scholarly journals CURRENT TREND IN THE FISCAL DEFICIT OF THE UNION BUDGET IN INDIA

YMER Digital ◽  
2021 ◽  
Vol 20 (10) ◽  
pp. 55-61
Author(s):  
MUDASIR AHMAD GANAI ◽  
◽  
Dr. P NALRAJ ◽  
Keyword(s):  
Financial Crisis ◽  
Current Trend ◽  
Fiscal Deficit ◽  
Government Budget ◽  
Financial Position ◽  
Epidemic Period ◽  
Fiscal System ◽  
Fiscal Rule ◽  
The Government ◽  
Union Government

The present study analyze the fiscal deficit as an instrument to measure the amount of government borrowing to require the financial position and their budget shortfall. This study traces the major current changes in Indian fiscal system during the period 2019-20, though the unions Government adopt the fiscal rule for reduction the financial crisis during the epidemic period of Covid-19. However the current study also traces the percentage of GDP decrease because of the problem of lock-down during the Covid-19. The paper concludes with discussion on the composition of union government receipts and expenditure position in present scenario and indicated the situation of fiscal and revenue deficit of the government budget.

China’s Debt Dilemma

2017 ◽  
Author(s):  
Yukon Huang
Keyword(s):  
Financial Crisis ◽  
Banking System ◽  
Sustainable Growth ◽  
Shadow Banking ◽  
Growth Path ◽  
Property Market ◽  
State Sector ◽  
Fiscal System ◽  
Economic Collapse ◽  
The Government

China’s surging debt levels and an overheated property market have led many to believe that the country is headed for an economic collapse. Yet the argument that China is facing a financial crisis is overstated. China’s debt problem is largely confined to the state sector; its property market is not about to implode; and there is little evidence of widespread insolvency. The risks of shadow banking are also not as serious as many have argued. While the government has the discretionary resources to manage the situation, a set of SOEs does face serious financial problems and the country’s financing modalities are creating risks. Most observers see the banking system as the source of these problems, but the solution begins with reforming China’s fiscal system and restructuring management of SOEs. Addressing these issues would lead to a more financially sustainable growth path over the coming decade.

scholarly journals Public debt sustainability in Serbia before and during the global financial crisis

2016 ◽  
Vol 61 (210) ◽  
pp. 47-77 ◽  
Author(s):  
Vladimir Andric ◽  
Milojko Arsic ◽  
Aleksandra Nojkovic
Keyword(s):  
Financial Crisis ◽  
Public Debt ◽  
Global Financial Crisis ◽  
Empirical Support ◽  
Government Budget ◽  
Fiscal Balance ◽  
The Government ◽  
The Global Financial Crisis ◽  
European Economies ◽  
Near Unit Root

We have analyzed the behaviour of primary fiscal balance and public debt in Serbia before and in the aftermath of the global financial crisis. The results of our analysis are: i) public debt to GDP ratioexhibits (near) unit root behaviour with an overall upward time trend; ii) the response of primary fiscal balance to public debt has been insufficient to mean revert the upward trend in government debt; iii) the efforts of the Serbian government to repay the debt principal after the fiscal rule breach have not been persistent, providing empirical support to the fiscal fatigue hypothesis; iv) the government budget constraint has deteriorated since the beginning of the global financial crisis; v) the response of primary fiscal balance to public debt from the onset of the global financial crisis has dropped more severely in comparison to other European economies.

Contagion concerns worsen Uruguay's economic outlook

2018 ◽  
Keyword(s):  
Financial Crisis ◽  
Economic Downturn ◽  
Purchasing Power ◽  
Fiscal Deficit ◽  
Content Type ◽  
The Government ◽  
Economic Outlook

Significance The Argentine financial crisis and economic downturn are affecting Uruguay at a time when its economy is cooling while popular discontent is rising over the difficulty of finding employment and maintaining purchasing power, as well as increased crime concerns. President Tabare Vazquez’s approval continues to fall. The governing Frente Amplio (FA)’s chances of retaining power after the October 2019 elections are declining. Impacts Difficulties in Uruguay’s two largest neighbours will weigh heavily on the economy in coming months. The FA is likely to lose power in 2019 after 15 years in the presidency. The substantial fiscal deficit gives the government no option to try to boost growth and consumption through stimulus.

