Current AffairsIndia

Govt firm about growth rate, financial consolidation, says Nirmala

New Delhi, Jul 10 (GCCurrentAffairs) Finance Minister Nirmala Sitharaman on Wednesday said the Modi Government 2.0 will firmly stand by its commitment to achieve 5 Trillion USD economy and take steps to augment investment including from overseas sources.

Replying to over 15-hour long debate stretching over three days, the Finance Minister told Lok Sabha that the government expenditures in 2019-20 will be Rs 27,86,349 Crore and this is much higher than the revised budget estimates of 2019-20.

She said the government will continue with the determined efforts to achieve financial consolidation and ensure adequate resource mobilisation and there will be no compromise on public expenditures.

“Promotion of economic growth will be top of our priority,” she said but added that farmers’ interest will also be safe guarded.

The share of the states including under various tax measures would also go up to over Rs 13,29,000 crore and this “entails an increase” of Rs 82,000 crore as ear-marked in the revised estimate of 2018-19.

The Budget targets good cycle of investment, more jobs, ‘Make in India’, infrastructure development, the Minister said.

She said ‘the Budget reflects government’s commitment to substantially boost education, health and infrastructure sectors… achieved fiscal consolidation without compromising on public expenditure.’

Source
Via UNI-India

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