By Martin Mou HSBC Holdings PLC s net profit fell sharply in 2020 as the coronavirus ravaged the global economy, causing expected credit losses to surge and interest rates to drop. Net. | February 28, 2021
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There may not be leeway to specify a combination of fiscal deficit and debt that is very different from the current FRBM norms
The Union Budget for 2021-22 has provided for a sharp relaxation of the Central government’s fiscal deficit to 9.5 per cent in 2020-21 and 6.8 per cent of GDP in 2021-22. The combined fiscal deficit and debt of the Centre and States may be much higher in 2020-21 at about 14 per cent and 90 per cent of GDP. These levels, exceeding the current FRBM norms of 6 per cent and 60 per cent by wide margins, have been justified as a countercyclical response to the Covid crisis. Now, the issue is to guide these back to levels consistent with debt sustainability.
Opinion
Pay the mortgage early or save in an RRSP? This is the more tax-efficient option for young homeowners Frederick Vettese Published February 23, 2021 Bookmark
Everyone knows they need to save for retirement. But homeowners also have to pay for an increasingly expensive roof over their heads and frankly, that might take priority for those in their 20s and 30s.
If they can’t afford to do both, how should young adults choose between ramping up their monthly mortgage payments and making valuable contributions to a registered retirement savings plan?
We’ve all heard about the importance of saving early to benefit from the magic of compound interest within an RRSP, especially since the investment income is not taxed during the accumulation phase.