{"id":34563,"date":"2018-10-31T11:55:27","date_gmt":"2018-10-31T06:25:27","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=34563"},"modified":"2018-10-31T11:55:27","modified_gmt":"2018-10-31T06:25:27","slug":"nitis-kumar-bats-for-fiscal-stimulus","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/nitis-kumar-bats-for-fiscal-stimulus\/","title":{"rendered":"NITI\u2019s Kumar bats for fiscal stimulus:\u00a0"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/business\/Economy\/nitis-kumar-bats-for-fiscal-stimulus\/article19872229.ece\"><span style=\"font-weight: 400;\">NITI\u2019s Kumar bats for fiscal stimulus<\/span><\/a><span style=\"font-weight: 400;\">:\u00a0<\/span><\/p>\n<p><b>Context <\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">NITI Aayog Vice Chairman Rajiv Kumar has pitched for fiscal stimulus to boost growth, with a rider that additional expenditure should be used only for increasing productivity and capital expenditure.<\/span><\/li>\n<\/ul>\n<p><b>About NITI AAYOG<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The National Institution for Transforming India, also called NITI Aayog, was formed via a resolution of the Union Cabinet on January 1, 2015 by replacing erstwhile planning commission.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">NITI Aayog is the premier policy \u2018Think Tank\u2019 of the Government of India, providing both directional and policy inputs.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">While designing strategic and long term policies and programmes for the Government of India, NITI Aayog also provides relevant technical advice to the Centre and States.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">At the core of NITI Aayog\u2019s creation are two hubs \u2013 Team India Hub and the Knowledge and Innovation Hub. The Team India Hub leads the engagement of states with the Central government, while the Knowledge and Innovation Hub builds NITI\u2019s think-tank capabilities. These hubs reflect the two key tasks of the Aayog.<\/span><\/li>\n<\/ul>\n<p><b>What is fiscal stimulus and it&#8217;s effects?<\/b><span style=\"font-weight: 400;\">,<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A \u2018stimulus\u2019 is an attempt by policymakers to kickstart a sluggish economy through a package of measures. A fiscal stimulus entails the <\/span><b>Government spending <\/b><span style=\"font-weight: 400;\">more from its own coffers or slashing tax rates(in short an <\/span><b>expansionary fiscal policy)<\/b><span style=\"font-weight: 400;\"> to put more money in the hands of consumers.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It will increase liquidity in the market and hence, increases the purchasing power, boosts consumption and leads to inflation<\/span><\/li>\n<\/ul>\n<p><b>About Economic advisory council<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Economic Advisory Council to the Prime Minister (PMEAC) is a non-constitutional, non-permanent and independent body constituted to provide a sounding board for inculcating awareness in Government on the different point of view on key economic issues. <\/span><\/li>\n<\/ul>\n<p><b>Function of EAC<\/b><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Analyzing any issue, economic or otherwise, referred to it by the Prime Minister and advising him thereon;<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Addressing issues of macroeconomic<\/b><span style=\"font-weight: 400;\"> importance and presenting views thereon to the Prime Minister. This could be either be suo-moto or on a reference from the Prime Minister or anyone else;<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Submitting periodic reports<\/b><span style=\"font-weight: 400;\"> to the Prime Minister on macroeconomic developments and issues with implications for economic policy;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Attending to any other task as may be desired by the Prime Minister from time to time.<\/span><\/li>\n<\/ol>\n<p><b>What is fiscal consolidation,<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Fiscal consolidation is a process where government\u2019s fiscal health is getting improved and is indicated by reduced fiscal deficit. I<\/span><b>mproved tax revenue realization and better aligned expenditure<\/b><span style=\"font-weight: 400;\"> are the components of fiscal consolidation as the fiscal deficit reaches at a manageable level.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>NITI\u2019s Kumar bats for fiscal stimulus:\u00a0 Context NITI Aayog Vice Chairman Rajiv Kumar has pitched for fiscal stimulus to boost growth, with a rider that additional expenditure should be used only for increasing productivity and capital expenditure. About NITI AAYOG The National Institution for Transforming India, also called NITI Aayog, was formed via a resolution&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/nitis-kumar-bats-for-fiscal-stimulus\/\">Continue reading <span class=\"screen-reader-text\">NITI\u2019s Kumar bats for fiscal stimulus:\u00a0<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-34563","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704922052},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=34563"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34563\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=34563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=34563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=34563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}