Aditi Nayar
Aditi Nayar is principal economist, ICRA Limited.
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An uncertain transition: As GST compensation ends, state governments need to be provided certainty of revenues
Aditi Nayar writes: If the government decides to step-up tax devolution to the states in the near term, it may reduce the size of state borrowings in the second quarter and embolden states to ringfence their capital spending.
Mon, Jul 11, 2022
Equating states’ off-budget borrowings with their debt will clarify extent of indebtedness
Aditi Nayar writes: Centre's decision will ensure fiscal transparency in states' finances, an area that has been cloaked in opacity.
Wed, May 11, 2022
Making the most of greater fiscal space
Aditi Nayar writes: Healthy tax revenues and disinvestment proceeds will allow the government to absorb the risks related to increased spending this year.
Wed, Apr 20, 2022
Post-pandemic spending for recovery
Aditi Nayar writes: Centre’s plans for investment-led growth will hinge on ways in which states can complement it
Tue, Mar 08, 2022
Growing divergence in central and state-level fiscal trends
🔴 Aditi Nayar writes: State revenues have grown at a slower pace, leading to a widening of the deficit
Tue, Dec 28, 2021
Understanding post-second wave fiscal trends
Aditi Nayar writes: Formalisation of economy expands tax base, boosts Centre’s coffers, but states might suffer with discontinuation of GST compensation.
Fri, Nov 05, 2021
How soon can GDP reach pre-Covid level?
Aditi Nayar writes: It is unlikely to do so in the coming quarter, although the uptick in vaccinations could impart a positive momentum to the economy.
Tue, Sep 14, 2021
Centre must step up cash flow to states
Aditi Nayar writes: By increasing tax devolution, Centre can help states tide over another uncertain year and make spending comfortable for them
Thu, Jul 08, 2021
Resource crunch in states will follow Covid second wave
Fiscal concerns will be fanned by spike in infections and the associated healthcare costs
Mon, May 31, 2021
Fifteenth Finance Commission has increased proportion of grants conditional on reforms by states
The question is whether this will force the states to move on both the power sector reforms, which have proven challenging in the past, and the municipal reforms, so that their resource availability may be enhanced.
Tue, Feb 23, 2021
Amid the uncertainty, this year will see a sobering expansion in fiscal deficit
However, amidst all these concerns, yields on government security appear remarkably sanguine, as if they are patiently waiting for the central bank to absorb the extra sovereign borrowings in the primary or secondary market.
Tue, Jul 21, 2020
The stress in state finances
Lower tax devolution, delays in GST compensation are potential risks
Tue, Jan 28, 2020
Subdued GST collections, lower tax devolution will impact state finances, pose macro risks
To avoid a substantial fiscal slippage at the state government level, a sizeable expenditure reduction or deferral is likely to be required, given that the borrowing limit set by the central government acts as a soft constraint to the size of the states’ fiscal deficits.
Fri, Oct 04, 2019