On the Congress’s charge of reducing MGNREGA spending in the budget of 2021-22, Thakur said that the government is increasing expenditure on it. Like them, there is no cutting it in the phase of revised estimates.
Union Minister of State for Finance Anurag Singh Thakur has said that if the need arises in future, the government will not hesitate to increase spending under the Mahatma Gandhi National Rural Employment Guarantee (MGNREGA) program. Thakur said that the Narendra Modi government has taken many steps in the interest of the poor and the weaker sections of the society in the past.
On the Congress’s charge of reducing MGNREGA spending in the budget of 2021-22, Thakur said that the government is increasing expenditure on it. Like them, there is no cutting it in the phase of revised estimates. Giving an example, he said that in the budget for FY 2019-20, MGNREGA spending was estimated at Rs 60,000 crore, which was increased to Rs 71,001.81 crore. In the current financial year also it has been increased from Rs 61,500 crore to Rs 1,11,500 crore. Thakur said in an interview that due to the Kovid-19 epidemic in the current financial year, there has been a significant increase in MGNREGA spending to provide additional employment to the people of rural areas.
73,000 crore for MGNREGA for the next financial year.
The MGNREGA spending estimate has been increased to Rs 73,000 crore in FY 2021-22. Its budget estimate for the current financial year was Rs 61,500 crore. The Minister of State for Finance said, ‘During the lockdown, a large number of workers had returned to their homes. In such a situation, there was a need to provide employment in rural areas. After the unlock, now these workers are returning. In such a situation, there will probably be no need to spend heavily.
Estimated fiscal deficit to be 9.5% in the current financial year
On the estimate of a high fiscal deficit of 9.5 per cent for the current fiscal, Thakur said that it looks high for the financial year. But the government has set a target of bringing it down to 4.5 per cent by 2025-26. He said, ‘Many economists had suggested the government to increase spending to deal with Kovid-19, so that the lives of the poor could be saved. Also, business sector was also helped, so that employment could be saved. In such a situation, the fiscal deficit may look somewhat high.
14.4 percent growth forecast for next financial year
He said that looking at the indicators that are being received right now, it can be said that the economy is on the path of revival. In the budget also, the growth rate of GDP at current prices in the next financial year has been estimated to be 14.4 percent.
