Page 22 - Intergovernmental Group News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A building-block Budget Gives a push to capex while easing fiscal consolidation Based on the recommendations of the Fifteenth Finance Commission, the Central government has agreed to amend the FRBM Act. The deficit and debt targets of the existing Act have been rendered irrelevant due to the impact of the pandemic and the longer-term erosion of tax and non-tax revenues relative to GDP. Given these economic realities, the Central government has substantially raised its fiscal deficit-to-GDP ratio for the period 2020-21 (RE) to 2025-26. In 2020-21 (RE), the fiscal deficit has been raised to 9...

Tax revenue to States to be kept at 41% for 5 years February 01, 2021 Greater focus on grants-in-aid; ₹2.38-lakh crore for Defence modernisation To maintain the predictability and stability of resources, especially during the current pandemic times, the Fifteenth Finance Commission (FFC), headed by NK Singh has recommended that the vertical devolution be retained at 41 per cent for the next five years (2021-26)— the same level as in its report for 2020-21. It has placed greater emphasis on augmenting resources of States through grants-in-aid, particularly Revenue Deficit grants (recommend...

Cautions if vaccine not made available throughout a large part of developing world, virus will return APP January 28, 2021 GENEVA/UNITED NATIONS: The UN Economic and Social Council (ECOSOC) president, Ambassador Munir Akram of Pakistan, has renewed the call for ensuring equitable access and distribution of the coronavirus vaccine, saying it was “vital” to control the deadly pandemic and for quick recovery of the virus-hit world economy. “If the vaccine is not available through[out] a large part of the developing world, the virus will roam and return, triggering periodic shutdowns,” h...

ISLAMABAD: Prime Minister Imran Khan presented on Monday a five-point agenda to address the structural barriers in global prosperity, proposing equitable supply of Covid vaccine to developing...

ISLAMABAD: Prime Minister Imran Khan said on Monday that those who trapped us in the foreign funding case are now trapped in it themselves.The premier stated that the government’s position in...