Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        Interviews | TV Somanathan, Expenditure Secretary in the Ministry of Finance, interviewed by Vikas Dhoot (The Hindu)    </title>
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Even with closures, capex exceeded plan, says Expenditure Secretary

Expenditure Secretary T.V. Somanathan said the government has been very careful and realistic in its expenditure and receipts projections for 2021-22, and that its push for capital expenditure is the largest..."/>
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Even with closures, capex exceeded plan, says Expenditure Secretary

Expenditure Secretary T.V. Somanathan said the government has been very careful and realistic in its expenditure and receipts projections for 2021-22, and that its push for capital expenditure is the largest..." />
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    <h1 class="cat-box-title">TV Somanathan, Expenditure Secretary in the Ministry of Finance, interviewed by Vikas Dhoot (The Hindu)</h1>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Even with closures, capex exceeded plan, says Expenditure Secretary</em></p><p style="text-align:justify">Expenditure Secretary T.V. Somanathan said the government has been very careful and realistic in its expenditure and receipts projections for 2021-22, and that its push for capital expenditure is the largest ever over a two-year period. Excerpts:</p><p style="text-align:justify"><em>* You have called it an expansionary budget, but overall spending is just about 33,000 crore in 2021-22 over this year&rsquo;s revised estimates (RE). Also, what&rsquo;s been the approach used for overall estimates?</em></p><p style="text-align:justify">Yes, but the RE is substantially higher than the Budget Estimate (BE), which is contrary to expectations of most analysts and economists. So spending expanded this year and the expansion has been sustained into next year. As recently as two weeks ago, a lot of analysts were saying it will be about rs. 30-31 lakh crore. It might have looked more expansionary if we spent 30 lakh crore this year and then spent 34 lakh crore&hellip; but actually, spending around 34 lakh crore in both years is more expansionary.</p><p style="text-align:justify">Incremental expenditure isn&rsquo;t high, I agree, but the composition changes very substantially. This year&rsquo;s spending had a big weight of welfare schemes and subsidies, and next year, many of those one-time expenditures disappear and get replaced by capital expenditure. The capital expenditure is 34.5% above 2020-21&rsquo;s BE and 26.5% over the RE. With six months of closure and restrictions, capital expenditure has been difficult to sustain, yet the capex is above BE, which is a significant achievement. Most people didn&rsquo;t expect us to reach anywhere near the capex budget. But we are likely to reach 4.39 lakh crore. And this year&rsquo;s BE was 21% higher than previous year, so over a two-year period, this is the highest increase in capex ever.</p><p style="text-align:justify">Estimating for the central government of a democracy of such diversity and complexity of India is an art, not a science, so we can never get the estimates exactly right. We can&rsquo;t predict every possible contingency that will arise during the year, nor can we very accurately predict what the revenue collections will be, nor can we even predict what the GDP will be. So the only thing that I will say with all sincerity is that this time, we have been extremely careful to try and estimate all receipts &mdash; not just revenue &mdash; and expenditure as realistically as we can, given the information and the knowledge that we have. We may go wrong, our knowledge may be less, or our information may be wrong. But there is no deliberate under- or over-estimation. If anything, there may be slight underestimation of revenue and slight over-estimation of expenditure on the conservative side, because we don&rsquo;t want to show a rosier picture than reality. We want to be very careful, we know that we are in a difficult situation, we have just gone through a very difficult situation.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece" title="https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece">click here</a> to read more.</p><p style="text-align:justify"><strong>Image Courtesy: The Hindu</strong></p>                                                           
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    <br><a href="https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece" class="re" target="_blank">The Hindu, 4 February, 2021, https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece</a><div class="clear"></div>
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Even with closures, capex exceeded plan, says Expenditure Secretary

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Even with closures, capex exceeded plan, says Expenditure Secretary

