#Modinomics

#modinomics #budget2024 #fiscalpolicy #indiangdp #nirmalasitharaman
Watch Business Today TV's Managing Editor, Siddharth Zarabi, in conversation with Dr. Rathin Roy, former member of the PMEAC and Ex-Director & CEO of NIPFP as they explore the macroeconomic landscape of the Union Budget, set to be unveiled on July 23, and discuss the outlook for India's fiscal policy in FY25 and provide insights into India's fiscal policy outlook. For 2023-24, the government's fiscal deficit was recorded at 5.63% of GDP, slightly below the 5.8% forecasted in the Union Budget. This translated to a fiscal deficit of ₹16.53 lakh crore. The revised estimates for 2023-24 projected the fiscal deficit at ₹17.34 lakh crore, equating to 5.8% of GDP, as declared by Finance Minister Nirmala Sitharaman in the interim Budget presented on February 1, 2024. The total expenditure incurred by the central government was ₹44,42,542 crore (98.9 per cent of corresponding RE of 2023-24), of which ₹34,94,036 crore was on revenue account and ₹9,48,506 crore on capital account. Out of the total revenue expenditure, ₹10,63,871 crore was for interest payments and ₹4,13,542 crore for major subsidies. Notably, the government achieved its revenue collection target, with net tax collections reaching ₹23.26 lakh crore in FY24, while total expenditure amounted to ₹44.42 lakh crore, meeting 101.2% of the revised revenue estimates and 99% of the expenditure estimates. Morgan Stanley, a leading investment bank, anticipates that the central government will maintain a fiscal deficit target of 5.1% of GDP for FY25, in alignment with the interim budget. The bank also suggests that fiscal prudence, increased capital expenditure for job creation, and targeted social sector spending will be central themes of the Budget. Moreover, they predict a potential slight reduction in the fiscal deficit target due to robust tax and non-tax revenues. India's GDP growth rate was 7.8% for the quarter ending March 31, 2024, with an overall growth rate of 8.2% for FY24, up from 7% in FY23. Don't miss this insightful analysis on Business Today TV!
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[@mandarp9472]

Cost of living in India is extremely high as compared to per capita income of just 18,000 per month. Housing, education and healthcare costs are out of reach for the majority of Indians.

[@udayakumarmeivelu4736]

Economists completely ignore the effect of manifold improvement in efficiencies. 7w LED bulb even burnt during 24 hours will not consume 60W GLS light burning only 4 hours a day. Transmission towers now carry 2500 MW power compared to 250MW in 1990s. Wind generators produce now 2MW instead of 150 kW then. In Govt projects wastages are significantly getting reduced. Automation has reduced opportunities for wanton sabotage by vested interests. Euro IV fuel with ethanol blending was a dream in 2000.So even 6% Gdp growth now is far more creditable compared to 8% reported in 2000-2010. cost and time over run in govt projects if minimized further there will be automatic drop in fiscal deficit.

[@nikhilspeaking]

bla bla. more productive tech. simply frees up some factor of production to be used elsewhere, it has no dampening effect on growth whatsoever.

[@akshaytakkar6747]

I agree with Ratin on some things and disagree on others. I agree with him regarding affordable housing. Disagree on the cooking gas thing. See cooking gas is not just a freebie. The woman who is using that cooking gas now was previously burning wood to cook food which was probably causing her health issues which contributed to lower productivity as well as burden on the healthcare system. Now multiple this by millions. This is the effect a well targeted freebie like a cooking gas cylinder can achieve. I'm a bit surprised that Ratin Roy failed to understand these second order effects.

[@tapk1995]

This economist is speaking like joker

[@sathyendrababu7868]

South korea like economy is the road to super power 🇮🇳 should opt for❤🎉 Thanks Fr. Roy brilliant as ever 🎉😊

[@mandarp9472]

Tax rates for Income tax and GST should be reduced to boost consumption.

[@mandarp9472]

Income tax rates should be reduced as inflation is high in education, healthcare sector and cost of living is high & rising.

[@ramdesai1063]

Siddhartha generally your programs are well analyzed and closer to positive suggestions But this one disappointed me. Especially since ur guest speaker was from PMEAC..easy to give generic suggestions from outside ..why could he not implement any of his ideas when he was inside ...his talk sounded more like frustration of man who lost his job than a well read intellectual patriot He didn't have a single idea

[@aroopdatta8905]

Why do such people even called to this show ? Only negativity useless mindset. If this guy has solutions better come with same.

[@RentalAccount]

I don't understand what you mean by negativity. 2+2=4 is a fact, not negativity or positivity. Similarly, mathematics of macroeconomics is a fact. You can hate it but cannot change it. Because it is math

[@MrChandramurthy]

Another one trick poney who knows only how to please Yuvraj and Maharani

[@rrsinha1999]

So middle class should not bother about rising prices ..Only farmers is the community who need support. How much land Railway own on which some body build houses...Why he does suggest rich farmer should be taxed..he gestures looks he is frustrated

[@pankajyadav-yy5ny]

What you are joking...limit is 50000 per acre...and you average land holding by farmers....if it is so easy become farmer for 6 month..and .see the results

[@vijayawadac5645]

This guy seems a disgruntled laid off theoretical expert with so called radical ideas .. does not have fundamental of economy .. he is blurred and clogged by western books and economists … - a population of 1.4 B .. people .. Will the ratios vis a vis GDP of western world fit into India ? Never .. - Can India with 30 states and such a complex populace behavior fixed only by Govt ? - A person who has 2 aces of land , have enough food to eat and comfortable basic life with some welfare .. is out of this statistics and ratios .. is he unhappy ? - low Investment by public enterprises .. is it bad ? Which actually bleed the country for decades with low ownership and accountability - There should be pressures within the pyramid to propel and grow by populace with its efforts .. there should be hope, pressure , competition and rewards into the system .. not to be diffused by govt schemes or housing .. radical affordable housing will collapse the real estate in India - Skills India , privatization, less effective becoz of the response from people than govt initiative.. this guy who is a theorist does not actually understand what it means implementation on the ground .. that too in democratic complex india.. - it’s a good thing that taxes to gdp is constant which means govt did not exploit and rob.. - 47 % labor force into agriculture spread over 30 states with different conditions , land pool, economic drivers , political considerations expect Indian PM should radically industrialize and commercialize? What a moron ? - to survive in democratic India .. is optics not necessary.. is he not expressing his views against PM especially to the general public as being laid off .. it’s optics .. He is fit for Pak economy which likes these nice Bs analysis

[@krishnamohan9477]

Gadhe.. Simple common sense.. 10 sal rule aur 5 sal 80 cr ko ration dena pad rha.. Gobar guan mat bant.. Ek vifal pm ko viswaguru karne me 10 sal laga diye, cr skharche kar diye tab bhi nhi hua..tum. Logo se..