The advancement of the Budget by a month to February 1 was intended to utilize the full working season, including the first quarter (April-June of 2017-18), to step up expenditure, he said.
As a result of Budget advancement by a month, the government's expenditure went up 27 per cent in April-June of the current fiscal to over Rs 6.50 lakh crore, Finance Minister Arun Jaitley said.
He said the advancement of the Budget by a month to February 1 was intended to utilise the full working season, including the first quarter (April-June of 2017-18), to step up expenditure.
The total expenditure of the government during the first quarter is Rs 6,50,731 crore, which is 30.3 per cent of the amount budgeted for 2017-18 as against Rs 5,11,833 crore for the corresponding period of the previous year, Jaitley said.
When the budget got approved in mid-May, the spending would start only in the second quarter. However, the Budget was presented on February 1 this year and Parliament approved it before the start of the fiscal year on April 1.
The government had brought forward the Budget presentation to provide allocation to the departments from the first day of the new financial year, he said.
According to the data, spending as a percentage of BE in the April-June quarter in 2017 increased for 32 central ministries, including agriculture, defence, home, mines and Panchayati Raj, compared with the first three months of 2016.
Wednesday, August 9, 2017