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The Latest Breaking News from Deficit

The next Finance Commission will have a tough task

The forthcoming Finance Commission should focus on two issues, namely the levy of cesses and surcharges and the issue of freebies

The Hindu

Revival of monsoon likely after dissipation of cyclone

The southwest monsoon, which made a weak onset, still remains sluggish in the State with the majority of metrological subdivisions recording over 60% deficit rainfall.

The Hindu

Andhra Pradesh govt. using revenue deficit grant by Centre to clear dues of small contractors, says YSRCP leader

The Andhra Pradesh government is utilising ₹10,461 crore, which was released by the Union government under the revenue deficit grant fund for the 2014-15 financial year, to clear all small bills of contractors below ₹5 lakh as per the A.P. Reorganisation Act, 2014, a senior leader of the ruling YSR…

The Hindu

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Is Now the Time for Platinum to Shine?

The global platinum market is expected to rack up its largest deficit since records began in the 1970s, as supply falters in South Africa. Meanwhile, global platinum demand is forecast to surge 28% this year to 8.2 million ounces. The last time 12%+ of demand could not be met by…

Barchart

Kenya's first budget under Ruto - three experts review its key points

President William Ruto’s first budget comes to the national assembly on 15 June against the backdrop of massive public debt and public disquiet over high inflation. The KSh3.663 trillion (US$26.35 billion) plan sets out priority areas of an administration that campaigned on the platform of empowering the informal sector. Many…

The Conversation

Nuggets’ Michael Malone Warns Heat Will Be ‘Desperate,’ ‘Hungry’ in NBA Finals Game 5

The Nuggets coach knows exactly what it takes to come back from a 3–1 deficit.

Sports Illustrated

ADHD: inattention and hyperactivity have been the focus of research – but emotional problems may be the missing link

Attention deficit hyperactivity disorder (ADHD) is one of the most common mental health disorders in children, affecting 7.2% of people under the age of 18 worldwide. Many of these children will still have ADHD in adolescence and adulthood.

The Conversation

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Wicket off a no-ball and three dropped catches – Australia give India hope

India are 260 for six at lunch, a deficit of 209.

The Independent UK

Company behind Newcastle's Point Blank shooting range and cocktail bar is put into liquidation

Trigger Happy UK, which trades as Point Blank in Newcastle, Manchester and Liverpool, is being liquidated with a deficit of more than £600,000

Birmingham Post

Bridging the growing trust deficit in Manipur

Military and administrative steps may be immediate options to restore peace in Manipur, but care should be taken to undo the damaging steps that have created the trust deficit

The Hindu

Larry Summers Urges Tax Hike On Top 1% As He Sees Economy Languishing In ‘New And Dangerous Territory’

Former Treasury Secretary Larry Summers took to Twitter on Tuesday to express his worst fears concerning the economy

Zenger

The Debt Ceiling Deal Does Not Go Nearly Far Enough

Projections of huge savings are making the rounds. Nothing could be further from the truth.

Reason

Raichur district sets 5.41 lakh hectares sowing target

Despite the deficit rainfall during the pre-monsoon season this year, agriculture activities are going on in full swing in Raichur district. Across the vast rain-fed areas, farmers are preparing their fields for sowing by making use of the little precipitation that the district received in the recent past.

The Hindu

Woking council declares bankruptcy with £1.2bn deficit

Previous Tory leadership embarked on risky investment spree involving hotels and skyscrapers

The Guardian - UK

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Reuters

Czech government will try to meet 2023 budget deficit target, PM says

The Czech government will try to meet its 2023 budget deficit target of 295 billion crowns ($13.4 billion) although the gap almost expanded to that level already in May, Prime Minister Petr Fiala said on Sunday.

The Hindu

Andhra Pradesh: Development has come to a halt under YSRCP government, says Chandrababu Naidu

The Telugu Desam Party government, during its term, had taken all possible measures to take Andhra Pradesh on the path to progress despite deficit budget, says party national president Chandrababu Naidu

The Hindu

Centre has sanctioned maximum financial assistance to Andhra Pradesh to help it overcome the bifurcation blues, says G.V.L. Narasimha Rao

Besides releasing ₹10,461 crore towards revenue deficit grant recently, the Union government has decided to disburse ₹12,911 crore for the construction of the Polavaram irrigation project, says BJP Rajya Sabha member G.V.L. Narasimha Rao

The Guardian - UK

British universities can no longer financially depend on foreign students. They must reform to survive

With spiralling deficits and little prospect of government support, higher education’s only long-term hope lies in radical change, says the Guardian columnist Simon Jenkins

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Zenger

Former Treasury Secretary Summers Criticizes IRS Provisions In Debt Ceiling Agreement

Summers opposes IRS funding cuts in debt ceiling deal, warns of future deficits and tax cheats' advantage.

The Guardian - AU

NSW vice-chancellors get big pay bumps despite universities plunging into the red

Critics say million-dollar salaries are ‘wildly out of touch’ as annual reports show some academic chiefs got $200,000 raise last year

WEKU

CBO says debt ceiling deal would cut deficits by $1.5 trillion over the next decade

Congressional forecasters say the debt ceiling deal struck by President Biden and House Speaker Kevin McCarthy over the weekend would reduce deficits by about $1.5 trillion over the next decade.

Chicago Sun-Times

‘Disconnected’ Sky routed by Dream on the road

The Sky trailed by 15 points at the half and saw their deficit balloon to as many as 22 in the fourth quarter before falling 83-65 for their second loss of the season.

Bangkok Post

New government urged to avoid excessive spending

The stock market will be gripped by panic if the new government is "addicted to budget deficits", raising doubts about fiscal sustainability, says Kiatnakin Phatra Securities (KKP).

USA Today Sports Media Group

Reacting to the Boston Celtics’ 103-84 blowout in Game 7 of the East finals vs. the Miami Heat

After miraculously walking down a 3-0 series deficit to tie things up 3-3, the Boston Celtics ultimately collapsed under pressure.

The Independent UK

Debt limit deal is in place, but budget deficit is still a multi-decade challenge for US government

Even with new spending restraints included in the congressional debt limit deal, the U.S. government’s deficits are still on course to keep climbing to record levels over the next few decades

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