Informist, Monday, Nov. 11, 2024

NEW DELHI – The government is hopeful of meeting the expenditure estimate, especially that of capital expenditure, for 2024-25 (Apr-Mar), a finance ministry official said. Till September, the government had spent 44% of the total expenditure estimate for the year and 37% of the capital expenditure target.

The government's capital expenditure in Apr-Sept was down 15.4% at INR 4.15 trillion. Total expenditure was also marginally lower at INR 21.11 trillion in the first six months of the year against 21.19 trillion in the corresponding period of the previous year.

The government needs to spend INR 6.96 trillion in six months to meet the capital expenditure target for the year. "Our expenditure is not bad. There should not be any shortfall," the official said.

The government's expenditure, especially towards creating capital, had a slow start this year on account of the Model Code of Conduct in April and May on account of the Lok Sabha elections. To ensure capital spending, Finance Minister Nirmala Sitharaman has held meetings with various departments and ministries since September to review their capital spending. So far, she has met officials from the railway, housing and urban affairs, and road transport and highways ministries.

On the receipts side, the collections from the National Small Savings Fund may not exceed the Budget estimate for the year, the official said. The government has estimated a collection of INR 3.88 trillion from NSSF in FY25.

Till September, the net inflow into small savings was INR 1.31 trillion, down 31% from last year. End

Reported by Krity Ambey and Sagar Sen

Edited by Ashish Shirke

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