Del déficit a la insolvencia. Finanzas y real hacienda en Yucatán, 1760 –1816

2005 ◽  
Vol 21 (2) ◽  
pp. 307-331 ◽  
Author(s):  
Sergio Quezada ◽  
Elda Moreno Acevedo
Keyword(s):  
Eighteenth Century ◽  
Financial Crisis ◽  
Fiscal Deficit ◽  
Fiscal System

A lo largo de la segunda mitad del siglo XVIII la provincia de Yucatán enfrentó un permanente déficit hacendario como resultado de su creciente gasto militar. La sangría de recursos por parte de la Metrópoli y la desarticulación del sistema fiscal colonial, resultado de la guerra de Independencia, llevaron a Yucatán en 1814 a una crisis financiera. Este artículo analiza, desde la perspectiva de las finanzas coloniales, el déficit fiscal y los mecanismos para solventarlo. El estudio se sustenta en la organización de los ramos hacendarios bajo los principios fiscales coloniales. During the second half of the eighteenth-century the province of Yucatan faced a permanent fiscal deficit as a result of the increasing military expenses. The continuos draining from Spain and the disarticulation of the colonial fiscal system as well as the effects of the independence war lead Yucatan into a financial crisis. This article analizes the fiscal deficit and the strategies to solve it from the colonial finances perspective. In order to accomplish this, the organization of the fields of the royal treasury, under the colonial fiscal principles was necessary.

Crisis Reactions and Their Consequences for the Real Sector of the Russian Economy

2011 ◽  
pp. 39-50
Author(s):  
V. Lushin
Keyword(s):  
Financial Crisis ◽  
Acute Phase ◽  
Dutch Disease ◽  
Added Value ◽  
Real Sector ◽  
The Real ◽  
Balanced Development ◽  
Russian Economy ◽  
The Government ◽  
State Modernization

The author analyzes factors that led to a deeper fall in output and profitability in the real sector of the Russian economy in comparison with other segments during the acute phase of the financial crisis. It is argued that some contradictions in the government anti-recession policy, activities of the financial sector and natural monopolies lead to pumping out added value created in manufacturing and agriculture, increase symptoms of the «Dutch disease», etc. It is shown that it may threaten the balanced development of the Russian economy, and a set of measures is suggested to minimize these tendencies and create a basis for the state modernization policy.

Overcoming Stereotypes

2008 ◽  
pp. 110-120 ◽  
Author(s):  
A. Yakovlev
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Pragmatic Approach ◽  
Economic Problems ◽  
Conventional View ◽  
The Government ◽  
High Uncertainty

Using the data of SU-HSU enterprises surveys and internal statistics of KPMG company the paper provides a non-conventional view on three economic problems which have recently been in the center of expert discussions in Russia: competitiveness of firms, corruption in the government and level of taxation. The paper argues the necessity of pragmatic approach to economic phenomena, especially under conditions of high uncertainty caused by the increasing global financial crisis.

Interpreting the Reagan Deficits

2017 ◽  
Author(s):  
Thomas J. Sargent
Keyword(s):  
Monetary Policy ◽  
Interest Rates ◽  
Reagan Administration ◽  
Federal Budget ◽  
Ronald Reagan ◽  
Government Budget ◽  
Government Deficits ◽  
Tax Smoothing ◽  
The Government ◽  
Monetary And Fiscal Policy

This chapter examines the large net-of-interest deficits in the U.S. federal budget that have marked the administration of Ronald Reagan. It explains the fiscal and monetary actions observed during the Reagan administration as reflecting the optimal decisions of government policymakers. The discussion is based on an equation whose validity is granted by all competing theories of macroeconomics: the intertemporal government budget constraint. The chapter first considers the government budget balance and the optimal tax smoothing model of Robert Barro before analyzing monetary and fiscal policy during the Reagan years: a string of large annual net-of-interest government deficits accompanied by a monetary policy stance that has been tight, especially before February 1985, and even more so before August 1982. Indicators of tight monetary policy are high real interest rates on government debt and pretax yields that exceed the rate of economic growth.

