Kumaraswamy slams CM on expenditure

Kumaraswamy slams CM on expenditure

Former Chief Minister H.D. Kumaraswamy on November 12 alleged that ₹1.90 crore was spent to refurbish furniture at the Chief Minister’s residence, Cauvery, while ₹ 3 crore was spent on the auditorium. “The Chief Minister has made extravagant expenditure in the time of drought. Is he a socialist,” Mr. Kumaraswamy asked. The Chief Minister is … Read more

Populist expenditure may not hit govt’s fiscal deficit targets: Goldman Sach

Populist expenditure may not hit govt’s fiscal deficit targets: Goldman Sach

Mumbai: Populism during elections invariably dents government finances, but this time around it may not be the same, thanks to strong federal revenues and a liberal dividend payment by the Reserve Bank of India (RBI), Goldman Sachs said. There could be some expenditure cuts as well. It is likely that a cut in public capital … Read more

Kejriwal’s residence expenditure row | BJP draws parallel with ‘palaces’ of Saddam, Kim Jong Un

Kejriwal’s residence expenditure row | BJP draws parallel with ‘palaces’ of Saddam, Kim Jong Un

The BJP fired a fresh salvo at Delhi CM Arvind Kejriwal amid the row over the ₹45 crore expenditure comparing him with the likes of Iraqi dictator Saddam Hussein and North Korean leader Kim Jong Un in terms of “luxury”. | file photo | Photo Credit: ANI The BJP on Friday fired a fresh salvo … Read more

Indian equity indices may see close to zero returns through 2022 in base case: Sanjay Mookim

Indian equity indices may see close to zero returns through 2022 in base case: Sanjay Mookim

Multi-year high oil prices could hurt India’s private consumption, government expenditure and corporate margins, said Sanjay Mookim, India strategist and head of equity research at JP Morgan India. In an interview, Mookim said his base case is for close to zero returns from headline Indian equity indices through 2022, with the growth in earnings likely … Read more

Keep expenses in check, finance ministry tells ministries

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The finance ministry has asked all ministries and departments to cut controllable expenditure by a fifth and suggested as many as 18 areas where reductions can be made, such as advertisement and publicity, office expenses and overtime allowance. The government faces higher expenditure on the centralised procurement of Covid-19 vaccines and the free food ration … Read more

Revenue Deficit Grant of Rs 9,871 cr released to 17 states: Finance Ministry

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The Department of Expenditure, Ministry of Finance on Thursday released the second monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 9,871 crore for the year 2021-22 to 17 States. “With the release of second installment, a total amount of Rs 19,742 crore has been released in the first two months of the … Read more

Government seeks Parliament nod for additional gross expenditure of Rs 6.28 lakh crore

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NEW DELHI: The government on Thursday sought Parliament‘s approval for gross additional expenditure of Rs 6.28 lakh crore for 2020-21 as part of the second and final batch of supplementary demands for grants. The proposals involve net cash outgo of Rs 4.13 lakh crore while the remaining amount will be matched by savings of ministries … Read more

Confident of reducing fiscal deficit to 4.5% of GDP by FY26: Exp Secy

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The government is confident of lowering the fiscal deficit to 4.5 per cent of GDP by 2025-26 fiscal, considering a nominal GDP growth of 10 per cent every year, Expenditure Secretary T V Somanathan has said. India has exceeded its fiscal deficit target of 3.5 per cent in the current fiscal by a wide margin … Read more

Revised inflation index to impact DA, put more money in hands of govt employees: Official

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Expenditure on food consumption by industrial workers has fallen significantly in 15 years from 45% to 36% with corresponding increase on non-food items, largely health, education and transportation, shows the labour bureau’s revised consumer price index for industrial workers (CPI-IW) with base year changed to 2016 as against 2001 now. The index, with revised base … Read more