Industry & Economy
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Budget
Gross budgetary support increased
The Eleventh Plan has started on a note of robust growth. Never before did we start a Plan with a first year growth rate of 8.7 per cent. Government regards the second year of the Plan as extremely critical to the success of the Plan. 2008-09 should be a year of consolidation; of securing the ongoing programmes on firm financial foundations; of close monitoring of implementation and enforcing accountability; and of measuring the outcomes in terms of the targets achieved as
well as their quality.
The Plan documents assumed that the Gross Budgetary Support (GBS) in the second year would be Rs 2,28,725 crore. In our view, that will not be enough. Hence, I propose to increase the GBS to Rs 2,43,386 crore, which will represent an increase of Rs 38,286 crore over the allocation in 2007-08. Out of the GBS, the allocation for the Central Plan will be Rs 179,954 crore, marking an increase of 16 per cent over 2007-08. Let me assure the House that all ongoing programmes will receive ample funds.
For Bharat Nirman, I propose to provide Rs 31,280 crore [including the North Eastern Region (NER) component] as against Rs 24,603 crore in 2007-08.
Honourable Members will note that the allocations to various sectors and schemes are generous. I hasten to add that more can be done and more will be done subject, however, to one condition: the condition of performance. In the last Budget, I had announced a Plan ’B’ and I was able to provide additional Plan funds of Rs 8,365 crore in cash through two supplementaries - and a third one will follow shortly.
This year too, I intend to mobilise additional resources to the tune of Rs 10,000 crore to be used for Plan capital expenditure. This money - under Plan ‘B’ - will be available to ministries/departments of the Central Government and to State Governments that achieve the physical and quality targets set under different Plan schemes.
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