With the exchequer severely stressed amid weak tax collections, the Finance Ministry has decided to cut the expenditure plan for the remaining period of the current fiscal.
According to an office memorandum by the Budget Division of the Economic Affairs Department under the Finance Ministry, considering the fiscal position of the government in the current fiscal, it has been decided to cap the expenditure at 25 per cent of the Budget Estimate down from 33 per cent during the last quarter (January-March).
Similarly, the cap for March will be 10 per cent against the current 15 per cent. For January and February, the revised limit will be 15 per cent against the BE of 18 per cent.
Esta historia es de la edición December 31, 2019 de The Hindu Business Line.
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Esta historia es de la edición December 31, 2019 de The Hindu Business Line.
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