Finance ministry curbs spending by depts to help fight Covid
NEW DELHI: The finance ministry on Wednesday imposed spending checks on several departments, ranging from education and home to telecom and power, as part of a cash management exercise due to the “evolving” Covid-19 situation and the Centre’s cash management requirements.
While these departments can at best spend 20% of their annual allocation during July-September, 19 departments, such as health, pharma, fertiliser, rural development, agriculture and farmers’ welfare, road transport and railways will not face any restrictions.
The move came as the latest numbers released by the Controller General of Accounts estimated the Centre’s fiscal deficit at Rs 1.23 lakh crore or 8.2% of the full year target for 2021-22 at the end of May as tax and non-tax revenues gathered strength and spending remained under control. During April-May, revenue receipts were estimated at 19.6% of the target, compared with 2.2% a year ago when the country was in the grip of a strict lockdown.
While the Centre had said that it wants to push spending, the focus is on asset-creating capital expenditure as well as priority sectors such as health and pharma.
Wednesday’s measures indicate that the go nment expects a higher-than-budgeted spend, although its stimulus measures are estimated to have only increased the spending by around Rs 1.5 lakh crore over the budget estimates. But it signals that by checking non-essential spending, the go nment will try to rein in fiscal deficit at 6.8% of GDP.
Modi go nment spends over Rs 4,300 crore in publicity: RTI for 2019
Rs 3,408 crore on the Central Vista redevelopment project in Delhi and Rs 15 crore on a memorial for former chief minister Manohar Parrikar is not worth the waste of money.
does she mean this...Modi govt splurges ₹5,000 crore on publicity, twice the amount spent by UPA in 10 years
Education expenditure curbed to ensure that schools churn out more illiterate modi bhakts.
Curb in education spending but Central Vista has to finish 2022, expns govt priority
How is govt going to pay to families of those who died due to covid? Under reporting deaths?
India is on its way to become an under developed country. Jo 70 saal me bana....woh 7 saal me naash. Ve for vishwaguru and team again to increase speed of decline.
Show off --- as usual ..........If they were earnest and sincere ----- the central vista vanity project should have been postponed/shelved -- last year itself.
This is another example of unscrupulous decision by finance ministry. Why were there no curb on irrelevance infrastructure projects? No curb on fuel price increment. We are absolutely fed up of this go nment. Time has come to immerse this go nment during next Lol Sabha ions.
I am sure that the central vista project is in the exempted category.
stop vista work. that will meet all curbs.
Any cut on allowances to MPs MLAs and ministers?
I see many people nowadays criticizing Modi and his govt, but finally they will ve for him to him as PM again.
Diverting funds for Central Vista indirectly ?
when this Finance Minister is going to be replaced with a person who knows Finance really and tackle issues ?
Good to not include caps for pharma and healthcare. However, India's de t to GDP ratio has increased to almost 90% since the start of the pandemic.
Dr Ahmed Khan
Two TAMILIANS have dest yed India and their names are Nirm Sitharn and S Jaishanker. NIKAMMA Modi must fire both of them if Indian economy has to improve. But Modi is a coward and will not fire them despite Tamilians never voting for BJP.
Govt spent Rs.8400 crores on two luxury boeing dreamliner jets for PM and the presi nt.
Let pheku narendra know not to buy any more planes, spend on useless foreign trips, etc.,.
Curb on spending on education, health depts ??? Seriously!! when were they even spending any single paisa on education or health.