Mega Budget Unveiled: Govt Plans Rs 53.47 Lakh Crore Expenditure for Next Year

In a bold move to boost the nation's economic growth, Finance Minister Nirmala Sitharaman on Wednesday revealed the government's plan for a total expenditure of Rs 53.47 lakh crore for the next financial year. This is a notable increase of 7.7 percent from the current fiscal ending March 31.

Sitharaman emphasized that the government's tax receipt target is set at Rs 44.04 lakh crore, representing an 8 percent rise from the previous year. She announced the highest-ever capital expenditure allocation at Rs 12.2 lakh crore, which forms 4.4 percent of GDP. The expected fiscal deficit for FY27 is pegged at 4.3 percent of GDP or Rs 16.95 lakh crore.

Addressing concerns beyond finances, Minister Sitharaman debunked rumors of a fertilizer shortage and responded strongly to opposition claims regarding handling international agreements and the law and order situation in West Bengal, ahead of upcoming elections.