New Delhi: In view of the Karona epidemic, the central government has changed its spending plan for the current financial year. The sections are divided into important and non-important categories. It has been decided to reduce the budget expenditure of the less important departments by 40 per cent. Savings and spending cuts have been made necessary as revenue revenues have declined and economic growth has slowed. Funding will be needed to fight the epidemic. With that in mind, the budget has changed the targets set for different departments. The budget targets of departments such as culture, tourism and youth affairs will be reduced.
The money that comes out after cutting the budget of the less important department will be used as capital expenditure. In the current financial year, Finance Minister Nirmala Sitharaman has announced a budget of Rs 4.21 lakh crore. These expenditures create long-term assets and infrastructure that are essential to a strong economy. Many people have lost their livelihoods since the announcement of the lockdown to deal with the corona epidemic. It is imperative to create new jobs that will not be possible without capital expenditures. That is why the money of the less important project will be brought in and invested in the project that is now needed. The government is focusing on projects that can be implemented by importing materials from within the country. Important projects do not seem to be paying much attention. The central government is pushing for no more new projects this year. The government is focusing on the national infrastructure pipeline to be built with an investment of Rs 100 lakh crore. Ministries have been told not to start any new projects.
