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The nations 28 states, which account for about 60% of total government expenditure on infrastructure and asset creation, are hamstrung by declining tax revenue and the cost of fighting the Covid-19 pandemic.
The nation’s 28 states, which account for about 60% of total govt expenditure on infrastructure & asset creation, are hamstrung by declining tax revenue & cost of fighting Covid.
Read more about Cash-strapped states threaten Modi's double-digit economic growth goal on Business Standard. Capital expenditure of 17 key states contracted 23.5% in the nine months to December, possibly leading to a shortfall of as much as Rs 1.8 trn in the current year's spending aim, says an economist
RBI signals support to PM Modi's Budget to aid growth SECTIONS Last Updated: Feb 05, 2021, 04:59 PM IST Share Synopsis The RBI also upgraded its growth forecasts. It sees growth in the year starting April at 10.5% from an estimated 7.7% contraction in the current fiscal year. That is a tad lower than the government’s 11% estimate and comes amid early signs of a recovery gaining momentum. Monetary Policy highlights: RBI restores CRR, allows online access to government securities market India’s central bank kept interest rates on hold Friday and began withdrawing some pandemic-era policies,...
India’s central bank keeps focus on market liquidity Bloomberg India’s central bank kept interest rates on hold, while assuring markets of ample liquidity to manage the government’s near-record borrowing. The Reserve Bank of India (RBI) is to sap some funds from banks by using the cash reserve ratio (CRR) — the amount of deposits that lenders must set aside as a reserve — as a tool and to use the money for more targeted market operations, Governor Shaktikanta Das said yesterday. The bank’s Monetary Policy Committee separately decided to keep the repurchase rate unchanged at 4 perc...