Public finance
Budgets, deficits, taxes and spending: what the government commits to, how it pays for it and what it gets in return.
Public finance
India’s August fiscal accounts point to three different budget risks
The Union deficit reached 41.9 per cent of the annual estimate by August. Revenue timing, recurring spending and the quality of capital expenditure deserve separate tests.
Public finance
India’s fuel tax cut moves part of the oil shock onto the Budget
Reducing central excise by ₹10 per litre can support fuel suppliers and protect consumers from an immediate increase. The cost and the case for keeping it depend on how long the shock lasts.
Public finance
India’s Budget makes a credible capex bet. Execution will decide the return.
The Union Budget raises planned capital spending while narrowing the deficit target. The return depends on execution, how states use the funds and whether completed assets unlock private investment.
Public finance
India’s 8% nominal growth estimate leaves the deficit maths largely intact
Comparing the January GDP estimate with the original Budget requires matching the two data vintages. The denominator has barely changed. The pressure is on tax receipts and spending choices.
Public finance
India’s government is spending like there’s no tomorrow
With households and firms holding back, government spending was the only part of India’s GDP growing quickly in 2020. How long can it carry the economy?