The Finance Minister Shri P.Chidambaram has announced that the plan expenditure in 2013-14 will be 29.4 percent more than the revised estimate of the current year. He said that anticipating a global and domestic recovery, total expenditure had been fixed at Rs. 14,90,925 crore but due to the slowdown and the austerity measures, the revised estimate is Rs. 14,30,825 crore or 96 percent of the budget estimate. The Minister said that economic space that has been gained has given him the confidence to be more ambitious in 2013-14 and he has been able to set the BE of total expenditure at Rs. 16,65,297 crore and of plan expenditure at Rs. 5,55,322 crore.

He said, all flagship programmes have been fully and adequately funded and now it is over to the Ministries and Departments to deliver the outcomes through good governance, prudent cash management, close monitoring and timely implementation.

Shri Chidambaram said in a developing country like India, the link between economic policy and economic welfare can be expressed in a few words: opportunities, education, skills, jobs and incomes. The Minister emphasized that his budget for 2013-14 has before it one overarching goal that is to create opportunities for our youth to acquire education and skills that will get them decent jobs or self-employment, that will bring them adequate incomes and that will enable them to live with their families in a safe and secure environment.

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DSM/SNC/YSK/AKA/61

(Release ID :92740)

Plan expenditure increase signals renewed fiscal ambition to fund flagship programmes and promote youth employment. The budget announces a substantive increase in plan expenditure enabled by regained fiscal space, sets higher total and plan expenditure targets while fully funding flagship programmes, and directs Ministries and Departments to deliver outcomes through prudent cash management, close monitoring and timely implementation. The stated overarching goal is to create opportunities for youth by investing in education, skills and job-creation to secure decent employment or self-employment and adequate incomes.