homeeconomy NewsBudget 2023 responsible, adhering to the path of fiscal consolidation, says NK Singh
Budget 2023 responsible, adhering to the path of fiscal consolidation, says NK Singh
Rathin Roy, MD of Overseas Development Institute, noted that the budget was shrinking every year but he appreciated the modesty in numbers shown in the budget.
Former chairperson of the 15th Finance Commission NK Singh called the Union Budget 2023 presented by Union Finance Minister Nirmala Sitharaman a "responsible budget" that has adhered to the path of fiscal consolidation. This budget represents the interests of multiple stakeholders, ensuring that every section of society benefits from the government's financial plans, he said.
Singh especially appreciated the fact that the states were being given Rs 1.2 lakh crore but unfortunately they were not able to spend it. He also lauded the thrust on technology in economic activity in education, health and agriculture.
This is Sitharaman's fifth budget and the last full budget before the 2024 Lok Sabha Election. While presenting the Union Budget in Lok Sabha, FM said the Indian economy is on a "right track and heading towards a bright future".
Also Read: Budget 2023 | Entire expenditure under ‘PM Garib Kalyan Anna Yojana’ to be borne by centre: FM
Rathin Roy, MD of Overseas Development Institute, noted that the budget was shrinking every year but he appreciated the modesty in numbers shown in the budget. He however pointed out that the government has not been able to raise the revenue it planned.
"Forget taxes, even when it tries to disinvest, it is not able to do it," he said, adding that as a result, the government has cut down expenditures in order to maintain fiscal prudence.
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(Edited by : Pradeep John)
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