#fiscal management

[the-funtime-autocrat]

The budget should be balanced, the treasury should be refilled, the public debt should be reduced and the arrogance of public officials should be controlled.

Ross Perot (1930-2019), Billionaire and Presidential Candidate (1992 and 96).

[imperium-romanum]

Ancient Greece tells us how engaging ordinary citizens in public finance results in better budgets

Politicians assume ordinary people cannot face the financial truth. But involving voters in public finance debates helps to build consensus for reform.

“Today elected representatives take the tough decisions about public finances behind closed doors. In doing so, democratic politicians rely on the advice of financial bureaucrats, who, often, cater to the political needs of the elected government. Politicians rarely ask voters what they think of budget options. They are no better at explaining the reasons for a budget. Explanations are usually no more than vacuous phrases, such as “jobs and growth” or “on the move”. They never explain the difficult trade-offs that go into a budget nor their overall financial reasoning.”

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[freepressjournals]

India's Government Debt: A Beacon of Safety and Prudence

Finance Minister Nirmala Sitharaman has recently highlighted the robust and secure nature of India’s government debt, describing it as “safe and prudent.” In a series of posts on social media platform X (formerly Twitter), Sitharaman emphasized that debt assessments should consider GDP growth, often overlooked in straightforward comparisons of absolute numbers.

Sitharaman contrasted the current government’s fiscal management under Prime Minister Narendra Modi with that of the previous Congress-led United Progressive Alliance (UPA). She noted that despite facing the economic challenges posed by the COVID-19 pandemic, the Modi administration has demonstrated superior fiscal discipline.

Addressing the promises made by Congress in its manifesto, Sitharaman questioned the fiscal feasibility of schemes proposed by Congress leader Rahul Gandhi, such as the ‘Khata Khat’ initiatives. Gandhi had promised to transfer ₹1 lakh to one woman in every poor household if Congress wins the elections. Sitharaman challenged this by asking how Congress plans to finance such schemes, whether through substantial borrowing or increased taxes.

She highlighted that India’s debt-to-GDP ratio stood at 81% in 2022, which is significantly lower than that of several major economies. For comparison, Japan’s debt-to-GDP ratio was 260.1%, Italy’s was 140.5%, the USA’s was 121.3%, France’s was 111.8%, and the UK’s was 101.9%. This comparison underscores India’s relative fiscal stability.

Additionally, Sitharaman pointed out that India’s central government debt is predominantly rupee-denominated, with external borrowings accounting for less than 5% of total debt. This structure minimizes India’s exposure to exchange rate volatility. She recalled that the central government’s debt as a percentage of GDP was reduced from 52.2% in 2013–14 to around 48.9% in 2018–19 through fiscal consolidation efforts. During this period, the fiscal deficit was also reduced from 4.5% in FY14 to 3.4% in FY19.

However, the fiscal deficit surged to 9.2% of GDP in 2020–21 due to the pandemic and necessary government interventions to protect lives and livelihoods, increasing the central government’s debt to 61.4% of GDP. Post-pandemic, the Modi government has adopted a balanced approach to fiscal consolidation while maintaining economic growth, reducing the fiscal deficit to 5.8% in the Revised Estimates for FY24.

In conclusion, Sitharaman’s detailed breakdown underscores the prudent management of India’s government debt, emphasizing the country’s strong fiscal position relative to other major economies. The current administration’s focus on fiscal consolidation and economic growth post-pandemic showcases a commitment to maintaining financial stability while fostering development.

[mexicanistnet]

Mexico's Fourth Transformation Economic Turnaround Story

Mexico's Fourth Transformation brings a 5.6% drop in poverty, 3% annual GDP growth, and a strengthened peso. Despite challenges like inflati

Mexico's Fourth Transformation brings a 5.6% drop in poverty, 3% annual GDP growth, and a strengthened peso. Despite challenges like inflation, remittances thrive at 60 billion dollars. Prudent fiscal management keeps the public debt stable at 44%. A remarkable economic turnaround.

[78945321]

[78945321]

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We strive to understand the specific program needs, assist in program development and in the creation and execution of the implementation plan to achieve both the individual and overall project goals.

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[ijtsrd]

Role of Bilateral Institutions in Capacity Building A Study of EU SRIP in Anambra State, Nigeria

by Grace C. Madubuike | Prof. M. C. Muo "Role of Bilateral Institutions in Capacity Building: A Study of EU-SRIP in Anambra State, Nigeria"

Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021,

URL: https://www.ijtsrd.com/papers/ijtsrd44943.pdf

Paper URL: https://www.ijtsrd.com/management/public-sector-management/44943/role-of-bilateral-institutions-in-capacity-building-a-study-of-eusrip-in-anambra-state-nigeria/grace-c-madubuike

callforpapereconomics, economicsjournal

The study evaluated the role of bilateral institutions in capacity building with a focus on the European Union Support for Reforming Institutions Programme EU SRIP in Anambra State. The study examined relevance of EU SRIP goals, effect of EU SRIP on enhancement of civil servants competence in public finance management and challenges facing implementation of EU SRIP in Anambra State. Data were collected from 330 senior civil servants from two purposively selected ministries Ministries of Finance and Economic Planning and Budget. Mean, frequency counts and tables were used to present and describe collected data. Also hypotheses were tested through the application of t tests at the 0.05 level of significance. Findings revealed that the goals of EU SRIP were in line with critical capacity building needs of Anambra State public finance management that EU SRIP had positive effect on the fiscal management competence enhancement of civil servants. The study therefore, recommends among others a simplification of operational procedures of EU SRIP to make it easier for government official at state and local governments to key in. 

[fiazjohn78-blog]

Meditech Software is an on-premise electronic health record (EHR) solution for medical practices. The EHR platform offers clinical charting for clinical experts working at community and midsized hospitals. This Health IT solution enables providers to keep a check on medication information, lab results, patient's health history, diagnostic imaging, and other patient vitals.

Meditech Software is an on-premise electronic health record (EHR) solution for medical practices. The EHR platform offers clinical charting for clinical experts working at community and midsized hospitals. This Health IT solution enables providers to keep a check on medication information, lab results, patient's health history, diagnostic imaging, and other patient vitals.