May 27 (Punjab Khabarnama) : Finance Minister Nirmala Sitharaman said on Monday that the Prime Minister Narendra Modi-led government has given a new look to the Union Budget in the last 10 years. The Finance Minister said that the government has transformed the budget from a record of expenditure into a strategic blueprint for equitable distribution. The minister stressed that the government will continue to make the best possible use of taxpayers’ money. He said the Modi government has prioritized transparency in its budget practices and data.
Sitharaman wrote on social media
Sitharaman said countries with transparent budgets are often viewed more favorably by international bodies such as the International Monetary Fund (IMF) and the World Bank. This can improve global trust. Sitharaman, in a series of posts on social media platform This is in stark contrast to the 2015 fiscal crisis, which transferred some of the fiscal burden to future generations.
Significant improvement in budget credibility
Under the UPA, standard fiscal practices were routinely changed to make budget figures appear favorable. He said the last decade has seen considerable improvement in the credibility of the Union Budget, leaving behind old constraints and practices. Sitharaman said that our government has transformed the budget from just a record of expenditure into a strategic blueprint for equitable development. We make judicious and proper use of every rupee collected from our taxpayers.
Operation of 108 centrally sponsored schemes
Sitharaman said the central government operates 108 centrally sponsored schemes (CSS) through state and union territory governments, with a budget of about Rs 5.01 lakh crore for the financial year 2024-25. For the financial year 2023-24 it was Rs 4.76 lakh crore. The minister said the Modi government is committed to harnessing state-of-the-art technology, enhancing transparency and taking forward the ongoing reforms to lay a strong foundation for a developed India.