![]() ![]() The planned allocation for this year is Rs 2,38,2o4 crore, down from last year’s revised estimate of Rs 2,43,417 crore. This despite the fact that the revised estimate for FY’23 was at Rs 89,400 crore, up from the budget estimate of Rs 73,000 crore.Īnother area that has seen a decrease in allotment based on last year’s expenditure (though not on last year’s budget estimate) is rural development. In a surprising move, the allocation for the Mahatma Gandhi National Rural Employment Guarantee Act has been reduced drastically in this year’s Budget – to Rs 60,000 crore. This year’s planned expenditure (Rs 1,12,899 crore) is higher than both what was planned and what was spent last year. In the last two financial years, however, the government actually spent less on education than it had originally planned. Surveys have found serious gaps in learning – even to the extent of loss of the ability to read – among students who do not have the means or space to attend online classes regularly. The last few years have been difficult for students across the country, as the COVID-19 pandemic led to long school and college closures. She had spoken of this target last year too. That’s less than both what was planned and achieved – 6.4% – in the previous financial year.Īccording to Sitharaman, the target of 5.9% next year is consistent with the broad path of fiscal consolidation announced over the last two years, to reach a fiscal deficit of 4.5% by 2025-26. The government’s planned fiscal deficit (basically how much expenditure exceeds revenue by) for the upcoming financial year has been set at 5.9% of GDP. In eight charts, The Wire breaks down how much the Centre has spent on key sectors and certain flagship welfare schemes over the last year few years, and how much it is promising to spend in the year ahead. But what does it really say about the government’s priorities? A clearer answer is perhaps available in the budget papers. New Delhi: In her budget speech delivered on Wednesday morning, finance minister Nirmala Sitharaman repeated many times that this was the first budget of the ‘ Amrit kaal‘, and would set the tone for the years ahead. ![]()
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