Arup Roychoudhury

Stories by Arup Roychoudhury

Coronavirus puts spotlight on looming fiscal deficit

Coronavirus puts spotlight on looming fiscal deficit

Rediff.com   1 Apr 2020

To meet the revised estimates for 2019-20, the central government will have to garner Rs 5.03 trillion in total revenues in March, which has seen the worst phase of the coronavirus pandemic so far and the resultant lockdown.

Economy: 'March impacted. April and May will also get hit'

Economy: 'March impacted. April and May will also get hit'

Rediff.com   30 Mar 2020

'This is a period of significant uncertainty, of unknown unknowns.'

Coronavirus to impact fiscal deficit, divestment targets

Coronavirus to impact fiscal deficit, divestment targets

Rediff.com   24 Mar 2020

Officials said there had been no official word or indication from the top yet. The expectation from officials is to do what they can, but it is understood that all fiscal and budgetary targets don't matter anymore.

Sitharaman takes stock of coronavirus impact on economy

Sitharaman takes stock of coronavirus impact on economy

Rediff.com   21 Mar 2020

While the meetings on Friday were preliminary discussions, it is learnt that sectors like tourism; hospitality; aviation; micro, small and medium enterprises (MSMEs); and livestock have sought deferring loan repayments and temporary tax holidays in specific cases to help them tide over the steep fall in economic activity.

What the economy needs: Painful medium-term steps

What the economy needs: Painful medium-term steps

Rediff.com   4 Mar 2020

''Even without major reforms, with a business as usual scenario, and with current inflation trends, we should be clocking around 11 to 12 per cent nominal growth.' 'That is not happening and is a source of worry,' Rathin Roy tells Arup Roychoudhury.

As China shutdown intensifies, govt plans to rework supply chain

As China shutdown intensifies, govt plans to rework supply chain

Rediff.com   24 Feb 2020

To address the supply crunch, CII has suggested leveraging the existing excess capacity in the Indian industry; rolling back import duty hike to look for alternative sources of imports; expanding credit to manufacturing units with quick loan sanctions, and one-time emergency waiver of non-performing asset regulations for three months.

Centre to issue government securities without foreign limits soon

Centre to issue government securities without foreign limits soon

Rediff.com   24 Feb 2020

While the FPI limit on most bond issues would not be raised above 6 per cent, there would be some in which there would be no limits, reports Arup Roychoudhury.

'Getting rid of tax exemptions is a right move'

'Getting rid of tax exemptions is a right move'

Rediff.com   13 Feb 2020

'If you do quick back-of-the-envelope calculation, someone earning Rs 10 lakh can get a benefit of anywhere between Rs 35,000 and Rs 45,000, even if s/he is availing exemptions.' 'A large proportion of people do not avail full exemptions as they don't have money to invest in those schemes.'

'There should be an uptick in growth'

'There should be an uptick in growth'

Rediff.com   10 Feb 2020

'There are some encouraging signs.' 'Notice that we have not said 7%-plus, we are keeping it at 6% to 6.5%.'

Panel to examine fiscal, debt situation likely

Panel to examine fiscal, debt situation likely

Rediff.com   7 Feb 2020

The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.

15th Finance Commission report: Devolution for FY20-21 cut marginally

15th Finance Commission report: Devolution for FY20-21 cut marginally

Rediff.com   2 Feb 2020

This is due to the newly formed Union Territories of Jammu and Kashmir, and Ladakh, which will get funds from the Centre's share, which means devolution will be for 28 states compared to 29 earlier.

15th FC may hike grants, cut devolution to states

15th FC may hike grants, cut devolution to states

Rediff.com   30 Jan 2020

Any reduction in devolution could aggravate the strained relations between the Centre and some opposition-ruled states on a number of issues, including CAA.

In Centre's fire sale: land, factories, apartments, office space

In Centre's fire sale: land, factories, apartments, office space

Rediff.com   27 Jan 2020

Processes are at an advanced stage for a number of assets of the Centre and central public sector enterprises (CPSEs) to be monetised. The assets include office space, apartments, factories, land, power transmission assets, sports stadia, gas pipelines, and telecom assets.

Budget maths won't be hit if oil is below $70

Budget maths won't be hit if oil is below $70

Rediff.com   17 Jan 2020

Oil sank to the lowest level in a month after shedding all of its gains from the US-Iran clash as traders waited to see whether any further hostilities will disrupt exports from the East Asia.

Govt set to breach fiscal deficit target

Govt set to breach fiscal deficit target

Rediff.com   8 Jan 2020

If the fiscal deficit for the year can be maintained at Rs 7.04 trillion, the deficit as a percentage of GDP will slip to 3.44 per cent

How Nirmalaji compares with earlier FMs

How Nirmalaji compares with earlier FMs

Rediff.com   6 Jan 2020

While the situation Sitharaman finds herself in may not be that good, how does it stack up against her three immediate predecessors Pranab Mukherjee, P Chidambaram and the late Arun Jaitley?

Budget 2020: FY21 growth rate likely to be pegged at 6-6.5%

Budget 2020: FY21 growth rate likely to be pegged at 6-6.5%

Rediff.com   6 Jan 2020

It is also likely to assume a deflator of around 4 per cent. That could take the nominal GDP outlook for FY21 to around 10 per cent. It is this nominal GDP forecast on the basis of which the finance ministry is calculating key Budget targets like the fiscal deficit as a percentage of GDP and tax revenue growth for the coming year.

Modi to review ministries' work in quest for turnaround

Modi to review ministries' work in quest for turnaround

Rediff.com   3 Jan 2020

Starting today, Modi and top officials in the Prime Minister's Office will be briefed by various central ministries and departments on their plans as well as agenda for the next five years. They will also apprise the PMO of the work they have done so far in realising the agenda of government's second term in office.

The men behind Sitharaman's 2nd Budget

The men behind Sitharaman's 2nd Budget

Rediff.com   30 Dec 2019

Finance Minister Nirmala Sitharaman will present her second Budget a little more than a month from now. Like any other FM, Sitharaman will depend on her team of bureaucrats and advisors to frame and present the Budget.

Govt for UPA-style bailout of NBFCs

Govt for UPA-style bailout of NBFCs

Rediff.com   26 Dec 2019

In 2009, the UPA government, had announced a slew of measures to boost liquidity in NBFCs. These included a scheme for providing liquidity support to NBFCs having assets size of over Rs 100 crore through a SPV.