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Government will spend 12 to 14 percent more amidst the challenge of bringing economy back on track

Posted on January 28, 2021January 28, 2021 by Nidhi Malviya

Fighting the Corona infection is a huge challenge before the government to bring the economy back on track. Therefore, the government wants to increase the provision of spending in Budget 2021. Meanwhile, news has come that the government wants to increase the budget provisions between 12 to 14 percent in this budget.

Sources in the government say that the government wants to increase the budget provisions by 12 to 14 percent in the financial year 2021-22. The government intends to increase budget allocation in the health, infrastructure and education sectors.

Government can fix schemes
Sources say that in the budget the estimate of fiscal deficit can be increased slightly so that the scope of spending provisions from the government can be further increased. In the budget, those centrally supported schemes can be scrapped or improved, whose utility has been lost.

In lieu of these schemes, some schemes to promote public investment can be started. The budget of the government’s expenditure in the current financial year is Rs 30.42 lakh crore. But despite the need to increase spending due to Covid, there is no scope for much increase in it.

Fiscal deficit may increase
The government has set a fiscal deficit target of 3.5 per cent. It can go up from 6.5 to 7.1 percent in FY 2021-22. Therefore, the budget of FY 2021-22 can be more than Rs. 35 lakh crore.

An official associated with the budget preparation said that the government has to spend, not spend money. The government can spend this way so that the results can be achieved according to the target.

Nidhi Malviya

Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.

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