Washington, April 9 (IANS) Pakistan is facing mounting debt pressures, weak growth prospects and persistent structural vulnerabilities, which risks its economic stability, the World Bank said.The report highlighted that economies with high public debt, limited fiscal space and heavy external financing needs remain particularly exposed to global shocks such as rising energy prices and tighter financial conditions.Pakistan, now assessed under a broader regional grouping rather than South Asia, fal…
Latest Fiscal Management News & Updates
Bhopal, March 20 (IANS) The Madhya Pradesh government has constituted the 6th State Finance Commission. The Finance Commission will strengthen the fiscal framework of local bodies, including urban and gram-panchayats across the state.Former minister Jaibhan Singh Pawaiya has been appointed as the Chairman of the Commission, while retired IAS officer K.K. Singh will serve as a member, and Virendra Kumar has been appointed as the Member Secretary.According to a notification issued late on Thursday…
New Delhi, March 11 (IANS) The NITI Aayog on Wednesday launched the second annual edition of the “Fiscal Health Index” to provide a comprehensive and comparable assessment of the fiscal performance of Indian states. The Index has been designed as a data-driven framework to evaluate fiscal soundness, guide reforms, and promote evidence-based fiscal policy making across states.At a time when global public finances are under mounting pressure, the sustainability of sub-national finances has assumed…
Bengaluru, March 6 (IANS) Karnataka Chief Minister Siddaramaiah on Friday said the state’s total liabilities at the end of 2026–27 are estimated at Rs 8,24,389 crore while presenting the State Budget in the Legislative Assembly.The Chief Minister stated that for the financial year 2026–27, the revenue deficit is estimated at Rs 22,957 crore, while the fiscal deficit is projected at Rs 97,449 crore, which is 2.95 per cent of the Gross State Domestic Product (GSDP).The total liabilities of Rs …
Bhopal, Feb 27 (IANS) The Madhya Pradesh Legislative Assembly was adjourned sine die on Friday ahead of schedule till March 6, bringing an eventful Budget Session to a close after weeks of heated debates, Opposition protests, and key announcements on development and governance.The session also saw dramatic moments, including Congress MLA Babu Jandel from Sheopur performing a prolonged headstand before the Gandhi statue as a Gandhian Satyagraha against claimed political harassment via 15 FIRs, in…
Shillong, Feb 26 (IANS) Meghalaya has emerged as one of the fastest-growing states in the country, recording nearly 10 per cent real Gross State Domestic Product (GSDP) growth for three consecutive years after the Covid-19 pandemic, Chief Minister Conrad K. Sangma said on Thursday while replying to the Budget discussion in the Assembly.Citing fiscal indicators, Sangma said the state’s economic size expanded by 76.5 per cent between FY21 and FY25, making Meghalaya the second fastest-growing sta…
Chennai, Feb 17 (IANS) The Tamil Nadu Assembly’s interim Budget session will continue until February 20, following a decision taken at the Business Advisory Committee (BAC) meeting chaired by Speaker M. Appavu.Earlier on Tuesday, Finance Minister Thangam Thennarasu presented the state’s Interim Budget for the financial year 2026–27 in the Assembly. The presentation comes at a crucial time, with Assembly elections due soon, making the interim Budget politically significant. Soon after the F…
Chennai, Feb 16 (IANS) Tamil Nadu can achieve its ambitious $1-trillion economy milestone by 2031 if it sustains its 2024-25 nominal growth rate of 16 per cent, according to the Economic Survey of Tamil Nadu 2025-26. The projection assumes a medium-term 2 per cent annual appreciation in the value of the US dollar against the rupee.If the dollar strengthens at a higher short-term rate of 3.5 per cent annually, the milestone could be delayed by a year, the Survey noted.The 263-page report, prepare…
Shimla, Feb 8 (IANS) Union Minister for Culture and Tourism Gajendra Singh Shekhawat on Sunday clarified that Himachal Pradesh has significantly received higher Revenue Deficit Grant (RDG) in recent years compared to earlier cycles, but with a clear indication that states “must strengthen their own revenue systems and adopt fiscal discipline”. He said fiscal deficit “is fundamentally the gap between revenue and expenditure and cannot be addressed through political-blame shifting but throug…
Jaipur, Feb 5 (IANS) Chief Minister Bhajan Lal Sharma emphasised that the Khejri tree, regarded as Rajasthan’s Kalpavriksha, is an integral part of the state’s identity and plays a crucial role in preventing desertification. He said the government is committed to balancing development with heritage conservation and will bring legislation to protect the Khejri tree.Replying to the debate on the Governor’s Address in the Rajasthan Legislative Assembly on Thursday, he presented for the first …