Govt raises plan expenditure outlay for 2010-11
The government has partially rolled back stimulus by raising excise duty, but it continues to support the system with a 15 per cent hike at Rs 3.73 lakh crore in planned expenditure outlay for 2010-11.business Updated: Feb 26, 2010 17:22 IST
The government has partially rolled back stimulus by raising excise duty, but it continues to support the system with a 15 per cent hike at Rs 3.73 lakh crore in planned expenditure outlay for 2010-11.
The government is likely to spend Rs 3.15 lakh crore under plan outlays this fiscal, around 3 per cent less than
provided in the Budget estimates.
As such, the government was able to restrain fiscal deficit at 6.7 per cent this fiscal, marginally lower than 6.8
per cent forecast earlier.
This was achieved despite tax collections taking a hit to the tune of Rs 8,000 crore, compared to Rs 6.41 lakh crore in
the Budget estimates.
Pressed to provide stimulus to the slowing down economy, the Government had raised plan expenditure by over 18 per cent
this fiscal, against last year's level of Rs 2.75 lakh crore.
Alongwith non-plan expenditure, which is likely to be over Rs 7 lakh crore this fiscal, the total expenditure
crossed Rs 10 lakh crore for the first time ever to Rs 10.21 lakh crore during 2009-10.
Total expenditure will still be higher at Rs 11.08 lakh crore next fiscal.