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"Fiscal Deficit At 9.5%, We Have Spent, We Have Spent And We Have Spent": FM Nirmala Sitharaman
Writer: Devyani Madaik
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India, 1 Feb 2021 1:41 PM GMT
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The minister also proposed an outlay of ₹50,000 crores for the National Research Foundation for five years. The spending is aimed to strengthen the research ecosystem of the country.
After presenting the Union Budget 2021-22, Finance Minister Nirmala Sitharaman on Monday, February 1, said that the government has decided to increase spending on the infrastructure and healthcare sector
There will be an increased expenditure on infrastructure includes roads, power generation, bridges, ports and so forth. Highlighting the country's situation due to the coronavirus pandemic, the minister said that spending on the healthcare sector would focus on bringing in better health management, to handle the crisis more efficiently, Hindustan Times reported.
While addressing the post-budget press conference, Sitharaman asserted that the government has spent immensely and informed that the fiscal deficit, which was at 3.5 per cent in February 2020, has increased to 9.5 per cent of the GDP.
"So we have spent, we have spent, and we have spent. At the same time, we have given a clear glide path for deficit management," she said.
Sitharaman said the ministry had taken progressive steps. Consumers would not have to pay more on any product due to agriculture cess, she added.
She also proposed an outlay of ₹ 50,000 crores for the National Research Foundation for five years. The spending is aimed to strengthen the research ecosystem of the country.
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