Leaders from the European Union’s 27 member states will meet in Brussels on Thursday to find ways to succour Ukraine and to rethink some of its own security arrangements. Europe is hastily adjusting its thinking on defence as American policy under President Donald Trump looks ever-less predictable. A plan will be presented for the EU to help member states borrow from a fund of €150 billion ($161 billion) to spend on defence, some of which would be used to boost Ukraine’s war effort. EU fiscal rules that constrain spending also look likely to be relaxed so that national governments can splurge up to 1.5% of GDP more on defence.
Tag: Fiscal
Special Packages: Unpacking India’s Fiscal Federalism
Earlier this year, the chief ministers of Bihar and Andhra Pradesh had demanded special financial packages for their respective states from the Centre. Special Packages for both states were announced in the Union Budget 2024-25. The issues catered in the package ranged from subjects like Irrigation, Flood Mitigation, Purvodaya: Vikas Bhi, Virasat Bhi, Airports, Medical Colleges, Sports Infrastructure, Highways, Industrial Corridors and Tourism development. Special Packages refer to the support provided to states facing geographical and socio-economic challenges, offering them additional financial assistance and other benefits.