-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,...

In order to understand why the Union Budget 2021-22 is being termed as ‘transparent’, it has to be read simultaneously with the 15th Finance Commission Main Report for 2021-26. But first, let us discuss 'fertilizer subsidy'. The budget documents for Union Budget 2021-22 show that the spending on ‘fertilizer subsidy’ was slashed from Rs. 1,33,947 crore in 2020-21 (revised estimate) to Rs. 79,530 crore in 2021-22 (budget estimate). However, the budgetary...

-The Indian Express Finance Commission has taken a judicious approach in weighing competing needs of Centre and states The terms of reference of the 15th Finance Commission were controversial and contentious. Several state governments had raised concerns over what they saw as attempts by the Centre to claw back the fiscal space and autonomy extended to them by the 14th Finance Commission. The concerns centred not only on the vertical (between Centre...

-The Hindu Major welfare schemes have faced cuts and deductions, it says. Instead of taking bold steps to counter rising hunger following the national lockdown last year, the Union Budget has responded by introducing “cuts and deductions” and “abdicating its responsibility in ensuring social security,” the Right to Food Campaign said on Wednesday. According to an analysis, the allocations for important food and nutrition programmes such as the POSHAN (or ICDS scheme) and...

-Counterview.net Even as calling Finance Minister Nirmala Sitharaman’s budget “historic”, top international NGO Oxfam, pointing towards “some gaps” in it, “especially while addressing inequalities on the lines of caste, class, gender and occupation”, has regretted that the budget “does not address the urgent spending needs in the social sector, especially in health and education.” In a statement, Oxfam India quotes CEO stating that “the Union Budget 2021 has failed to address inequality...