The aggregate debt of these states is set to expand to 28.9% of gross state domestic product (GSDP) in the ongoing fiscal 2021 from 21.9% in FY19 and an estimated 22.3% in FY20, while revenue receipts are set to shrink by a significant 19.3% against the 14.3% growth budgeted for this fiscal year. Shortfalls in state goods and service tax collections, sales tax or value-added tax and central tax devolution have contributed to the contraction.
The agency will shortly file a detailed reply in a special CBI court opposing the interim bail granted to Saxena, who is also an “approver” in a related case where the Enforcement Directorate (ED) is investigating charges of money laundering in the AgustaWestland helicopter deal, said people with direct knowledge of the matter.
The ministry of housing and urban affairs changed land use for a 15-acre plot to the south of Rashtrapati Bhavan and North Block. Earlier it was classified as transportation and parking under Master Plan 2021 and recreational or neighbourhood play area under the Zonal Development Plan.
While improvements in rural demand will increase the sector’s share in quarterly figures of gross domestic product, those are insufficient to further cushion the impact of the pandemic and take the economy to ‘near zero’ growth this fiscal year, according to economists ET spoke to.
If those results hold, that would be a recipe for gridlock in Washington, analysts say, where lawmakers would struggle to agree even on basic duties like paying debts and funding government operations. More ambitious efforts would likely be off the table entirely.
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