New Delhi, February 12 Prime Minister Narendra Modi on Thursday praised Finance Minister Nirmala Sitharaman's response in the Lok Sabha to the discussion on the Union Budget, stating that she provided a comprehensive overview of how this year's budget will contribute to the nation's economic transformation.
In her speech, Sitharaman stated that the government has planned a total expenditure of Rs 53.47 lakh crore for the next financial year, which is an increase of 7.7 per cent from the current fiscal ending March 31.
In a post on X, Modi said, "In her speech in the Lok Sabha, Finance Minister Smt. Nirmala Sitharaman Ji provided a comprehensive overview of how this year's Budget will contribute to our nation's economic transformation. She emphasized Reform Express, support for MSMEs, skill development, investment in next-generation infrastructure, and efforts to improve healthcare and education."
The finance minister also stated that the effective capital expenditure is Rs 17.1 lakh crore, which is 4.4 per cent of the GDP.
Furthermore, she said that the government is adhering to fiscal discipline and has projected a fiscal deficit of 4.3 per cent of the GDP or Rs 16.95 lakh crore for FY27.
She further added that the focus on reducing the debt-to-GDP ratio is part of the Fiscal Responsibility and Budget Management (FRBM) framework.
