- SRK-Deepika have masti at music launch of \'HNY\'Deepika Padukone on cleavage and more celeb tweets that made newsPics: Yo Yo Honey Singh, Mika Singh, Gauhar Khan on India’s Raw StarSalman said interesting things about \'Bigg Boss 8\'Mahira denied debut with RanveerRanbir\'s strange silence on DeepikaFor Akshay martial arts is a mustPutin\'s girlfriend to head media groupCleavage row: Deepika what do you say about these picsSanjay Dutt\'s role in Aamir\'s PK revealed
The unpleasant memories of 2012 Olympics still fresh in her minds, Indian archery's blue-
Plan Expenditure may face substantial cut in Budget Last Updated : 03 Feb 2013 12:03:34 PM IST Plan Expenditure may face cut
Finance Minister P Chidambaram has already committed to restricting the fiscal deficit for the current financial year to 5.3 per cent of GDP and lower it further to 4.8 per cent next fiscal.
Sources said the axe may fall on Plan Expenditure next year in order to restrict the fiscal deficit as per the roadmap under which it has to be lowered to 3 per cent by 2016-17.
The Ministry, they said, will also scrutinise the utilisation of funds alloted in the current fiscal before releasing any amount for next year in the Budget, to be announced on February 28.
According to data of Controller General of Accounts (CGA), the Plan Expenditure has been 56.8 per cent of the Budget estimates or about Rs 2.96 crore till December.
However, the non-Plan Expenditure was 72 per cent of Budget estimated at Rs 6.95 lakh crore.
Seeking to contain the fiscal deficit at 5.3 per cent this year, the Finance Ministry has already asked all government departments to cap spending in January-March quarter at 33 per cent of the total funds allocated for the full financial year.
"The restriction of 33 per cent and 15 per cent expenditure ceilings (in the last quarter of the current financial year and during the month of March respectively) is to be enforced both scheme-wise as well as for the demands for grant as a whole," the ministry had said.
The government had hiked the fiscal deficit target for the current fiscal to 5.3 per cent of GDP, up from 5.1 per cent estimated in Budget.
Government's fiscal deficit touched 78.8 per cent of the budget estimates (BE) in the April-December 2012.
The rising subsidy bill and lower-than-expected revenue realisation has put pressure on government finances in the ongoing fiscal.
On the disinvestment side, the government has been able to raise just over Rs 10,000 crore so far, as against the target of Rs 30,000 crore for the entire 2012-13 fiscal year.
In November, the government sought approval of the Lok Sabha for additional expenditure of about Rs 32,120 crore for this fiscal, mainly to meet increasing oil subsidy bill and provide Rs 2,000 crore to the ailing Air India.
Of the total, Rs 28,500 crore will be used to compensate oil marketing companies on under-recoveries towards sale of subsidised petroleum products. With additional grant, total funds earmarked for oil subsidy will soar to about Rs 72,260 crore in 2012-13.
Post Your Comment (0 posted):
See the pictures of 'Happy New Year' Party.
- Deepika Padukone on cleavage and more celeb tweets that made news
- Pics: Yo Yo Honey Singh, Mika Singh, Gauhar Khan on India’s Raw Star
- Salman said interesting things about 'Bigg Boss 8'
- Madonna to release new album in 2015
- Monroe took 14 retakes for iconic 'The Seven Year Itch' scene
- Mahira denied debut with Ranveer
- Katy Perry leads MTV EMAs with seven nominations
- Ranbir's strange silence on Deepika
Lord Hanuman has managed to get an Aadhaar card made, but there are no takers for it.
Apple had more than 4 million advance orders of its new iPhones in the first 24 hours.