New Delhi: Finance Minister Nirmala Sitharaman told Parliament on Tuesday that part of Capital expenditure The total expenditure of the center has increased during the tenure of Modi government, while the ratio subsidy Spending on food, fuel and fertilisers has declined, reversing the trend seen during the UPA regime.
According to data shared in the Rajya Sabha, the share of capital expenditure in total expenditure nearly halved from 23% during 2004-05, the beginning of the UPA tenure, to 12% in 2013-14. 1. Estimated Rs 1 lakh crore capex 2004-05 includes repayment of loans to National Small Savings Fund,
Responding to a question by Sushil Modi in Rajya Sabha, Sitharaman said that during NDA-II, the share of capital expenditure is projected to increase to 19% of budget level expenditure for the current fiscal, while the share of subsidy is expected to increase from 2014-15. This year it has fallen from 15% to an estimated 8%. However, the estimate for the current year is expected to see an upward revision as subsidies for fertilizers and food are expected to increase in view of rising global prices and the government’s decision to extend free foodgrains to cushion the farmers’ shock. plan by september
During the past few years, the share of major subsidies has declined partly due to rationalization of subsidies, including better targeting as well as elimination of dole for auto fuels and LPG. Capex has been a major thrust for the government to revive the economy as it is banking on high demand for steel, cement and other inputs to create jobs and consequently increase new capacity by the corporate sector.
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