Scheme is aimed at boosting capital expenditure by states facing a difficult financial crunch due to the shortfall in tax revenue in the wake of COVID-19 pandemic

The highest amount was released to Kerala at Rs 1,277 crore, followed by Rs 952 crore to Himachal Pradesh and Rs 638 crore to Punjab

Report contains recommendations pertaining to five financial years, 2021-22 to 2025-26; it'll be submitted to President, Prime Minister on November 9

Sitharaman clarified that it is not certain whether it will be done in public or in the Parliament. She also ruled out giving any tentative deadline for giving an official GDP estimate for the current year

Nirmala Sitharman announced a Rs 12,000 crore interest-free 50-year loan to states for spending on capital projects in a bid to boost economy

Economists suggested the stimulus to be 2% of the GDP and should be shared between central and state governments so that the burden is evenly distributed between them and benefits are also shared in the same proportion

This is fourth equated-monthly instalment of post-devolution revenue deficit grant; funds will help states in taking preventive steps towards spread of COVID-19

To get to per capita income levels of developed countries, India needs to grow at 8 to 9 per cent per annum for 22 years; that is the kind of challenge we have in this country, said former RBI governor C Rangarajan

Stating that global economic depression will continue to cast shadow on growth prospects next fiscal, Singh said the economic expansion in 2022-23 would determine whether or not the initiatives to revive growth are sustainable

The world bank has shared gaps in India's health system, experienced during the coronavirus pandemic this year. The bank explained fault lines in Indian healthcare during its presentation to the 15th Finance Commission. The global bank however, acknowledged the progress made in the Indian health system over the years, but said that there are large, persistent health gaps among Indian states, which got exposed by the pandemic. Watch the video for more.Also Read: Alleviation of coronavirus pandemic unlikely: WHO

Institutional cafeterias in the new normal would also have a high level of digital intervention. Leading institutional catering companies such as Sodexo, Elior and HungerBox are investing heavily in technology in order to be able to adhere to the COVID-19 norms of social distancing and being contactless

The Council members observed that after they met the Commission in April, the lockdown was extended and since then restrictions were being lifted in a phased manner, resulting in the gradual resumption of economic activities

India likely to witness second wave of coronavirus; in high-risk group: NomuraIndia's decision to unlock the world's longest coronavirus-induced lockdown in a phased-manner might turn detrimental in the upcoming days. According to Japanese financial research firm, Nomura, India has been listed among 15 countries where relaxing the lockdown could result in an increase in the cases of coronavirus infection more rapidly. And, in extreme cases, it could lead to the situation of re-loc...

This was the third equated-monthly installment of the post devolution revenue deficit grant as recommended by the 15th Finance Commission

In case of delay, states will need to release the same amount with interest as per the effective rate of interest on market borrowings or state department loans for the previous year. The basic grants are untied and can be used by local bodies for location-specific needs, except for salary or other expenditure

Taking a swipe at the finance ministry, Abhijit Sen says that an idea like this can come from the finance ministry because they (people in the finance ministry) don't have an idea what happens on the ground, they only look at spreadsheet

The government released Rs 6,195.08 crore to 14 states as the second equated monthly installment of the post devolution revenue deficit grant as recommended by the 15th Finance Commission

Despite all the brouhaha around PM CARES Fund, it is states that are at the forefront of funding disaster relief and rehabilitation

The Finance Commission suggested the projections of real GDP growth made before March 2020 needed to be relooked into entirely, and, revised downwards considerably

Live updates on coronavirus in India latest news: All members of the Advisory Council of the commission were unanimous to suggest that the projections of real GDP growth made before March 2020 need to be relooked into entirely, and, revised downwards considerably