-NDTV blog Nirmala Sitharaman said: "We have spent, we have spent and we have spent." She had every reason to claim that, since the budget numbers show that the centre spent ₹ 4.1 lakh crore, or 13 percent above what it had planned for last year. Additional spending will continue this year: expenditure is estimated to go up by 14.5 percent in 2021-2022 compared to last year, even though the government's...
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Despite some hits, the Budget has crucial misses -R Nagaraj
-The Hindu That there is no targeted employment programme to alleviate the immediate crisis is a matter of concern The Budget, at its simplest, is the government’s tentative income and expenditure statement. Like all financial statements, the devil lies in the fine print. At its broadest, the Budget is a pious statement of the government’s policy and ideological intentions. It is also the government’s statement of how it seeks to tackle the...
More »School education takes biggest hit: Govt cuts proposed education spending by Rs 6,000 cr -Ritika Chopra
-The Indian Express No announcements on recovering learning loss, support for children at risk of not returning to school. The government’s proposed spending on education next year has been cut by Rs 6,000 crore at a time when the Covid-19-induced disruption is expected to have exacerbated students’ learning loss and school dropout rates. The total education budget was slashed by 6 per cent from Rs 99,311 crore in 2020-21 to Rs 93,224 crore...
More »Story of Budget 2021, in 9 charts -howindialives.com
-Livemint.com The Union government has finally stepped on the gas when it comes to spending. But after a temporary splurge in the rest of this fiscal year, the finance ministry will tighten its purse strings to bring down debt levels, the budget numbers suggest Even as countries across the world raised spending aggressively to counter the economic impact of the covid-19 pandemic, India had remained an outlier. Throughout the pandemic, the finance...
More »Before Budget: Revenues Crash, Debt Mounts – But People Still Deprived -Subodh Varma
-Newsclick.in The Modi government has created a huge mess of its finances in the past year cutting spending and borrowing heavily. When the Union Budget is presented tomorrow (February 1), the government will have its hands full and pockets empty. In the current financial year, which will end on March 31, currently available information shows that revenues (government income) are going to be much short of what was estimated in last year’s...
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