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CRISIL Limited announces Q4, CY2020 results

Going easy on loans: FM brings transparency in off-budget borrowings

The government has brought further transparency in the fiscal deficit numbers by doing away with loans from the National Small Savings Fund (NSSF) to the Food Corporation of India (FCI) from the next financial year. The government will provide Rs 2.54 trillion to FCI in the next financial year, wiping out its arrears. So far, the government used to give loans from NSSF to FCI, which did not account for the government expenditure. For instance, it pegged this loan to FCI at close to over Rs 84,000 crore in the current financial year, which in fact was over Rs 60,000 crore lower from the Budget Estimates. The government provided NSSF loan in the range of Rs 70,000 crore-Rs 1.1 trillion to FCI in the previous four years.

Budget creates space for supporting economy: CRISIL MD & CEO Ashu Suyash

This is quite an expansionary Budget that rightly hits the pause button on fiscal consolidation to create space for supporting the economy and to work towards erasing the pandemic scars. It lays out a rather relaxed fiscal consolidation path for the medium run, which can be realised if growth remains healthy, and there are a number of steps to push up the medium-term growth potential. The onus was on the government to do the heavy lifting for reviving the investment cycle as a broad-based recovery in private capex is not yet in sight. Quite in line, it has raised the capex allocation for fiscal 2022 by 26 per cent year-on-year, with sharp focus on infrastructure. To be sure, public investment not only crowds-in private investment, but also has a higher multiplier effect compared with revenue spending.

Strong growth still to come for mutual funds: Crisil - The Financial Express

Strong growth still to come for mutual funds: Crisil - The Financial Express
financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.

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