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    <h1 class="cat-box-title">TV Somanathan, Expenditure Secretary in the Ministry of Finance, interviewed by Vikas Dhoot (The Hindu)</h1>
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Even with closures, capex exceeded plan, says Expenditure Secretary</em></p><p style="text-align:justify">Expenditure Secretary T.V. Somanathan said the government has been very careful and realistic in its expenditure and receipts projections for 2021-22, and that its push for capital expenditure is the largest ever over a two-year period. Excerpts:</p><p style="text-align:justify"><em>* You have called it an expansionary budget, but overall spending is just about 33,000 crore in 2021-22 over this year&rsquo;s revised estimates (RE). Also, what&rsquo;s been the approach used for overall estimates?</em></p><p style="text-align:justify">Yes, but the RE is substantially higher than the Budget Estimate (BE), which is contrary to expectations of most analysts and economists. So spending expanded this year and the expansion has been sustained into next year. As recently as two weeks ago, a lot of analysts were saying it will be about rs. 30-31 lakh crore. It might have looked more expansionary if we spent 30 lakh crore this year and then spent 34 lakh crore&hellip; but actually, spending around 34 lakh crore in both years is more expansionary.</p><p style="text-align:justify">Incremental expenditure isn&rsquo;t high, I agree, but the composition changes very substantially. This year&rsquo;s spending had a big weight of welfare schemes and subsidies, and next year, many of those one-time expenditures disappear and get replaced by capital expenditure. The capital expenditure is 34.5% above 2020-21&rsquo;s BE and 26.5% over the RE. With six months of closure and restrictions, capital expenditure has been difficult to sustain, yet the capex is above BE, which is a significant achievement. Most people didn&rsquo;t expect us to reach anywhere near the capex budget. But we are likely to reach 4.39 lakh crore. And this year&rsquo;s BE was 21% higher than previous year, so over a two-year period, this is the highest increase in capex ever.</p><p style="text-align:justify">Estimating for the central government of a democracy of such diversity and complexity of India is an art, not a science, so we can never get the estimates exactly right. We can&rsquo;t predict every possible contingency that will arise during the year, nor can we very accurately predict what the revenue collections will be, nor can we even predict what the GDP will be. So the only thing that I will say with all sincerity is that this time, we have been extremely careful to try and estimate all receipts &mdash; not just revenue &mdash; and expenditure as realistically as we can, given the information and the knowledge that we have. We may go wrong, our knowledge may be less, or our information may be wrong. But there is no deliberate under- or over-estimation. If anything, there may be slight underestimation of revenue and slight over-estimation of expenditure on the conservative side, because we don&rsquo;t want to show a rosier picture than reality. We want to be very careful, we know that we are in a difficult situation, we have just gone through a very difficult situation.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece" title="https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece">click here</a> to read more.</p><p style="text-align:justify"><strong>Image Courtesy: The Hindu</strong></p>                                                           
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    <br><a href="https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece" class="re" target="_blank">The Hindu, 4 February, 2021, https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece</a><div class="clear"></div>
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        Interviews | TV Somanathan, Expenditure Secretary in the Ministry of Finance, interviewed by Vikas Dhoot (The Hindu)    </title>
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Even with closures, capex exceeded plan, says Expenditure Secretary

Expenditure Secretary T.V. Somanathan said the government has been very careful and realistic in its expenditure and receipts projections for 2021-22, and that its push for capital expenditure is the largest..."/>
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Even with closures, capex exceeded plan, says Expenditure Secretary

