Spending Cuts

Obama dials down the budget blame in new tack on deficit fight

Turning away from the sharp rhetoric he has used in recent weeks to blame Republicans for $85 billion in government spending cuts that took effect March 1, Obama this week highlighted how he is working with lawmakers in Congress.

Govt sitting on surplus cash, may borrow less in new fiscal

New Delhi has built up a cash surplus of about Rs 80000 crore as a result of Finance Minister P. Chidambaram's deep spending cuts to keep the fiscal deficit down at 5.3 percent of gross domestic product this fiscal year.

Fiscal cliff: Obama raises taxes for wealthiest Americans

Supporters of the bill in both parties expressed regret that the bill was narrowly drawn, and fell far short of a sweeping plan that combined tax changes and spending cuts to reduce federal deficits.

Obama's re-election will boost $, pressure the rupee

The Obama victory will keep the US dollar strong. That will keep the rupee under pressure

Washington, Wall St misreading each other as fiscal cliff nears

One of the ugliest examples of this was in September 2008, not two weeks after Lehman Brothers collapsed, when the House rejected a $700 bn financial bailout plan. Markets plunged; the shock was enough to galvanize lawmakers to pass a revised plan.

Govt may announce spending cuts to keep fiscal deficit under check

The government could announce spending cuts for the 2013 fiscal year on Saturday, although the size of the cuts was not immediately clear, two government sources said.

PM Modi's ambitious selloff agenda stalls, expect more spending cuts

Prime Minister Narendra Modi's ambitious selloff agenda has met resistance from labour unions and faces delays due to bureaucratic upheaval caused by a purge of the top team at the finance ministry that handles asset sales.<br />

Jindal, Haley lead charge against Obama over spending cuts

"The president needs to stop campaigning, stop trying to scare the American people, stop trying to scare states," said Bobby Jindal.

Budget 2013: Colleagues oppose FM's spending cut plans

The latest to join the bandwagon of protesting ministers is Planning Commission head Montek Singh Ahluwalia since the burden of fiscal consolidation has largely fallen on plan expenditure, which is likely to be trimmed by around Rs 1 lakh crore in financial year 2013.

Budget 2013: FM plans spending cuts of Rs 1.1 lakh cr to reign in deficit

However Chidambaram's cuts on welfare and defence mainly affect capital investment and he has avoided attacking government wage bills and subsidy spending known as non-plan expenditure.