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Early Budget to help kick-start projects from April 1: Sitharaman

Sitharaman says that government will gain complete 1 month before budget's implementation from Apr 1

Press Trust of India  |  New Delhi 

Union Minister Nirmala Sitharaman. Photo: PTI
Union Minister Nirmala Sitharaman. Photo: PTI

Commerce and Industry Minister has exuded confidence that early will help various departments move ahead with their developmental projects from April 1 itself.

The government is planning to unveil the for 2017-18 on February 1 instead of the general practice of presenting it on the last working day of February.

Sitharaman said that the broad idea of presenting the early is that "you will gain complete one month before its implementation starts from April 1".

The usual practice of unveiling on the last working day of February, she said, delayed the whole process as the was actually passed after much beyond beginning the new financial year.

"...The departments which have to spend the money do not get the money in the hand (on time) and as a result of which everything gets pushed by 2-3 months...So actually, you lose out 2-3 important months in a financial year," she told PTI.

"Therefore, this step has a definite objective of getting it well on time. Now from April 1 itself, every department (will have) its money and the intention is not to go park the money in a concerned area and keep waiting to act, it should be steady flow of work get done and then move forward," the Minister said.

is gearing up to present the for next fiscal around February 1, advancing the scheduled date by a month so as to complete the entire process by March 31.

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Early Budget to help kick-start projects from April 1: Sitharaman

Sitharaman says that government will gain complete 1 month before budget's implementation from Apr 1

Sitharaman says that government will gain complete one month before budget's implementation from April 1 Commerce and Industry Minister has exuded confidence that early will help various departments move ahead with their developmental projects from April 1 itself.

The government is planning to unveil the for 2017-18 on February 1 instead of the general practice of presenting it on the last working day of February.

Sitharaman said that the broad idea of presenting the early is that "you will gain complete one month before its implementation starts from April 1".

The usual practice of unveiling on the last working day of February, she said, delayed the whole process as the was actually passed after much beyond beginning the new financial year.

"...The departments which have to spend the money do not get the money in the hand (on time) and as a result of which everything gets pushed by 2-3 months...So actually, you lose out 2-3 important months in a financial year," she told PTI.

"Therefore, this step has a definite objective of getting it well on time. Now from April 1 itself, every department (will have) its money and the intention is not to go park the money in a concerned area and keep waiting to act, it should be steady flow of work get done and then move forward," the Minister said.

is gearing up to present the for next fiscal around February 1, advancing the scheduled date by a month so as to complete the entire process by March 31.
image
Business Standard
177 22

Early Budget to help kick-start projects from April 1: Sitharaman

Sitharaman says that government will gain complete 1 month before budget's implementation from Apr 1

Commerce and Industry Minister has exuded confidence that early will help various departments move ahead with their developmental projects from April 1 itself.

The government is planning to unveil the for 2017-18 on February 1 instead of the general practice of presenting it on the last working day of February.

Sitharaman said that the broad idea of presenting the early is that "you will gain complete one month before its implementation starts from April 1".

The usual practice of unveiling on the last working day of February, she said, delayed the whole process as the was actually passed after much beyond beginning the new financial year.

"...The departments which have to spend the money do not get the money in the hand (on time) and as a result of which everything gets pushed by 2-3 months...So actually, you lose out 2-3 important months in a financial year," she told PTI.

"Therefore, this step has a definite objective of getting it well on time. Now from April 1 itself, every department (will have) its money and the intention is not to go park the money in a concerned area and keep waiting to act, it should be steady flow of work get done and then move forward," the Minister said.

is gearing up to present the for next fiscal around February 1, advancing the scheduled date by a month so as to complete the entire process by March 31.

image
Business Standard
177 22