Finance Minister responds to debate on Union Budget

< 1 - minutes read |

The Finance Minister Nirmala Sitharaman confirms government’s commitment towards the path of fiscal consolidation

KRC TIMES Desk

Replying to a debate on the Union Budget 2019-20, Sitharaman said that, it has set the target to keep fiscal deficit at 3.3 percent against what was envisaged in the interim budget of 3.4 percent without compromising on the requirements of public expenditure. 

She said the total expenditure in the Budget is to the tune of 27 lakh 87 thousand 349 crore rupees which is an increase of over 3 lakh 44 thousand crore rupees than the budget estimates of 2018-19. 

The current budget reflects the commitment of the government to substantially boost investment in agriculture, social sector, particularly in education and health. 

In the 15th Finance Commission she said, it is expected to give its report in October and November and the government will take the recommendations of the Commission on board in the next budget. 

The finance minister said, projections made in the budget are realistic and adequately provide items for expenditures such as defence, pensions and salaries, internal security and others. 

Sitharaman said the necessary resource mobilisations from tax and non-tax sources have also been envisaged to fully finance this expenditure commitment.

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