Union Finance Minister Nirmala Sitharaman on Thursday, Feb. 12, said in the Rajya Sabha that steps taken in the Budget prove the country's resolve to build a resilient, self-reliant India and urged the House members to ask their respective state governments to participate in schemes announced in the Budget. She also countered attacks by the Opposition parties of expenditure curtailment in several welfare schemes and said there is no denial or stoppage of funds to states on any schemes.
''It is wrong to say that we have slashed funds. In the past, success was measured by how much money was pushed out of the treasury, without actually ensuring whether it was being spent or not. It also created a huge float in the banking system. We now have absolute transparency in the government spending process,'' said FM Sitharaman in the Upper House.
''We do not blindly release more funds just because we need to book expenditure; we release funds only when they are required at the ground level. There is no denial or stoppage of funds to any State or any scheme. Every rupee of the taxpayer is accounted for. The Centre's funds are not a free pool of cash that can be used at will. They are the hard-earned contributions of every Indian,'' added FM Sitharaman.
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Comparing the expenditure on government schemes, she said only Rs 37,000 crore was unspent in 14 social sector schemes in the last 10 years, compared to Rs 94,000 crore during the previous UPA-era regime. FM Sitharaman also rubbished Opposition criticism of announcing schemes without allocation, citing many cases during the previous UPA government.
She further informed that the government has sent over Rs 48 lakh crore directly into accounts of beneficiaries through DBT and saved Rs 4.31 lakh crore by plugging leakages. ''The Budget is never forgetful of past; it remembers fragile days, double-digit inflation, she said. Now there is no inflation crisis in India today; it has been tamed,'' the Finance Minister said.
''I urge all parties and Hon'ble Members to encourage their respective State Governments to participate actively in the schemes that have been announced. Many of these will operate in a challenge mode, so the sooner they come forward with comprehensive planning - keeping in mind all the parameters under the PM's Gati Shakti framework - the better it is. Any State that comes forward for these mega schemes that we have announced stands to benefit,'' said FM. Inflation has never been lower than what it is today, she said. Now, India maintains its low inflation, which is not by chance, but by strategy, she added.
FM Sitharaman said the country is passing through a rare phase, when it has "macro-economic balance, which is unique to achieve". "It is an achievement of the entire country. You are having a good, high rate of growth of the GDP, and there is a low inflation, which is being held at that kind of a level continuously," she said. She also informed that the government is establishing an 'Education to Employment and Enterprise' Standing Committee in the 2026-27 budget to prepare youth for the services sector.
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