M Govinda Rao

Articles By M Govinda Rao

69 Articles

Whither fiscal federalism: Carving out defence fund out of the divisible pool hurts constitutional propriety

The Centre wants a special fund for defence even as its defence-spend to GDP ratio has shrunk, and its spending on state subjects rose from 14% (2005) to 20% (2012)

Jammu and Kashmir News Section 144 imposed in Srinagar; Mufti, Abdullah News

Encephalitis deaths: Do we really care?

Encephalitis deaths: Sadly, this has been happening every year either in Bihar or Uttar Pradesh. After expressing shock and sympathy, everything is back in business until the issue stirs up again the next year.

Encephalitis deaths, Acute Encephalitis Syndrome, AES, Muzaffarpur, bihar News

Reformist government? Time for Modi sarkar 2.0 to walk the talk

The major problem faced in the country is in the factor markets. It is time that the government came out with the law and regulations regarding land consolidation and leasing, to allow for non-exploitative contract farming.

PM Modi, Modi Maldives tour, Modi Maldives award, Modi in Maldives News

Power sharing: Why states are failing decentralisation

The states have not cared to create institutions and systems mandated in the Constitution, including the appointment of the State Finance Commissions, and even when they are appointed, states have not found it obligatory to p

Opinion News

Time opportune to create a Fiscal Council to profligacy of political class

Considering the poor record of fiscal consolidation and the tendency of political parties to make unviable promises, the time is opportune for creating the Fiscal Council.

Opinion News

GST Council needs secretariat, with members having domain expertise to improve tax system

The critical element that helps formalisation is its input tax credit mechanism.

Opinion News

Hope floats: Budget’s tax revenue projections look optimistic

Budget 2019: This year’s budget has a number of initiatives which seems to impact varied sections.

Budget 2019, Budget 2019 tax revenue, Swatch Bharat Mission, Ayushman Bharat, PM-KISAN, GST implementation, SME News

The economic agenda for 2019: Focus on reforming PSU Banks and managing fiscal situation both at centre and states

The focus has to be on reforming public sector banks and on managing the fiscal situation, at the Centre as well as in states.

Opinion News

Union Budget: Overestimation of tax revenues results in unrealistic deficit targets

When the estimate itself is questionable, should we be unduly concerned about slippages of one or two decimal points?

Opinion News

RBI vs Govt tussle: Is the government right to question the Reserve Bank?

What action has been taken against govt-nominated board members for allowing banks to lend to unviable projects?

Opinion News

RBI Monetary policy review: Why central bank should hold rates, if not raise it by 25 bps

The estimates of GDP and GVA growth for the first quarter of 2018-19 at 8.2% and 8%, respectively, have raised hopes of economic revival.

Opinion News

Why the situation does not look very optimistic on the fiscal front

Karnataka’s loan waiver proposal is expected to cost an additional Rs 40,000 crore. Kerala will need substantial spending for addressing flood damage.

Opinion News

GST rates: A year from rollout, GST’s roots get firmer

GSTN promised much but delivered little. Unless the system of matching invoices to confirm input tax credit is in place, the system will remain prone to abuse.

Opinion News

Banking reform: Fragile financial sector needs credible corrective action

The industry-wise build-up of GNPA and stressed advances underlines the urgency of policy reform to ensure that the SCBs are not made to lend for long-term investments.

rbi, banking sector, banking industry News

NDA II Performance: 4 years of Modinomics – Good in parts?

Undoubtedly, in terms of growth and inflation indicators, the performance of the economy has been much better than the previous five years under the UPA rule.

NDA II performance, modinomics 4 years, 4 years of modi govt News

Finance Commission: Redefining the federal fiscal landscape?

The directive to use the population figures of 2011 was not the only issue that prompted the finance ministers of southern states to come together on a platform on April 10 in Thiruvananthapuram; there were many more contenti

Finance Commission, Tamil Nadu, NK Singh, O Pannerselvam, 15th Finance Commission News

GST: Need to revisit the complex system

The GST Council should move expeditiously to simplify the GST structure as well as its administrative details before it is too late.

gst, gst council, tax News

Tax abuse by MNCs: Need to go beyond OECD solutions

The way forward to minimise BEPS is not to treat multinational enterprises and their affiliates as independent entities, but to deal with them as unitary entities and consolidate their profits to determine the tax base.

Tax abuse by MNCs, insurance, life insurance News

Budget 2018: Once again a missed opportunity

Budget 2018: The Budget proposes a number of interventions, but a close look at the allocations does not convince anyone that there are qualitative difference from the past.

Budget 2018: There were high expectations that the Budget 2018-19 will fast-track reforms in the small window available to the government before elections. News

Agenda for 2018: Time to create a fiscal council to monitor calibration of policy

The time is opportune for creating a fiscal council to monitor the calibration of rule-based policy, that is appointed by, and reports to, Parliament.

agenda for 2018, fiscal council, calibration of policy, monitor calibration of policy, restore the economy, implementation of gst News

15th Finance Commission: To realise the goals under new India 2022, here is what Centre must remember

The centre would do well to remember that Offsetting the fiscal disabilities of the states is critical to achieving and realising the goals under New India 2022

Economy News

Indian economy has bottomed out, set to show gradual acceleration

The finance minister’s unveiling of the Rs 9 trillion economy-booster plan, involving the Rs 2.11 trillion recapitalisation of public sector banks and the Rs 7 trillion investments in roads and highways, has not come a day

indian economy, india economy post demonetisation, demonetisation impact on indian economy News

With economy slowing, this is what Narendra Modi government must do

All the attempts at fiscal consolidation will come to nought if any attempt to provide fiscal stimulus is made by breaching the targets. The rating agencies are not likely to take kindly to any such fiscal adventurism.

slowing economy, indian economy, Narendra Modi government on economy, growth of GDP, Yashwant Sinha on economy, Yashwant Sinha on modi government, Yashwant Sinha on arun jaitley, fiscal expansion, Gross Value Added, GVA growth, growth of manufacturing, GST implementation, Kelkar Committee report on economy News

Demonetisation was a self-goal? These numbers speak the truth

The government continues to claim that it has scored a goal without admitting that it is a self-goal—DeMo caused significant disruption.

demonetisation, RBI News

Why lack of capacity of the state is not merely a matter of incompetence

Lack of capacity of the state is not merely a matter of incompetence. It has more to do with ‘special interest group’ politics

india growth, Gross Value Added, india economy, GDP, Insolvency and Bankruptcy Code , construction sector, health and education sectors, NITI Aayog  News

Need for an independent fiscal commission

Housing the commission under the finance ministry will undermine its independence; make it answerable to Parliament only

fiscal commission, fiscal commission india, fiscal commission in india, fiscal policy, need of fiscal commission, what is fiscal commission, fiscal rule, what is fiscal rules, fiscal rules News

NITI Aayog Action Agenda: Responsibility of implementing recommendations rests on Centre, states

The responsibility of implementing NITI’s recommendations lies with both the Union government as well as the states.

Niti Aayog, NITI Aayog Action Agenda, Indian macroeconomy, economic agents, Coastal Economic Zones, Indian Economy, industrialisation, development News