scholarly journals The politics of bailouts: Estimating the causal effects of political connections on corporate bailouts during the 2008–2009 US financial crisis

Public Choice ◽  
2021 ◽  
Author(s):  
Vuk Vukovic
Keyword(s):  
Financial Crisis ◽  
Financial Services ◽  
The United States ◽  
Political Campaigns ◽  
Political Connections ◽  
Troubled Asset Relief Program ◽  
Top Executives ◽  
The Government ◽  
The Right ◽  
Relief Program

AbstractIn 2008, as the financial crisis unfolded in the United States, the banking industry elevated its lobbying and campaign spending activities. By the end of 2008, and during 2009, the biggest political spenders, on average, received the largest bailout packages. Is that relationship causal? In this paper, I examine the effect of political connections on the allocation of funds from the Troubled Asset Relief Program (TARP) to the US financial services industry during the 2008–2009 financial crisis. I find that TARP recipients that lobbied the government, donated to political campaigns, or whose top executives had direct connections to politics received better bailout deals. I estimate regression discontinuity design and instrumental variable models to uncover how election outcomes for politicians in close races affected the distribution of bailout funds for connected firms. The results do not imply that some banks were deliberately favored over others, just that favored banks benefited because of their proximity to the right people in power. If being politically connected matters in general, in times of crisis it matters even more.

Decomposition of Fiscal Deterioration in the OECD

2010 ◽  
Vol 213 ◽  
pp. F13-F18 ◽  
Keyword(s):  
Financial Institutions ◽  
Government Support ◽  
Budget Deficits ◽  
Government Budget ◽  
Fiscal Stimulus ◽  
Advanced Economies ◽  
The Government ◽  
Cumulative Deterioration ◽  
The Relationship ◽  
Selection Of

Government fiscal positions in all the advanced economies suffered severe deteriorations during the financial crisis. Figure 1 illustrates the cumulative deterioration of the government budget ratio as a per cent of GDP between 2007 and 2009 in a selection of OECD economies. The sharpest declines materialised in Ireland, Spain and Finland, while public finances in Austria, Germany and Italy have held up better. Budget deficits have worsened in part because of the cyclical downturn, in part because of the policy response to the crisis, including both fiscal stimulus packages and certain fiscal costs related to government support of financial institutions, and in part because of a change in the relationship between revenue and production, which may prove longer-term.

Fiscal Deficit and Economic Growth in Bangladesh

2016 ◽  
Vol 62 (1) ◽  
pp. 31-42 ◽  
Author(s):  
Ebney Ayaj Rana ◽  
Abu N. M. Wahid
Keyword(s):  
Economic Growth ◽  
Budget Deficit ◽  
Negative Impact ◽  
Political Stability ◽  
Ordinary Least Squares ◽  
Policy Implications ◽  
Government Budget ◽  
The Government ◽  
The Impact ◽  
Government Budget Deficit

The economy of Bangladesh is currently going through a period of continuous budget deficit. The present data suggest that the government budget deficit, on average, is nearly 5% of the country’s GDP. This has been true since the early 2000s. To finance this deficit, governments have been borrowing largely from domestic and foreign sources resulting in inflationary pressure on one hand, and crowding out of private investments on the other. During the same period, although the economy has grown steadily at a rate of more than 6%, this growth is less than the potential. This article presents an econometric study of the impact of government budget deficits on the economic growth of Bangladesh. We conduct a time-series analysis using ordinary least squares estimation, vector error correction model, and granger causality test. The findings suggest that the government budget deficit has statistically significant negative impact on economic growth in Bangladesh. Policy implications of our findings include reestablishing the rule of law, political stability in the country, restructuring tax structure, closing tax loopholes, and harmonizing fiscal policy with monetary policy to attract additional domestic and foreign investment.

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