"The steps that I will announce in this Budget are only the beginning of a journey towards a sustained growth of 7-8 per cent or above within the next 3-4 years along with macro-economic stabilisation that includes lower levels of inflation, lesser fiscal deficit and a manageable current account deficit," Jaitley explained while presenting his maiden Budget.
The government's total expenditure for 2014-15 was pegged at Rs 17,94,892 crore, 1.79 per cent more than the interim Budget of February and almost 13 per cent more than the 2013-14 revised estimates (RE).
In contrast, Jaitley estimated total revenue expenditure in 2014-15 at Rs 15, 68, 111 crore, just 1.16 per cent more than the interim Budget and 12 per cent more than the RE of 2013-14.
This focus is also reflected in Plan expenditure for 2014-15. Plan expenditure on capital account is estimated at Rs 121,497 crore, around 7.47 per cent more than the interim Budget. On revenue account, however, the expenditure has been pegged at Rs 453,503 crore, just 2.55 per cent more than the interim Budget.