Finance Minister Nirmala Sitharaman addressed the parliament on Tuesday, responding to discussions on the recent budget. She emphasized significant increases in allocations for various social sector schemes compared to both the previous year and 2013-14.
Sitharaman reported that the government’s overall expenditure has grown to Rs 48.21 lakh crore, projecting a 7.3% increase over 2023-24 and an 8.5% rise over pre-actuals of 2023-24.
In her address, the Finance Minister detailed the growth in several key sectors. The agriculture and allied sectors saw an increase from Rs 30,000 crore in 2013-14 to Rs 1.52 lakh crore, marking an Rs 8,000 crore increase from last year.
Education, employment, and skilling sectors experienced a significant boost, rising from Rs 85,000 crore in 2013-14 to Rs 1.48 lakh crore, representing a 23% increase from the previous year.
Notably, the allocation for women and girls surged from Rs 96,000 crore in 2013-14 to Rs 3.27 lakh crore, with a substantial Rs 96,000 crore increase from last year alone. Rural development also saw a considerable uptick, with the budget growing from Rs 87,000 crore in 2013-14 to Rs 2.66 lakh crore, an 11.7% increase from last year.
Urban development wasn’t left behind, with allocations increasing from Rs 12,000 crore in 2013-14 to over Rs 1 lakh crore, Rs 7,000 crore more than last year.
Highlighting the expenditure on the health sector, the FM added that the expenditure has increased from Rs 72,000 crore to Rs 1.46 lakh crore.
“So nowhere has the budget given a lesser allocation than the previous year,” said Sitharaman.
The FM also added that out of the Rs 48.21 lakh crore budget this year, the government has allocated Rs 11.11 lakh crore for capital expenditure.
“Out of the Rs 48.21 lakh crore, Rs 11.11 lakh crore go for capital expenditure,” said Sitharaman.
(Inputs from ANI)