{"id":12240,"date":"2024-06-14T15:17:52","date_gmt":"2024-06-14T15:17:52","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=12240"},"modified":"2024-06-14T15:17:52","modified_gmt":"2024-06-14T15:17:52","slug":"kerala-budget-chooses-fiscal-thrift-over-profligacy","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/kerala-budget-chooses-fiscal-thrift-over-profligacy\/","title":{"rendered":"Kerala budget chooses fiscal thrift over profligacy"},"content":{"rendered":"

TheKerala budget for 2023-24signals that the state is changing its approach from profligate spending to . Whether or not it is forced by the Union Government<\/a> and the CAGs stand on off budget financing through KIIFB, it is a welcome change as the previous path was taking the state towards a fiscal crisis that would have badly affected future generations.<\/p>\n

The new approach to budget making shows respect for fiscal discipline.
The finance minister has focused on raising revenues through a slew of tax hikes and expenditure rationalization. The Fiscal Deficit<\/a> is projected to come down to 3. 5% of state GDP as per the cap set by the Finance Commission<\/a>. But it is disappointing to see the revenue defi citcreep up from 1. 96% of state GDP to 2. 1%. It means that, in spite of the revenue gains from tax hikes, the state continues to prioritise short term spending over investments.<\/p>\n

While there are funds allocated in a number of important areas, it is of concern that the Education<\/a> budget has fallen by a massive 30% from Rs 2,546 crore allocated last year to Rs 1,773 crore in this budget. At a time when there are reports of exodus of students from the state, lower funds for education is the last thing we need. Presumably this is because of a cut in the centrally sponsored component of the education budget, but nevertheless the government has to take imaginative action to revitalize the higher Education sector<\/a> in particular and that too with limited funds.<\/p>\n","protected":false},"excerpt":{"rendered":"

TheKerala budget for 2023-24signals that the state is changing its approach from profligate spending to . Whether or not it is forced by the Union Government and the CAGs stand on off budget financing through KIIFB, it is a welcome change as the previous path was taking the state towards a fiscal crisis that would … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1099],"tags":[959],"class_list":["post-12240","post","type-post","status-publish","format-standard","hentry","category-kerala","tag-23-03-23"],"yoast_head":"\nKerala budget chooses fiscal thrift over profligacy - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/kerala-budget-chooses-fiscal-thrift-over-profligacy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kerala budget chooses fiscal thrift over profligacy\" \/>\n<meta property=\"og:description\" content=\"TheKerala budget for 2023-24signals that the state is changing its approach from profligate spending to . 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Whether or not it is forced by the Union Government and the CAGs stand on off budget financing through KIIFB, it is a welcome change as the previous path was taking the state towards a fiscal crisis that would ... 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