Vietnam's Communist Party chief, To Lam, emphasized the urgent need for reform in the country's political system during a government announcement on December 31, 2024. He highlighted the necessity for innovative leadership methods as officials navigate the most significant bureaucratic overhaul in decades.
In India, the fiscal deficit for the period of April to November 2024 reached 8.47 trillion rupees (approximately $98.90 billion), accounting for 52.5% of the government's estimated total for the financial year. Government data released on the same day indicated that net tax receipts for the first eight months were at 14.43 trillion rupees, which is 56% of the annual target, showing a slight increase compared to the previous year.
Total government expenditure during this period was reported at 27.41 trillion rupees, or about 57% of the annual goal. The capital expenditure, essential for infrastructure development, stood at 5.13 trillion rupees, representing 46.2% of the annual target, which is lower than the previous year’s spending for the same timeframe. Economists predict a narrower fiscal deficit than the targeted 4.9% of GDP due to reduced government spending, largely influenced by the national elections.