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LATEST NEWS UPDATES | Expenditure secy: Chose capex over handouts, will trigger growth -Aanchal Magazine

Expenditure secy: Chose capex over handouts, will trigger growth -Aanchal Magazine

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published Published on Feb 6, 2021   modified Modified on Feb 6, 2021

-The Indian Express

Somanathan said the government is trying to reach the target group of unskilled and semi-skilled workers through increased government expenditure in the construction sector.

Working with a “constrained resource envelope” in the aftermath of the Covid-19 pandemic ahead of Budget 2021-22, the government essentially had to make a choice between two policy options: handouts and capital expenditure. “We chose capex,” TV Somanathan, Expenditure Secretary, Ministry of Finance, told The Indian Express in a post-Budget interview, responding to a question on the policy choices.

The 34.46 per cent hike in capital expenditure in 2021-22 over the Budget Estimate of 2020-21, to be utilised mostly on infrastructure sectors including rail and roads, will have a huge multiplier effect, boost investment, generate jobs and improve incomes, he said.

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The Indian Express, 6 February, 2021, https://indianexpress.com/article/business/economy/budget-2021-economy-growth-tv-somanathan-7176609/


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