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Mint Profile picture
@livemint
Aug 18, 2021 • 6 tweets • 5 min read • Read on X
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#MintPlainFacts | The government presents a mixed card in the first quarter on the two cornerstones of its fiscal strategy. On revenue collection, it exceeded expectations. On capital expenditure, it’s below expectations

(By Rangoli Agrawal)

Read here: livemint.com/economy/centre…
The Union government is off to its best revenue collection drive in five years, with collections touching 28% of its budgeted revenues for fiscal year 2021-22 (FY22) in the first quarter (April-June) alone.

#MintPlainFacts by Rangoli Agrawal

Read here: livemint.com/economy/centre…
The Centre has done well in receipts, but not on capital spending. On 30 June, the Centre directed ministries, with some exceptions, to limit their spending in the second quarter to 20% of the full-year amount

#MintPlainFacts by Rangoli Agrawal

Read here:livemint.com/economy/centre…
The gains on the tax side are perceptible. The Centre’s gross tax revenues increased at an annualized rate of 15% over the quarter ended June 2019 (pre-pandemic period).

#MintPlainFacts by Rangoli Agrawal

Read here:livemint.com/economy/centre…
Of its total FY22 budget of ₹34.8 trillion, the government budgeted ₹15.5 trillion would come from tax revenues. Another ₹15.1 trillion it expected to borrow.

#MintPlainFacts by Rangoli Agrawal

Read here:livemint.com/economy/centre…
The Centre needs all the funds it can raise. It needs this to meet the welfare spending it has committed to, and to meet its own massive running expenses.

#MintPlainFacts by Rangoli Agrawal

Read here: livemint.com/economy/centre…

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More from @livemint

Mint Profile picture
Mar 27
#MintPlainFacts | Regulators and policymakers are alarmed about the gold loan market, with the RBI restricting IIFL Finance and the finance ministry urging banks to review their gold loan portfolios due to concerns about collateral adequacy and repayment methods.

Read here: read.ht/SUnpImage
#MintPlainFacts | Gold loans, once a mainstay of mainly NBFCs, soared during covid, which affected life in India from March 2020 onwards, and its aftermath.

Read here: read.ht/SUnp
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#MintPlainFacts | The incentive to take gold loans was driven by two factors. One, a move by RBI to increase the loan-to-value ratio of non-agricultural gold loans from 75% to 90%. Thus, for ₹100 worth of gold, lenders could issue a loan worth ₹90, against ₹75 previously. Two, a sharp jump in the price of gold itself.

Read here: read.ht/SUnpImage
Read 6 tweets
Mint Profile picture
Feb 13
#MintPrimer | Farmers have laid siege to European cities with tractors protesting subsidy cuts, cheap imports, high energy prices & imposition of green policies. In India, farmers are preparing for another showdown. What’s going on? Is there a common thread ? Mint explains

Read here: read.ht/Rwi8Image
#MintPrimer | Beginning January, farmers from several member-nations of EU invaded cities with their tractors, burning tyres, dumping manure, raiding supermarkets, blocking access to ports and highways and choking city centres.

Read here: read.ht/Rwi8
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#MintPrimer | Back in 2019, Dutch farmers took to the streets after the government disclosed plans to cut nitrogen emissions by slashing livestock population.

Read here: read.ht/Rwi8
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Read 6 tweets
Mint Profile picture
May 15, 2023
#MintPrimer | On 1 May, treasury secretary Janet Yellen sent a letter to the US Congress saying that on 1 June the government is likely to run out of money.

With the government currently breaching its debt ceiling, the situation has become parlous.

Mint explains what’s… twitter.com/i/web/status/1… Image
#MintPrimer | There is a limit set to how much the US government can borrow to meet its legal obligations, which include paying interest on its debt and paying military salaries, tax refunds, and social security, etc.

Read here: livemint.com/news/world/us-… Image
#MintPrimer | Around the world, almost all governments spend more than they earn. This difference is known as the fiscal deficit and is financed through taking on debt.

Read here: livemint.com/news/world/us-… Image
Read 6 tweets
Mint Profile picture
May 15, 2023
#MintLongStory | Produced by over 80 million rural families, milk is the largest farm product valued at close to ₹10 trillion annually, as per official estimates.

Read here: livemint.com/news/india/the… Image
#MintLongStory | The bulk of loss-making cooperatives—55 out of 95 unions—were from Uttar Pradesh, the largest #milk producing state.

Read here: livemint.com/news/india/the… Image
#MintLongStory | It seems practically impossible to merge strong local brands into a national one as states would object vigorously, said Ajay Vir Jakhar, former head of the Punjab Farmers Commission.

Read here: livemint.com/news/india/the… Image
Read 4 tweets
Mint Profile picture
May 15, 2023
#MintPlainFacts | The verdict of the #KarnatakaAssemblyElections on Saturday gives all key actors plenty to think about.

Read here: livemint.com/elections/opin… Image
#MintPlainFacts | With the loss of #Karnataka, the #BJP now has chief ministers in nine states, compared with 11 back then. The party’s count of Assembly seats has dropped from 1,364 in May 2019 to 1,304 now.

Read here: livemint.com/elections/opin… ImageImage
#MintPlainFacts | The next round of state elections, in late 2023, will see BJP-Congress faceoffs in Madhya Pradesh, Rajasthan and Chhattisgarh.

Read here: livemint.com/elections/opin… Image
Read 4 tweets
Mint Profile picture
May 15, 2023
🗞 In Mint today:

🛂 Visa woes force Indian IT companies to hire locally in US

💰 Adani revives capex plans for new businesses

🥛 Is there room for a dairy behemoth?

🇺🇸 How serious is the US about its debt ceiling?

🗂You can own a piece of your office now

🧵👇
Indian IT companies have been forced to seek an alternative staffing route. They are starting to hire locally in important markets such as the US due to delays in visas for their Indian hires, report @DevinaSengupta and @VaruniKhosla:
livemint.com/news/india/ind…
The Adani group has revived its capex plans after a four-month pause. It will plan an initial investment of $1.5 billion to kickstart two businesses, reports @anirudh_laskar:
livemint.com/companies/news…
Read 6 tweets

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