Comments
Arun Jaitley’s second full-year Budget has come on expected lines — a powerful thrust on increased allocation to infrastructure, agriculture and rural development with a clear inclusive agenda. What is remarkable is the dexterity with which the FM has managed to hold on to the long-term FRBM target of 3.5 per cent fiscal deficit in FY17.
The 9 pillars outlined by the Finance Minister at the beginning of his Budget speech clearly outlined the government’s priorities. With a 15.3 per cent increase in Plan Expenditure and outlay of ₹2.21 lakh crore for infrastructure, the intent is apparent: using public investment in infrastructure to boost economic growth. With a “quantum jump” in funds to ₹2.87 lakh crore for village panchayats, enhanced credit of ₹9 lakh crore to the farm sector and interest subvention and a clear boost to irrigation and crop insurance, the Budget stands out for its pro-agrarian and pro-rural intent.
While a ₹38,500 crore outlay for MNREGA is the highest ever for the rural employment scheme, the ₹9,000 crore outlay for Swachch Bharat Abhiyan highlights the government’s commitment to one of its flagship schemes.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.