt has earned about 16% road and power transmission assets against an expected run rate of Rs 88,190 cr in FY22, progress in most other areas has been slow