No fiscal restriction on Capeex; Govt's fiscal cautionary firm: FM Sitharaman | Mint

Finance Minister Nirmala Sitharaman said on Tuesday that the Centra; The government’s capital expenditure has increased over the years, also in FY25, despite last year’s national election and that there is no fiscal limitation in this regard. Sitharaman also said in a position on social media that the fiscal caution of the NDA is firm, which reflects land reality and transparent fiscal management. The minister said in a position on social media that the revised estimate for the center’s capital expenditure in FY24 was £ 9.5 trillion, and the same for the financial year ending March 31 was £ 10.18 trillion. Also read: Customs duty cut an ongoing process, not linked to the global situation: FM “It clearly indicates an increase of 7.3%. There was no cut in the Central Government Central Government,” the minister said. The statement of Sitharaman is in response to the former finance minister and leader of Congress Party P. Chidambaram’s statement on the social media platform X that the Union Government’s budgeted estimate (be) of capital spending for FY25 was £ 11.11 trillion, but was revised to £ 10.18 trillion in the revised estimates (re). Adjustments based on developing needs “Budget estimates are set up before the financial year begins and naturally develops into revised estimates based on expenditure trends, implementation capacity and emerging priorities. It is a standard public finance practice,” Sitharaman said. Also read: India’s next major corporate reform: decriminalize more than 100 offenses at the end of the year “In FY25, capital expenditure has been influenced by various factors: the model code during general elections, extreme weather and lower-than-expected expenses by states and certain central agencies. Surveys were not needed. She said the budget estimate for the trade union government’s special assistance scheme to make capital investment (SASCI) for FY25 was £ 1.50 trillion, and the revised estimate as at 1 February this year was £ 1.25 billion, but the actual release was above the revised estimates. “I mentioned in the house that the actual releases for SASCI (on March 26) in FY25 are £ 1,46,362,” the minister said, adding that it was an increase over the revised estimates. Also read: The net direct tax collections of the center reached £ 21.26 trillion, 95% of the revised estimates the government offered the budget on February 1 this year, which introduced £ 11.21 trillion to capital expenditure and another 1.5 trillion to States under SASCI for FY26. Catch all the business news, economy news, news reports and online updates on live mint. Download Themint News -APP to get daily market updates. Business Newsconomyno fiscal restriction on Capeex; Govt’s fiscal cautionary firm: FM Sitharaman more less