Finance Minister has announced in the Budget that it plans to raise a portion of its gross borrowing from overseas markets using sovereign bonds. A government bond or sovereign bond is a form of debt that the government undertakes wherein it issues bonds with the promise to pay periodic interest payments and also repay the… Continue reading Why is India opting for overseas bonds?
Finance Minister and RBI Governor has met for the customary post-budget meeting. The RBI Governor has said that the system has sufficient liquidity and the Union Budget has made provisions to ease the NBFC crisis. In the Budget,the Government has announced a one-time six-month partial credit guarantee window to cover up 10% of losses that… Continue reading Financial system has surplus liquidity
Finance Minister is scheduled to address the post-budget meeting of the RBI’s central board.She will highlight the key points of the Budget including the fiscal consolidation roadmap. The government has lowered the fiscal deficit target for 2019-20 at 3.3% of GDP from 3.4% set in the Interim Budget presented on February 1, 2019. Fiscal deficit… Continue reading Union Finance Minister Nirmala Sitharaman to address RBI board tomorrow
Union Budget has allocated Rs 3.18 lakh crore for defence.The allocation is estimated to be at around 1.6% of the GDP which experts have said is the lowest since the 1962 war with China. The defence officials has said that the capital expenditure allocated for the Navy and the Indian Air Force(IAF) does not meet… Continue reading Budget 2019: Defence allocation disappoints military
Finance Minister has held pre-budget discussions with the industry heads.The industry has suggested various reforms and tax cuts to push investment and growth of the economy. The various reforms suggested are (a)reduction in direct tax rate to a maximum of 18% (b)reducing the dividend distribution tax and (c)reform of land and labour laws. Industry heads… Continue reading Pre-budget consultations: Industry for tax cuts, more reforms to push investment
The shortfall in Defence allocation in the interim Budget 2019-20, especially in its capital allocation, has left the Services worried as it threatens to delay the capability enrichment and modernisation under way. The shortfall is so significant that, for the Navy and the Air Force, the capital allocation does not even meet the committed liabilities… Continue reading Budget shortfall worries Defence Services
The Centre’s flagship rural job guarantee scheme (MGNREGA) got its highest ever allocation of Rs 60,000 crore in the interim Budget 2019-20 but less than the sum of budgetary and supplementary allocation of funds for last year. Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is the largest social security scheme in the world that… Continue reading What is the lowdown on MGNREGA funding?
The Government have budgeted the fiscal deficit for 2019-20 at 3.4% of the Gross Domestic Product which is slightly higher than the target of 3.3% of GDP that the government had set itself last year. Fiscal deficit is the amount of money that the government needs to borrow in a given year because their expenses… Continue reading Interim Budget 2019: Centre’s fiscal deficit target goes for a toss