Blame Lower Current Account Deficit On Slowing Economy Too

  The good news is that India has brought about a drastic reduction in its frightening current account deficit (CAD) numbers.   The not-so-good news is that the drop did not happen only because of a curtailment of gold imports (by imposing duties).   Rather, it happened because of economic slowdown and a drop in … Continued

UPA’s FDI Claims Don’t Seem To Add Up: Fact Check

  India has received billions of dollars in foreign investment after it began liberalising its markets in the 1990s.   While the inflows have been steady and visible, they’ve never kept pace with many other developing countries, such as China. Moreover, they’ve been steadily declining in the last four years.   Now, there is a … Continued

India’s Bad Loan Problem Worsens, Up 35% In Just 9 Months

  During his vote-on-account speech, Finance Minister P Chidambaram dwelled mostly on the achievements of the United Progressive Alliance (UPA) Government including the high growth rates achieved over the past decade.   However, it is clear, even to a casual observer, that growth in India has slowed down quite perceptibly and business confidence is down. … Continued

How Rupee Comes To Government & How It Is Spent

Finance Minister P Chidambaram presented the last budget of the United Progressive Alliance (UPA)-II on February 17. Chidambaram presented an interim budget of Rs 17,63,214 crore for the financial year 2014-15.   So, how will Government collect the money needed to be spent? Borrowings and liabilities will account for 25 paise of every rupee raised … Continued

An Interim Budget On Auto Mode: Quick Glance

  Finance Minister P Chidambaram refrained from announcing any populist measures in the final Budget of the United Progressive Alliance (UPA) II Government but did offer concessions to automobile and durable goods manufacturers to woo the Aam Aadmi.   Chidambaram said the Government may lose Rs 300-400 crore for the remainder of the current financial … Continued

Budget 2014: The Dope On Who Gets How Much

So, as you saw from the countdown, the Finance Ministry, Defence Ministry and the Ministry of Consumer Affairs, Food and Public Distribution take the lion’s share of the allocation pie in the vote-on-account presented by the Finance Minister. Here’s a look at the top ten ministries by allocation and their expenditures over the last five … Continued

Budget 2014: The Dope On Who Gets How Much

The Ministry of Finance gets the maximum allocation of Rs 6,36,923.09 crore in the interim Budget 2014-15 presented by Finance Minister P  Chidambaram today. The finance ministry had the maximum allocation last year.   The Ministry of Defence got the second highest allocation (Rs 2,79,202.87 crore) followed by the Ministry of Consumer Affairs, Food and … Continued

Fiscal Deficit To Be Reduced to 4.1% of GDP In FY15

  Finance Minister P Chidambaram set a fiscal deficit target of 4.1% of GDP for 2014-15 while presenting the vote-on-account in Parliament today, and added that the deficit could be contained at 4.6% of GDP in 2013-14.   Chidambaram said: “Let me begin with the good news. Fiscal deficit for 2013-14 will be contained at … Continued

Has Gold Smuggling Really Increased In India?

Addressing tax officials on the Customs Day on 28th Jan, Finance Minister P Chidambaram said that there has been an increase in the smuggling of gold to the tune of about 1-3 tonnes every month ever since the restrictions were imposed on the yellow metal last year. IndiaSpend did a quick check to see the amount … Continued