Union Finance Minister P. Chidambaram on Thursday announced that the plan expenditure in 2013-14 will be 29.4 percent more than the revised estimate of the current year.
Presenting the Union Budget 2013-14 in the Parliament, 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.
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.