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Minerva Punjab to get rematch against Real Kashmir: AIFF

first_img Press Trust of India New DelhiMarch 5, 2019UPDATED: March 5, 2019 11:47 IST AIFF are awaiting Real Kashmir’s reply for rematch against Minerva Punjab (@ILeagueOfficial Photo)HIGHLIGHTSMinerva Punjab and Real Kashmir were slated to meet in Srinagar on February 18The I-League encounter did not take place after Minerva refused to travelReal Kashmir were awarded all three points as Minerva gave a walkoverDefending champions Minerva Punjab FC, who pulled out of their I-League clash against Real Kashmir in Srinagar citing security concerns, will get a re-match against the debutants, the All India Football Federation (AIFF) has decided.The game was originally scheduled for February 18 but did not take place after Minerva refused to travel to Srinagar, insisting that their foreign players had been advised against it by their respective embassies in the aftermath of the Pulwama terror attack.Minerva said the AIFF failed to give written security assurances that were sought by the club after the terror attack which killed more than 40 CRPF personnel.”The AIFF Emergency Committee on Monday decided that there will be a re-match of Real Kashmir and Minerva Punjab but the date and venue is yet to be decided,” I-League CEO Sunando Dhar told PTI.”We have communicated this to Real Kashmir (since they are the host team) and we will take a decision (on the venue and date) after they give a reply. The plan is to have the match before the Super Cup preliminary round starts (on March 15).”I don’t want to say anything on date and venue now,” he added.Real Kashmir had turned up for the game last month, asserting that all the security arrangements were in place and they be awarded the three points after Minerva’s no-show.Minerva went on to argue that their pullout could not be considered a forfeiture as it was security grounds. The club refused to forego the three points, taking the matter to the Delhi High Court.advertisementThe court asked Minerva to go back to the AIFF I-League Committee for a resolution. The decision to have a re-match was, however, taken by the AIFF’s Emergency Committee.The League Committee had referred the matter to emergency panel, which comprises the AIFF President, five vice-Presidents and the Secretary General.Asked if there was still a chance of the match being held in Srinagar, Dhar said, “Let us wait for what Real Kashmir wants, in their reply.”Both the clubs are already out of title contention.Also Read | Delhi High Court rejects Minerva Punjab plea against AIFF over Real Kashmir game in SrinagarAlso Read | Exclusive: Secure or not? Minerva Punjab, Real Kashmir in war of words over Srinagar matchAlso Read | Disappointing not to play the game vs Minerva: Real Kashmir coach David RobertsonFor sports news, updates, live scores and cricket fixtures, log on to indiatoday.in/sports. Like us on Facebook or follow us on Twitter for Sports news, scores and updates.Get real-time alerts and all the news on your phone with the all-new India Today app. Download from Post your comment Do You Like This Story? Awesome! Now share the story Too bad. Tell us what you didn’t like in the comments Posted byPTI Tags :Follow i-leagueFollow AIFFFollow Minerva PunjabFollow Real KashmirFollow SrinagarFollow rematch Minerva Punjab to get rematch against Real Kashmir: AIFFMinerva Punjab and Real Kashmir were slated to meet in Srinagar on February 18 but the I-League encounter did not take place after Minerva refused to travel to Srinagar with Real Kashmir being awarded three pointsadvertisement Nextlast_img read more

