India shifts from fiscal deficit to debt-to-GDP as its primary fiscal anchor from 2026-27. While offering flexibility, low tax revenues pose a significant challenge to achieving the 50% target by 2031.
Former CEA Arvind Subramanian & Prof. Devesh Kapur analyse India's unique development path, skipped manufacturing transition, and the fiscal costs of precocious democracy. Key insights from their Idea Exchange.
Climate change is now a fiscal crisis. From heatwaves to floods, environmental damage hits budgets. The green transition demands massive public spending. Explore the economic reshaping.
India is on track to achieve, and potentially exceed, its 4.4% fiscal deficit target for FY26, boosting investor confidence. PwC's Ranen Banerjee explains the fiscal math despite lower nominal GDP growth.
PM's Economic Advisory Council outlines a fiscal consolidation roadmap, targeting deficit and debt reduction in the 2026 Union Budget to fuel India's developed nation vision. Read the strategic plan.
India's FY26 budget faces a major tax revenue gap, but strong non-tax receipts and GDP revisions are likely to keep the fiscal deficit near its 4.4% target. Get the full analysis.
India's nominal GDP growth estimate of 8% for 2025-26 falls short of budget assumptions, risking tax collections and the 4.4% fiscal deficit target. Read the analysis.
Despite a projected ₹1.5-2 trillion tax revenue gap and slower nominal GDP growth, India's fiscal deficit target of 4.4% for FY26 remains achievable. Strong non-tax revenues and statistical revisions provide crucial support. Read the full analysis.
India's nominal GDP for FY25 estimated at Rs 357.14 lakh crore, slightly above budget projection. Fiscal deficit target of 4.4% hinges on spending control. Read the full analysis.
Karnataka's fiscal deficit hits the legal 3% ceiling due to rising borrowings for welfare schemes. Officials say borrowing may touch Rs 93,000 crore. Read more on the state's budget challenges.
India's economy grew at a robust 7.6% in real terms for FY24, yet low inflation significantly narrowed nominal GDP growth, impacting budget calculations. Economists weigh in on the implications.
Official data projects India's economy to grow 7.4% this fiscal, powered by strong manufacturing and household spending. Key drivers and expert insights revealed.
As India's fiscal devolution faces scrutiny, a prudent balance is critical for mending strained Centre-state ties. Expert analysis on the path forward. Read more.
India's economy is projected to expand 6.9% in FY27, driven by reforms and trade pacts. Retail inflation may average 3.8%. Read the full forecast.
India Ratings and Research forecasts India's GDP growth at 6.9% for FY27, citing a persistent 'Goldilocks' economic scenario. Key drivers include robust investment and controlled inflation. Read the full analysis.
Analysis reveals state capital expenditure doubled to Rs 8.4 trillion in 5 years, driven by central loans & borrowing flexibility. The 16th Finance Commission's recommendations will be crucial for future spending space. Read more.
GST rate reductions impact tax revenues, pushing Centre's fiscal deficit to 62.3% of target. States face higher borrowing costs. A year of tough expenditure cuts ahead to meet deficit goals. Read the full analysis.
India's fiscal discipline is acting as preventive medicine for the economy, creating buffers against global shocks. Learn how this strategy ensures stability and growth.
New York City's new Mayor Zohran Mamdani promises aggressive taxation and redistribution, but inherits a budget set for deep deficits. Analysis of the fiscal challenge ahead. Read more.
India's fiscal deficit for April-November FY25 widened to Rs 9.77 lakh crore, marking a 15.4% year-on-year surge. Explore the key drivers and government's fiscal roadmap.
Former FM P Chidambaram counters AICC's Praveen Chakravarthy, says debt-to-GSDP ratio is the true fiscal health indicator. TN's liabilities within limits. Read the full debate.
Carmen Reinhart warns the US dollar's 'exorbitant privilege' is under threat as nations hedge bets. Rising deficits & trade uncertainty fuel a slow but steady diversification from dollar assets. Read analysis.
The US Federal Reserve's independence faces unprecedented political pressure, risking inflation control and global dollar trust. Key analysis on AI boom, deficits, and market risks.
India aims to stick to its medium-term fiscal deficit target of 4.3% in FY26, buoyed by a record RBI dividend. However, rising subsidy costs and lower nominal GDP growth present significant challenges to consolidation. Explore the details.
CAG report reveals Indian states face mounting fiscal stress with rising debt and rigid spending, limiting investment capacity. Key findings on revenue, deficits, and liquidity concerns.
India's fiscal deficit for April-November hits ₹9.76 lakh crore, cushioned by strong non-tax revenue. Tax collections lag, impacted by rebates and GST changes. Read the full analysis.
India's fiscal deficit for April-November FY26 reached 62.3% of the annual target, impacted by GST rate cuts. Tax revenue lags while expenditure rises. Key details inside.
Punjab's AAP government grapples with fiscal strain, debt burden, and GST compensation loss in 2024. Can it navigate the economic headwinds? Read our analysis.
India's fiscal deficit reached Rs 9.76 lakh crore by November 2025, covering 62.3% of the full-year target. Explore the details on revenue and expenditure trends shaping the economy.
Government data reveals India's fiscal deficit touched 62.3% of the full-year target by November 2025. The Centre's budget aims for a 4.4% GDP deficit in FY26. Read the full analysis.