India plans spending boost as govt tries to revive Covid-19 hit economy

Curbs imposed by the finance ministry on more than 80 government departments and ministries earlier in the year to preserve cash were relaxed this quarter

India is set to swing from being a cautious spender in 2020 to opening the fiscal floodgates as Prime Minister Narendra Modi seeks to pull Asia’s third-biggest economy bank from the worst of the pandemic. Curbs imposed by the finance ministry on more than 80 government departments and ministries earlier in the year to preserve cash were relaxed this quarter. In addition, this year’s budget will be increased from its current 30 trillion rupees ($407 billion) when new spending plans are announced Feb. 1, according to people familiar with discussions, who asked not to be identified as the information isn’t public and subject to change.

The developments will give a boost to much-needed spending to help weather the hit from the coronavirus pandemic. Government expenditures have barely hit the half way mark seven months into the fiscal year, which started April. Government spending is key to staving off a prolonged crisis in the nation that’s home to the world’s second-largest coronavirus outbreak. The economy entered an unprecedented recession last quarter after lockdowns brought economic activity to a near standstill in the April-June period…Read More

Comments

Best Unconventional Workout and Sporting Activities for Summer

In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Summer is the season of holidays, picnics, outings and beaches. With travel and binge eating proper workout becomes that much more essential in summers. But with heat and the sun outdoors, an individual has to balance his indoor and outdoor activities to get a fulfilling workout. In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Mentioned below are some of the best physical and sporting activities that one can use as a workout to stay fit in the summer season. Beach Sports - If in summers one is going to spend much time on beaches or at a beach destination then one may use beach sporting activities such as beach rugby, beach soccer, beach tennis and beach volleyball to stay fit. All of these sporting activities on sand provide a ...

Crypto exchange Binance temporarily suspends payments from EU's key network

Cryptocurrency exchange Binance will temporarily suspend euro bank deposits from one of Europe’s key payments networks, it said in an email sent to users (Reuters) -Cryptocurrency exchange Binance will temporarily suspend euro bank deposits from one of Europe’s key payments networks, it said in an email sent to users on Tuesday. The email said that from 8 a.m. universal coordinated time on Wednesday, customers would no longer be able to deposit funds through the Single Euro Payments Area, or SEPA, schemes. The move was due to “events beyond our control”, the exchange said in the email. “Any deposits attempted via SEPA in the meantime will be returned within 7 working days. SEPA withdrawals are unaffected by this suspension”, Binance said. The development was reported earlier by the Financial Times. The network, which is a European Union project that aims to harmonise euro payments across the region, allows consumers to send euros across three dozen countries. Binance typically ac...

‘Farmers will get justice’, says member of SC panel on farm laws Ghanwat

Included in the four-member committee set-up by the Supreme Court to hold talks with the farmers agitating over the new farm laws, Anil Ghanwat said that “protesting farmers will get justice” Included in the four-member committee set-up by the Supreme Court to hold talks with the farmers agitating over the new farm laws, Anil Ghanwat on Tuesday said that “protesting farmers will get justice.” The Supreme Court on January 12 stayed the implementation of three farm laws and tasked the committee of experts to listen to grievances of the farmers on the farm laws and the views of the government and submit its report to the court within two months. Anil Ghanwat, president of the Shetkari Sanghatana, a Maharashtra-based farmer organisation told ANI, “This movement should stop somewhere and a law should be made in the interest of farmers. First we need to listen to farmers, if they had some misconception about Minimum Support Price (MSP) and Agricultural Produce Market Commit...

Budget 2018-19

Search This Blog