Government spent Rs 100 lakh crore on development, social sector schemes in 8 years – Finance Ministry
During the financial year 2014-15 to the financial year 2021-22, the central government has spent Rs 90,89,233 crore for development related works.
The government has spent around Rs 100 lakh crore on infrastructure development and social sector programs in the last 8 years. Finance Minister (Finance Minister) A statement from the official Twitter account of Nirmala Sitharaman said that the expenditure was made on items such as productive assets, food and fertilizer subsidies and capital expenditure for social services. this explanation petrol and diesel ,Petrol-Diesel) after being criticized by the opposition about higher taxes and welfare spending of the government. reserve Bank of India (RBIReferring to a report of the ) sources said that during the financial year 2014-15 to the financial year 2021-22, the central government has spent Rs 90,89,233 crore for development related works.
Earlier recently, former Finance Minister P Chidambaram had said that the Prime Minister Narendra Modi-led government had collected Rs 26.5 lakh crore from fuel tax collection between 2014-2021. But the expenditure on free food grains, cash allowances to women, PM-Kisan and other cash transfers does not exceed `2,25,000 crore.
Four times the expenditure on development works
Government sources said the figures presented by the former finance minister are much lower as the expenditure on development works was almost four times. Sharing the details of the expenditure, he said that capital expenditure of more than Rs 26 lakh crore has been done. Rs 25 lakh crore has been spent on food, fertilizer and fuel subsidies and Rs 10 lakh crore on social services like health, education, affordable housing etc.
RBI data shows total developmental expenditure incurred by Modi Govt in 2014-22 was Rs 90.9 lakh cr, far higher than is being alleged by some sections of the Opposition. In contrast, only Rs 49.2 lakh crore was spent on this during 2004-14. Source: https://t.co/VZmMmPHz8G (1/3) pic.twitter.com/CrkYHWCn88
â€” NSitharamanOffice (@nsitharamanoffc) April 9, 2022
Sources said that it is clear that the money collected from the fuel tax has been put to good use for development.
Gati Shakti, PLI scheme will reduce the impact of global challenges
Mobility and production related incentive schemes will help in meeting the impact of global challenges. This will encourage investment, due to which the Indian economy will register a high rate of growth. According to the Finance Ministry’s monthly economic review, geo-political tensions and its rapid rise in the prices of food items, fertilizers and crude oil have dimmed the prospects of global growth.
It further said that it can also have an effect on India. However, this will depend on how long the energy and food markets remain bullish in the fiscal year and how strong the Indian economy is to mitigate this impact.
The report said that the transient shocks will not have a major impact on real growth and inflation. According to the report, while addressing these potential adversities, Mobility and Production Linked Incentive Schemes (PLIs) will spur investments, coupled with the supply chains that have been strengthened by the structural reforms undertaken over the past few years, to ensure high growth of the Indian economy. .
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