Govt keeps a vigil on inflation
Targeted approach averted recession: FM
image for illustrative purpose
Rising Capex
- Pvt investment rising
- PLI, other policies attracting investments
- Fuel, fertiliser prices adding to inflation
- Govt measures against Covid impact reviving growth
- Gross NPAs fall to 6-yr low of 5.9% in March 2022
New Delhi: Finance Minister Nirmala Sitharaman on Wednesday said the government is keeping a close watch on inflation to ensure there is no surge in prices, and highlighted the targeted approach in pulling out the economy from pandemic disruptions without slipping into recession. She also expressed confidence that the fiscal deficit will not breach the target because of enough revenue buoyancy to take care of additional expenditure of Rs 3.25 lakh crore in 2022-23. The minister was replying in Rajya Sabha to a discussion on first batch of Supplementary Demands for Grants for 2022-23.
The supplementary demand for grants was later returned to Lok Sabha, thus authorising the government to spend an additional Rs 3.25 lakh crore over and above the funds approved in the Union Budget. Sitharaman said the supplementary demands for grants is essentially for meeting expenditure towards food security and fertiliser subsidy, and providing support to the Indian economy. While participating in the debate, former finance minister and Congress veteran P Chidambaram wanted to know from the government how it plans to fund the additional spending.
