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Dumb and Dumber: Facing slowdown, govt squeezes expenditure -Subodh Varma

nvestment. Yet the Modi government, a prisoner of the discredited neo-liberal dogma, is sticking to squeezing public spending. Latest details of government revenues and expenditure as released by the Controller General of Accounts (CGA) for July 2019 show this in indisputable terms. Here’s the big picture: total government expenditure (as share of annual budgeted expenditure) is down to 34% by July this year compared to 36% up to July 2018. [

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Recently presented Union Budget does not provide updated data on important heads for FY 2018-19

ture is lower than the Revised Estimates' figure by Rs. 1,45,813 crore viz. by -5.93 percent. In a blog post dated 10th July, 2019, Suyash Tiwari of PRS Legislative Research has explained that the Controller General of Accounts (CGA) under the Ministry of Finance maintains the actual receipts and expenditure accounts of the Central Government on a monthly basis. Apart from the monthly accounts, the provisional unaudited figures (termed as Provision

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A hand-to-mouth Budget -Puja Mehra

arlier, no matter how uncomfortable the fiscal position? Falling tax revenues The Central government’s tax revenues for the financial year ending March-end 2019 — as reported by the Controller General of Accounts (CGA) — fell short of the Interim Budget’s estimates (that the Modi government presented in its first tenure) in February by a whopping 0.9% of GDP. The CGA’s figures show that direct tax collections for

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Explained: Why Centre's Reported Finances in the Economic Survey and Budget Differ -Suyash Tiwari PRS blog The Union Budget replicates revised estimates reported in the interim Budget, not the updated figures for 2018-19 from the Controller General of Accounts. Finance minister Nirmala Sitharaman presented the Union Budget for the financial year 2019-20 in parliament on July 5, 2019. In the 2019-20 budget, the government presented the estimates of its expenditure and receipts for the year 2019-20. The Budget also gave an accou

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More of the dismal same -Prabhat Patnaik

collections. The finance minister quoted the revised estimates of receipts for 2018-19, which are close to the budget estimates for that year, but these are well above the latest figures given by the Controller General of Accounts. According to the latter, there has been a shortfall of Rs 1.6 lakh crore in GST revenue of the Centre in 2018-19 compared to the budget estimates. The situation in 2019-20, originally expected to be better, is unlikely to b

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Fiscal deficit in April-August at 94.7% of govt's annual target -Asit Ranjan Mishra

fiscal deficit touched 94.7% of the budgeted target during the April-August period while revenue deficit crossed the budget estimate at 113.8% in the same period, showed data issued on Tuesday by the Controller General of Accounts (CGA). In the same period last year, government had exhausted 96.1% of fiscal deficit and 113.8% of revenue deficit. From a ?30,659 crore surplus last year, RBI transfers jumped 63% to ?50,000 crore this year. Pleas

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Hard reality and political compulsions may force a rural-focused budget

cy in budgetary data The figures on expenditure by the various departments under MoAFW and MoRD, which is provided by the annual publication entitled Finance Accounts at a glance (published by the Controller General of Accounts, available at and the ones, which is sourced from the annual budget documents (available at, are not the same. Table 2: Expenditure of Ministry of Agriculture & Farmers

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Sliding GST collections may put pressure on government -Gireesh Chandra Prasad

of gross domestic product (GST), a target set in February. In the April-October period, the fiscal deficit scaled 96.1% of the Rs5.4 trillion targeted for the full year, according to data from the Controller General of Accounts. The government has so far managed to raise about three-fourths of the targeted Rs72,000 crore through disinvestment, according to information available from the finance ministry. Net direct tax receipts, however, grew

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Quality of spending comes under radar as fiscal draws to a close -Surabhi

r, I think it will miss the revenue deficit target of 2.3 per cent of GDP by a reasonable margin in 2016-17,” said DK Srivastava, chief policy advisor, EY (India). According to data with the Controller General of Accounts, the revenue deficit between April and November 2016 touched a two-year high of ?3.48 lakh crore or 98.4 per cent of the Budget Estimate. The Fiscal Responsibility and Budget Management Act, 2003 aims to lower the revenue

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Be cautious on new accounting system: CGA -TCA Sharad Raghavan

-The Hindu The new method provides a more accurate picture of a company's financial position. It is also more complex, expensive and time-consuming. The Controller General of Accounts has asked the government to be careful in adopting the accrual method of accounting considering the costs involved as only a few of its departments can benefit. “We should tread this subject in a careful manner. There is no such thing as a big-bang appro

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