FM gives a ‘booster shot’ for growth

■ Continued from Page 1 growth and more jobs’. There is also a new provision of green jobs; the Budget ensures a bright future for the youth,” said Mr Modi.

In this Budget, total expenditure for the financial year 2022-23 has been pegged at `39.45 lakh crores, while total receipts other than borrowings are estimated at `22.84 lakh crores in FY23. However, the finance minister said the outlay for capital expenditure in the Budget is once again being stepped up sharply by 35.4 per cent — from `5.54 lakh crores in the current year to `7.50 lakh crores in 2022-23, while the FY23 effective capex is seen at `10.7 lakh crores. “The Budget has laid great emphasis on providing a big push to infrastructure spending with an aim to revive the Covid pandemic-hit economy. Spending will be stepped up to `39.45 lakh crores in the coming fiscal year, thereby pushing up the fiscal deficit more than the target,” Ms Sitharaman said in her speech. Trillions of rupees will be allocated to expressways, affordable housing and solar manufacturing to put growth on a firmer footing. The total government spending is likely to be 4.6 per cent more than the current year,” she said.