According to sources, while Jaitley will be doing a tight rope- walk due to the poor state of finances inherited from the
However, this would make the proposed plan spending for the fiscal year higher by about `
The plan expenditure, or GBS ( gross budgetary support), is the government spending on social sector schemes such as
Senior officials said that there is little scope to increase the Plan spending over the last Budget as the government is required to keep the fiscal deficit in check.
According to the latest government data, the fiscal deficit in 2013- 14 stood at 4.5 per cent of gross domestic product ( GDP), lower than 4.6 per cent projected in the revised estimate mainly on account of curbs on government expenditure.
The fiscal deficit, the gap between government's expenditure and revenue, in actual terms was at ` 5.08 lakh crore as against ` 5.24 lakh crore projected in the revised estimates. The UPA government had cut the total Plan expenditure to `
It was for second year in a row that the previous government cut Plan spending substantially to keep fiscal deficit under control.
After assuming office in 2004, the UPA government in its regular Budget had pegged the total Plan expenditure at `
Most Popular Stories
- Florida Warns Beach-goers About Flesh-eating Bacteria
- Islamic State Fights for Control of Syrian Oil Wealth
- Sutherland Responds to 'Unprofessional' Jibe
- LivePro Is a Mobile Hot Spot, Projector in One
- How to Fit Green Energy Into Your Portfolio
- Sanctions Will Hit Russia Hard if Not Lifted Quickly
- Adrienne Bailon Disses Ex-Lover Rob Kardashian
- U.S. Economy Grows at Fastest Pace in 10 Years
- Jerry Brown Favors More Shelters for Immigrant Kids
- Business Leaders Set for CHCC Convention