New Delhi/Bengaluru, March 6 (IANS) Union Minister for Food, Consumer Affairs and Public Distribution Pralhad Joshi has criticised the 17th Budget presented by Chief Minister Siddaramaiah, stating that its only distinction is its large size of Rs 4.48 lakh crore while also setting records in terms of rising state debt and fiscal deficit, and appearing to be driven by “vote bank” considerations.Reacting to the Karnataka government’s Budget for 2026–27, Joshi said on Friday that instead of…
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Bengaluru, March 6 (IANS) Leader of the Opposition in the Karnataka Legislative Assembly and senior BJP leader R. Ashoka on Friday criticised the State Budget presented by Chief Minister Siddaramaiah, alleging that it imposes a massive debt burden on the people of the state while offering little in terms of real development.Speaking to reporters, Ashoka said the Chief Minister has pushed Karnataka into unprecedented levels of debt.“Including this Budget, the Siddaramaiah government has accumul…
Mumbai, March 5 (IANS) Maharashtra’s public debt is set to climb to a staggering Rs 9.32 lakh crore in 2025-26, even as the state projects a strong 7.9 per cent economic growth that edges past the national forecast, according to the pre-budget Economic Survey presented in the Maharashtra Assembly on Thursday.Minister of State for Finance, Ashish Jaiswal, tabled the document, which paints a picture of robust expansion fueled by impressive GST inflows and buoyant market sentiment, while underscori…
Dhaka, Feb 16 (IANS) At least 236 of the newly elected MPs in Bangladesh’s 13th Parliamentary election are millionaires, while nearly half are set to enter Parliament carrying significant debt, local media reported on Monday, citing the anti-graft watchdog — Transparency International Bangladesh (TIB).Addressing a press conference in Dhaka on Monday, TIB researcher Mohammad Touhidul Islam unveiled a study titled ‘Thirteenth National Parliament Election Process and Affidavit-Based Observation’, …
New Delhi, Feb 12 (IANS) The privatisation of Pakistan International Airlines (PIA) has been sold as a big reform to end decades of losses, but the opaque deal has turned out to be an example of institutionalised corruption, according to a media report.The Pakistan government has parked around Rs 650 billion of PIA’s historic liabilities into a holding company, which insulates the buyer from huge accumulated losses. A clean operating entity has been sold to a private consortium led by Arif Hab…
New Delhi, Feb 3 (IANS) Debt-ridden Pakistan’s recent request to the United Arab Emirates (UAE) for the rollover of $3 billion deposits reflects the heavy dependence of the country’s economy on borrowing from friendly countries and the IMF to stay afloat.This pattern of repeated rollovers and emergency funding from friendly states and the IMF has provided short-term breathing space but has also entrenched a fragile economic model that discourages domestic reform, distorts incentives, and per…
New Delhi, Feb 2 (IANS) The Pakistan government has become addicted to IMF borrowing much like a drug addict and refuses to extricate itself from the self-made problem of creating cycles of foreign exchange shortages and bare sufficiency with IMF loans, according to a new report.These are accompanied by fiscal profligacy as seen in the government’s inability to contain needless expenditures and raise sufficient revenues to keep its debt at sustainable levels, according to an article by former …
Bhubaneswar, Feb 1 (IANS) Odisha Pradesh Congress Committee (OPCC) President Bhakta Charan Das on Sunday strongly criticised the Union Budget for the 2026–27 financial year, presented in Parliament, describing it as ‘anti-people’ and ‘directionless’. Speaking to media persons, Das also alleged that the Union Budget tabled in Parliament by Finance Minister Nirmala Sitharaman primarily benefits a “handful of industrialists” while neglecting the needs of farmers, women, youth, the poo…
New Delhi, Jan 31 (IANS) The current regime in Pakistan is outdoing even those that preceded it in accumulating short-term debt, promoting conspicuous consumption, and engaging in resource grabs, a new report has said.There is actually a bigger gap between how the ruling class projects its ‘successes’ and the actual conditions of working people than the inordinate focus on foreign remittances, says the report in Dawn.As per figures, remittances reached a record high of $34 billion in 2024 –…
New Delhi, Jan 30 (IANS) Pakistan’s socioeconomic crisis is being worsened by rising food inflation and unemployment rates, according to a media report.Maldives Insight cited the World Bank’s data to show that about 45 per cent of the population in Pakistan is classified as living below the Poverty Line (BPL). The country’s unemployment rate remains at a 21-year low, with investment at a 50-year low and gross debt-to-GDP ratio at 71.3 per cent.“All this deepens stagnation, inequality, fi…