Government committed to fiscal consolidation, boost investment in social sector: Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday said that the government was committed to the path of fiscal consolidation without compromising on requirements of public expenditure and there was an increase in tax receipts of the government. Replying to a marathon debate on the union budget 2019-20, she said the government was committed to national security as also to “sabka saath, sabka vikas”.

She said that the amount of money spent on central government schemes was higher two years after the implementation of Goods and Services Tax. She also said the government was committed to “substantially boost” investment in agriculture and social sector, particularly education and health.

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Finance Minister referred to the government setting fiscal deficit target of 3.3% from an earlier 3.4% and said there should be no anxiety. “The government is committed to continue the path of fiscal consolidation without compromising on requirements of public expenditure placed by various sectors,” she said.

“Increased investment in the social sector will be ensured through prudent rationalization of expenditure and mobilisation of additional resources,” she added. Several members took part in the debate which lasted over 15 hours.

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