New Delhi, April 14 (IANS) A structural shift in India’s household finances has pushed physical assets, primarily real estate, to almost 70 per cent of household savings from the pre-pandemic average of 58 per cent during FY16-FY20, a report said on Tuesday.Meanwhile, household financial debt has jumped to 6.2 per cent of GDP in FY24, compared to the pre-pandemic average of approximately 4.1 per cent, reducing net financial savings from 7.7 per cent to 5.2 per cent of GDP, the report from mult…
Latest Debt News & Updates
New Delhi, April 6 (IANS) Pakistan’s total public debt rose from Rs 71 trillion to Rs 80.5 trillion in 360 days, a government fiscal summary shows — a Rs 9 trillion increase across a period the government has described as one of economic stabilisation — a new report has said.According to a report published in The News International, the increase translates to Rs 26 billion borrowed every day, including 19 gazetted public holidays.Hourly, the government incurs Rs 1.08 billion in new debt. Moreo…
Kolkata, April 4 (IANS) The CPI(M)-led Left Front in West Bengal on Saturday released its manifesto for the forthcoming assembly elections, with a focus on industrial development and employment generation. In the manifesto, the Left Front promised to generate employment in the public sector by filling all vacant state government posts, and in the private sector by attracting big-ticket investments through changes to the state’s industrial policy.The manifesto, released by veteran CPI(M) …
Bengaluru, April 1 (IANS) Amid the campaign for by-elections, Karnataka BJP President and MLA B.Y. Vijayendra on Wednesday escalated his attack on Chief Minister Siddaramaiah over the state’s financial condition, challenging him to a public debate across districts and renewing his demand for a white paper.In a statement, Vijayendra said, “If the state’s financial condition is truly strong, let us visit every district together. Let us stand on a public platform and discuss before the people…
Shimla, March 26 (IANS) Himachal Pradesh Bharatiya Janata Party (BJP) MP and former Union Minister Anurag Thakur, on Thursday, launched a sharp attack on the Congress government in the state, saying that the party, which came to power in 2022 on the basis of tall poll promises and “10 guarantees”, has completely failed to deliver even a single commitment. The BJP leader said that the Congress government has instead continuously burdened the people with rising taxes and inflation.He added that th…
New Delhi, March 24 (IANS) The Asian Development Bank’s $10 billion credit to Pakistan till 2030 signalled continued multilateral confidence, but underscores the country’s heavy reliance on external support and the urgent need for structural reforms to solve institutional challenges, as per a media report.The editorial from Dawn highlighted that capital inflows alone cannot fix “institutional challenges.””The focus on integrated solutions by combining policy reforms with financing and technica…
New Delhi, March 21 (IANS) The Asian Development Bank’s (ADB) announcement of a $10 billion credit for Pakistan over five years highlights the country’s continued reliance on external funding even as its peer nations grow out of such dependencies, a new report has said.”Experts have noted that countries once considered Pakistan’s peers are now able to self-finance growth, while we need to borrow to pay for basic infrastructure development,” the report from The Express Tribune noted.The finan…
Mumbai, March 13 (IANS) The Shiv Sena Uddhav Balasaheb Thackeray (UBT) on Friday issued a sharp criticism of the Devendra Fadnavis government, alleging that the Chief Minister is creating false illusions by asserting that Maharashtra’s economy is robust, and that within the next three years, the state will emerge as the nation’s first ‘trillion-dollar’ economy.”However, the public knows these bubbles are hollow. Remember, when the time comes, the people themselves will prick these bubbles,” the …
Mumbai, March 10 (IANS) In a scathing critique during the Legislative Assembly’s budget discussion, senior NCP (SP) legislator and former Finance Minister Jayant Patil on Tuesday dismantled the state government’s fiscal road map, labelling the 2026-27 budget as a “document of deception.”Patil argued that the government’s rhetoric of making Maharashtra a $5 trillion economy by 2047 is mathematically impossible at current growth rates and warned that the state is hurtling toward a “liquidity cru…
New Delhi, March 7 (IANS) Delhi BJP President Virendra Sachdeva on Saturday condemned Aam Aadmi Party’s city convenor Saurabh Bharadwaj for making a “baseless” allegation against the Delhi government over management of a Rs 1,000 crore loan.Sachdeva said that for state governments, taking loans either from the Central government, the Reserve Bank of India, or from financial institutions or the open market with the RBI’s permission for long-term or short-term needs is a normal administrat…