Greater Noida (Political Desk): Former Finance Minister P. Chidambaram raised concerns about Nirmala Sitaraman’s claim on fiscal deficit. She claimed that she hasn’t just met the fiscal deficit target but also improved upon it—from 4.9% to 4.8%.
P. Chidambaram Asked:
But how did she achieve it?
👉She cut the capex of the central govt by ₹92,682 crore.
👉She cut grants-in-aid for creating capital assets (another form of capex) by ₹90,887 crore.
So, the total cut in capex by the Centre and States in the current year will be ₹1,83,569 crore.
By cutting capex by such a humongous amount, she saved on the fiscal deficit ₹43,785 crore.
This is not good economics. You can’t cut capex and compress your fiscal deficit.
On the expenditure side, where do the cuts follow?
👉Health: ₹1,255 crore
👉Education: ₹11,584 crore
👉Social welfare: ₹10,019 crore
👉Agriculture: ₹10,992 crore
👉Rural development: ₹75,133 crore
👉Urban development: ₹18,907 crore
Other unkind cuts include various schemes:
❌Poshan
❌Jal Jeevan Mission
❌National Social Assistance Program
❌PM Gram Sadak Yojana
❌Crop insurance scheme
❌Urea subsidy
❌PM Garib Kalyan Yojana
Most cruel cuts are:
❓Anusuchit Jati Yojana
❓Young Achievers Scholarship
❓Post Matric Scholarship for SCs
❓Programs for the development of STs
You make cuts in these crucial schemes and say your fiscal deficit has been improved.
The Hon’ble FM has claimed in interviews that she hasn’t just met the fiscal deficit target but also improved upon it—from 4.9% to 4.8%.
But how did she achieve it?
👉She cut the capex of the central govt by ₹92,682 crore.
👉She cut grants-in-aid for creating capital assets… pic.twitter.com/XXC6LijQBY
— Congress (@INCIndia) February 10, 2025