Expenditure Secretary T.V. Somanathan said the government has been very careful and realistic in its expenditure and receipts projections for 2021-22, and that its push for capital expenditure is the largest..." />
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                            <p style="text-align:justify">-The Hindu</p><p style="text-align:justify"><em>Even with closures, capex exceeded plan, says Expenditure Secretary</em></p><p style="text-align:justify">Expenditure Secretary T.V. Somanathan said the government has been very careful and realistic in its expenditure and receipts projections for 2021-22, and that its push for capital expenditure is the largest ever over a two-year period. Excerpts:</p><p style="text-align:justify"><em>* You have called it an expansionary budget, but overall spending is just about 33,000 crore in 2021-22 over this year&rsquo;s revised estimates (RE). Also, what&rsquo;s been the approach used for overall estimates?</em></p><p style="text-align:justify">Yes, but the RE is substantially higher than the Budget Estimate (BE), which is contrary to expectations of most analysts and economists. So spending expanded this year and the expansion has been sustained into next year. As recently as two weeks ago, a lot of analysts were saying it will be about rs. 30-31 lakh crore. It might have looked more expansionary if we spent 30 lakh crore this year and then spent 34 lakh crore&hellip; but actually, spending around 34 lakh crore in both years is more expansionary.</p><p style="text-align:justify">Incremental expenditure isn&rsquo;t high, I agree, but the composition changes very substantially. This year&rsquo;s spending had a big weight of welfare schemes and subsidies, and next year, many of those one-time expenditures disappear and get replaced by capital expenditure. The capital expenditure is 34.5% above 2020-21&rsquo;s BE and 26.5% over the RE. With six months of closure and restrictions, capital expenditure has been difficult to sustain, yet the capex is above BE, which is a significant achievement. Most people didn&rsquo;t expect us to reach anywhere near the capex budget. But we are likely to reach 4.39 lakh crore. And this year&rsquo;s BE was 21% higher than previous year, so over a two-year period, this is the highest increase in capex ever.</p><p style="text-align:justify">Estimating for the central government of a democracy of such diversity and complexity of India is an art, not a science, so we can never get the estimates exactly right. We can&rsquo;t predict every possible contingency that will arise during the year, nor can we very accurately predict what the revenue collections will be, nor can we even predict what the GDP will be. So the only thing that I will say with all sincerity is that this time, we have been extremely careful to try and estimate all receipts &mdash; not just revenue &mdash; and expenditure as realistically as we can, given the information and the knowledge that we have. We may go wrong, our knowledge may be less, or our information may be wrong. But there is no deliberate under- or over-estimation. If anything, there may be slight underestimation of revenue and slight over-estimation of expenditure on the conservative side, because we don&rsquo;t want to show a rosier picture than reality. We want to be very careful, we know that we are in a difficult situation, we have just gone through a very difficult situation.</p><p style="text-align:justify">Please <a href="https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece" title="https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece">click here</a> to read more.</p><p style="text-align:justify"><strong>Image Courtesy: The Hindu</strong></p>                                                           
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    <br><a href="https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece" class="re" target="_blank">The Hindu, 4 February, 2021, https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece</a><div class="clear"></div>
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TV Somanathan, Expenditure Secretary in the Ministry of Finance, interviewed by Vikas Dhoot (The Hindu)

Published on Feb 4, 2021   Modified on Feb 10, 2021

-The Hindu Even with closures, capex exceeded plan, says Expenditure Secretary Expenditure Secretary T.V. Somanathan said the government has been very careful and realistic in its expenditure and receipts projections for 2021-22, and that its push for capital expenditure is the largest ever over a two-year period. Excerpts: * You have called it an expansionary budget, but overall spending is just about 33,000 crore in 2021-22 over this year’s revised estimates (RE). Also, what’s been the approach used for overall estimates? Yes, but the RE is substantially higher than the Budget Estimate (BE), which is contrary to expectations of most analysts and economists. So spending expanded this year and the expansion has been sustained into next year. As recently as two weeks ago, a lot of analysts were saying it will be about rs. 30-31 lakh crore. It might have looked more expansionary if we spent 30 lakh crore this year and then spent 34 lakh crore… but actually, spending around 34 lakh crore in both years is more expansionary. Incremental expenditure isn’t high, I agree, but the composition changes very substantially. This year’s spending had a big weight of welfare schemes and subsidies, and next year, many of those one-time expenditures disappear and get replaced by capital expenditure. The capital expenditure is 34.5% above 2020-21’s BE and 26.5% over the RE. With six months of closure and restrictions, capital expenditure has been difficult to sustain, yet the capex is above BE, which is a significant achievement. Most people didn’t expect us to reach anywhere near the capex budget. But we are likely to reach 4.39 lakh crore. And this year’s BE was 21% higher than previous year, so over a two-year period, this is the highest increase in capex ever. Estimating for the central government of a democracy of such diversity and complexity of India is an art, not a science, so we can never get the estimates exactly right. We can’t predict every possible contingency that will arise during the year, nor can we very accurately predict what the revenue collections will be, nor can we even predict what the GDP will be. So the only thing that I will say with all sincerity is that this time, we have been extremely careful to try and estimate all receipts — not just revenue — and expenditure as realistically as we can, given the information and the knowledge that we have. We may go wrong, our knowledge may be less, or our information may be wrong. But there is no deliberate under- or over-estimation. If anything, there may be slight underestimation of revenue and slight over-estimation of expenditure on the conservative side, because we don’t want to show a rosier picture than reality. We want to be very careful, we know that we are in a difficult situation, we have just gone through a very difficult situation. Please click here to read more. Image Courtesy: The Hindu

The Hindu, 4 February, 2021, https://www.thehindu.com/business/Economy/this-is-the-highest-capex-ever-over-a-2-year-period/article33753201.ece

Tagged with: Budget Estimare Capital Expenditure Fiscal Deficit Fiscal Expansion MGNREGA Revenue Expenditure Revised Estimate Union Budget Union Budget 2021-22

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