inance Minister Nirmala Sitharaman, after presenting the Union Budget, claimed that there is no reduction in public spending on capital expenditure. She made this claim while addressing a post-budget press conference.
Delhi: Union Finance Minister Nirmala Sitharaman addresses Post-Budget Conference says, "There is no reduction in public spending on capital expenditure. Let's put that up front. We continue to emphasize the multiplier effect that capital expenditure by the government has shown,… pic.twitter.com/6rGUMlIs5v
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"There is no reduction in public spending on capital expenditure. Let's put that up front. We continue to emphasize the multiplier effect that capital expenditure by the government has shown, which has sustained us. We will continue on this path. With all of this, our fiscal prudence has aligned itself with the glide path that we announced in 2020-21. We have kept ourselves in alignment, and fiscal prudence has been maintained. The estimate for the coming year has also been given, well under 4.5%, as we had said earlier, and we are projecting the same," she said.
The FM reiterated that the income tax simplification which she announced in July last year will be brought as a Bill next week.
"This budget also addresses the rationalization of customs. Tariffs are being reduced and simplified, and the tariff basket, which previously included many different tariffs for various commodities, has now been streamlined. Eight tariffs were removed earlier, and eight more have been removed now. So, what remains now are seven, and that sums up India's tariff picture," she added.
FM Sitharaman emphasized that the budget outlines several steps toward 'Viksit Bharat'.