Bhopal, July 17 (IANS) Madhya Pradesh government has launched a sweeping austerity drive across government departments and state‑run institutions, imposing restrictions on non‑essential expenditure, including foreign travel, VIP hospitality, costly official events and new consultancy contracts, as part of efforts to strengthen fiscal discipline ahead of the 2026‑27 and 2027‑28 financial years. The Finance Department has issued detailed guidelines making the measures mandatory for all gov…
Latest fiscal discipline News & Updates
Mumbai, July 10 (IANS) In a major relief to the agrarian community, the Maharashtra Chief Minister Devendra Fadnavis on Friday announced to modify a crop loan waiver scheme aimed at pulling distressed farmers out of debt traps and keeping them away from private moneylenders. Brushing aside criticisms regarding the timing of the announcement, the Chief Minister emphasised that the decision was driven solely by farming distress and not by electoral gains, saying, “We could have waited until 2029 s…
Shillong, June 10 (IANS) The Meghalaya government has decided to put on hold all officially funded foreign visits by Ministers, MLAs and government officials for a period of six months as part of a broader expenditure rationalisation and austerity initiative, officials said on Wednesday. The decision has been taken in the larger public interest and comes at a time when governments across the country are exercising fiscal prudence amid emerging global economic uncertainties, including rising geop…
Guwahati, May 29 (IANS) Assam Chief Minister Himanta Biswa Sarma on Thursday highlighted the state’s steady economic progress and fiscal discipline, asserting that the state is moving towards the vision of a “Viksit Assam” through sustained growth and prudent financial management. Sharing key economic indicators, the Chief Minister said Assam has successfully maintained a revenue surplus for five consecutive years from 2020 to 2025, reflecting stronger fiscal health and disciplined public …
Washington, April 15 (IANS) Governments across the world must prioritise efficient, targeted and transparent spending to sustain public trust and economic stability, policymakers and experts said, highlighting lessons from recent fiscal crises and reform efforts across countries.At a high-level panel discussion, officials from the International Monetary Fund and finance leaders from Ecuador and Ethiopia underscored that “spending well is probably one of the cornerstones of the social pact in c…
New Delhi, April 9 (IANS) Pakistan’s economy remains under pressure, as its decision to secure a $600 million short-term loan from Standard Chartered Bank has once again highlighted the country’s fragile external financing position amid mounting fiscal and external challenges, according to a new report.According to an Asian News Post report, the loan is priced at SOFR plus 2.6 per cent — translating to an interest rate of around 6.3 per cent — aimed at supporting foreign exchange reserves,…
New Delhi, April 8 (IANS) While the International Monetary Fund (IMF) has asked Pakistan to remove subsidy on diesel as keeping prices of fuels below the market price violates the conditions that have been fixed for its loans to the cash-strapped country, Islamabad has, in brazen defiance of the norms, gone ahead with reducing the subsidy on petrol as well.“The prime minister’s Friday night dash to slash the petrol levy — undoing a massive price hike meant to fully pass on the global incre…
New Delhi, March 31 (IANS) The recent surge in global oil prices is testing Pakistan’s fragile macroeconomic stabilisation and the International Monetary Fund’s (IMF) tolerance of Islamabad’s decision to cushion domestic fuel prices signals a shift in approach, a new report has said.The report from Dawn, however, cautioned that the government’s decision to shield the population from rising fuel costs is politically understandable but economically unsustainable.The West Asian conflict has i…
Washington, Feb 19 (IANS) Backing the government’s budget strategy, the International Monetary Fund (IMF) on Thursday urged India to stay focused on a medium-term fiscal consolidation path, and called for continued efforts to rebuild fiscal buffers. “We’re encouraging them to continue to focus on a medium-term fiscal consolidation path,” IMF Communications Director Julie Kozack told reporters at a news conference here.This would “enable India to rebuild fiscal buffers and ensure that r…
New Delhi, Feb 7 (IANS) With coastal states leading the Blue Economy mission and industrial corridors driving advanced manufacturing, Andhra Pradesh is positioned as a key partner in India’s journey towards Viksit Bharat 2047, Union Minister Jitendra Singh said on Saturday. The Union Budget 2026–27 gives concrete shape to this vision by placing fisheries, marine exports, coastal infrastructure, and ocean-based economic activity at the centre of India’s long-term growth strategy, he stated….