Liberal deficits could hit 25 billion and still honour their fiscal anchor

Prime Minister Justin Trudeau answers a question during question period in the House of Commons on Parliament Hill in Ottawa, on Wednesday, Dec. 9, 2015. Now that the federal Liberals have shied away from their vow to keep annual deficits under $10 billion, they’ve latched on to another fiscal target — and this one will be much easier to meet.THE CANADIAN PRESS/Adrian Wyld Liberal deficits could hit $25 billion and still honour their ‘fiscal anchor’ by Andy Blatchford, The Canadian Press Posted Dec 13, 2015 12:22 pm MDT Last Updated Dec 13, 2015 at 1:20 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email OTTAWA – Now that the federal Liberals have shied away from their vow to keep annual deficits under $10 billion, they’ve latched on to another fiscal target — and this one will be much easier to meet.The new government is suddenly talking about the debt-to-GDP ratio, promising repeatedly to keep it on a downward track every year until the next election.The government calculates its debt-to-GDP ratio by dividing total federal debt by the overall size of the economy, as measured by nominal GDP.It represents a government’s capacity to pay back debt — and focusing on it gives politicians more spending flexibility.By targeting debt-to-GDP, the Liberals could instead be prepared to run annual deficits of up to $25 billion in the coming years and still lower the ratio — as long as the economy grows at a decent pace, economists say.“The government does have a fair bit of room if what they’re trying to do is just see the debt-to-GDP ratio go down,” said Mike Moffatt, who teaches economics at the University of Western Ontario’s Ivey Business School.The adoption of the debt-to-GDP ratio as a “fiscal anchor” is not new. It was mentioned in the Liberal election platform as one of the ways to keep spending under control. The campaign rhetoric, however, largely focused on the $10-billion annual deficit.No longer.With uncosted election promises piling up on top of unforeseen shortfalls in the underlying fiscal plan, Prime Minister Justin Trudeau has emphasized the more-reachable fiscal anchor in recent days.“We will continue to decrease (the debt-to-GDP ratio) every single year because that’s important for the fiscal health of our country,” Trudeau said Wednesday, after casting further doubt on the $10-billion annual deficit target because of economic challenges.“We always targeted modest deficits, we had hoped it would be around $10 billion — we will see if we will be able to hold at that level.”Plain old math dictates the ratio can continue to fall even if the public books slide into the red — at least to a point.That’s because even if the federal debt gets fatter, the ratio will edge downwards if the economy is growing faster than the debt.Still, in an economy battered by low commodity prices, the debt-to-GDP promise doesn’t exactly look like a slam dunk, either.Earlier this month, projections by the parliamentary budget office suggested the government could find itself running annual deficits up to $15 billion once the Liberals’ costed, big-ticket election promises are factored in. On top of that, the party has also made several uncosted vows.Then, this week, the Liberals conceded their new tax package will, in fact, drain more than $1 billion net from the treasury each year.At the same time, economic growth is sluggish.When considering the forecasts, Scott Clark — a former deputy minister of Finance — believes the Liberals will already be close to the threshold that would start ratcheting up the debt-to-GDP.“Then you’ve got a serious problem because then no one’s going to believe you,” Clark said of the danger of not living up to the goal.“Your credibility will go straight out the window because if you’re going to have an anchor … you have to live up to it. As soon as you break that, the financial markets will come down on you like a ton of bricks.”The Liberal platform, which helped carry the party to victory in October, also contained a second fiscal anchor: balancing the federal books by the fourth year of its mandate.But experts believe balancing the 2019-20 budget poses a big hurdle unless the government cuts spending or hikes taxes — or both — to overcome the weaker-than-expected economy and the pricey basket of electoral promises.Many experts like Clark argue that lowering the debt-to-GDP ratio is a more-appropriate — and achievable — commitment for a government than a balanced-budget anchor.The government projects the ratio will gradually fall each year from 31.1 per cent in 2015-16 to 25.2 per cent in 2020-21.But Don Drummond, a former senior Finance Department bureaucrat, questioned the importance of striving to drop an already-low ratio that’s much lower than it’s been in the past.“Who knows whether it even needs to be brought down?” said Drummond, who was assistant deputy minister of fiscal policy in the 1990s when the ratio was close to 70 per cent.“There’s nothing in the economic literature that drives you towards the notion of an optimal debt-to-GDP ratio…I think it’s a second choice on their part when they can’t produce the deficit target that they want. This is kind of a defensive mechanism.”Economist Moffatt, who stress-tested the fiscal numbers in the Liberals’ election platform, said if nominal GDP growth returned to a more-normal level in the coming years — of about 3.5 or four per cent — then the government could probably run deficits up to $25 billion without pushing the ratio up.For 2015, the government only expects nominal GDP to grow by 0.9 per cent largely due to the squeeze of low oil prices, according to its fall fiscal update.That projection, an average of private-sector forecasts taken in October, also called for a turnaround of 4.1 per cent growth in 2016, 4.6 in 2017 and 4.4 in 2018.Follow @AndyBlatchford on Twitter read more