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The Latest Breaking News from Deficit

Implementation of 7th Pay Commission to govt. staff will lead to severe financial stress on State: MTFP

The implementation of the 7th Pay Commission for State government employees can lead to steep increase in committed expenditure over the next several years and would pose a severe challenge in maintaining fiscal deficit targets of the State in coming years, said Medium Term Fiscal Plan (MTFP) for 2024-2028.

The Hindu

Revenue deficit unlikely to come down at least till 2026-27

Bengaluru's revenue deficit is expected to persist until 2026-2027 due to increased spending on guarantee schemes and limited resources.

The Hindu

A radical approach to revenue deficit

Chief Minister Siddaramaiah's Budget for Karnataka demonstrates a long-term strategy, including welfare measures and innovative steps to mobilize capital.

The Hindu

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Here are the big stories from Karnataka today

Karnataka Today newsletter: Siddaramaiah presents revenue-deficit State Budget with outlay of ₹3.71 lakh crore, and more

The Hindu

Karnataka budget outlay pegged at ₹3,71,383 crore, ₹52,000 crore for guarantee schemes

Karnataka State budget for 2024-25 is ₹3,71,383 crore, with ₹52,000 crore allocated for guarantee schemes and a revenue deficit.

The Hindu

Democrats, unions ramp up pressure against fiscal commission - Roll Call

A proposed fiscal commission to fast-track deficit reduction measures, already under attack from the right, also faces a stepped-up assault from the left.

Roll Call

ICE Faces Budget Deficit, Contingency Plans to Release Migrants

Learn about the consequences of the Senate border bill being spiked and the dire budget deficit faced by ICE due to lack of funding. Thousands of migrants ...

Top News

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Nebraska Upsets No. 2 Iowa in Thrilling Comeback Victory

Nebraska Rally to Upset No. 2 Iowa in Women's Basketball Thriller: Cornhuskers storm back from 14-point deficit to secure first win over Hawkeyes in 10 tries.

Top News

Assam budgets social equity for govt jobs

The Assam government on February 12 presented a ₹2.9 lakh crore Budget for the 2024-2025 financial year with a deficit of ₹774.47 crore and proposed no new tax.

The Hindu

Immigration Could Reduce the Deficit by at Least $1 Trillion Over the Next Ten Years

But the Congressional Budget Office projection assumes we will not cut immigration levels, as is likely to happen if Trump returns to power.

Reason

How under-the-skin changes can help Alpine overcome F1 engine deficit

The French manufacturer took the decision as long ago as November 2022 to push on with an aggressive revamp of its F1 car for the 2024 season.

Motorsport

Surging Immigration Will Reduce Deficits by $1 Trillion

New Congressional Budget Office data shows how higher-than-expected immigration is a win for the economy and the federal budget.

Reason

With a target on his back, Barr has a budget hiccup to explain

A higher than forecast deficit is an election-year gift for the opposition.

The Canberra Times

Federal Government Will Borrow Another $20 Trillion in the Next Decade

Three things to know about the new Congressional Budget Office report on the growing federal deficit.

Reason

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Roll Call

Fiscal commission bills under fire from conservative groups - Roll Call

Americans for Tax Reform and other conservative groups have launched an assault on a proposed fiscal commission to curb deficits.

The Canberra Times

ACT budget deficit blowout $340m higher than forecast

Lower tax revenue has contributed to the decline.

The Hindu

Road map for fiscal consolidation

The Interim Budget for 2024-25 maintains tax rates and emphasizes increasing capital expenditures and fiscal correction.

Top News

US Trade Deficit Slightly Increases in December

Learn about the latest US trade figures as the trade deficit rises slightly in December. Gain insight into the impact on the US economy and international t...

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International Business Times

US Trade Gap Narrows In 2023 To Smallest In Three Years

The US trade deficit narrowed in 2023 to the smallest in three years, according to government data released Wednesday, while America bought more goods from Mexico than China for the first time in about two decades.

The Hindu

The severe erosion of fiscal federalism

Borrowing restrictions in States provide an example of ‘annihilative federalism’

The Guardian - UK

Almost half of multi-academy trusts in England in deficit, accountants find

Trusts say costs, such as teacher pay and energy bills, increasing faster than funding

Al Jazeera

Analysis: India’s 2024 interim budget shows a changing economy

Move from agriculture to manufacturing, an increase in demand for Food for Work programme show changes in economy.

Top News

Morocco's Trade Deficit Shrinks 7% on Tourism and Lower Imports

Discover how Morocco's trade deficit has shrunk by 7% due to the booming tourism industry and decreased imports. Find out more in this informative article.

Reason

How Increasing Immigration Can Reduce the Deficit

And why the Congressional Budget Office does a poor job of making those estimates.

Crikey

Wait — Abbott’s 2014-15 budget wasn’t that bad, in one crucial respect

Everyone agrees the 2014 budget was a disaster, right? Here’s why, economically, it was actually pretty sound.

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