PRUDENT FISCAL MANAGEMENT in Budget 2017 - 2018
- Stepped up allocation for Capital expenditure by 25.4% over the previous year
- Total resources being transferred to the States and the Union Territories with Legislatures is ` 4.11 lakh crores, against ` 3.60 lakh crores in BE 2016-17
- For the first time, a consolidated Outcome Budget, covering all Ministries and Departments, is being laid along with the other Budget documents
- FRBM Committee has recommended 3% fiscal deficit for the next three years, keeping in mind the sustainable debt target and need for public investment, fiscal deficit for 2017-18 is targeted at 3.2% of GDP and Government remains committed to achieve 3% in the following year
- Net market borrowing of Government restricted to ` 3.48 lakh crores after buyback in 2017-18, much lower than ` 4.25 lakh crores of the previous year
- Revenue Deficit of 2.3% in BE 2016-17 stands reduced to 2.1% in the Revised Estimates. The Revenue Deficit for next year is pegged at 1.9% , against 2% mandated by the FRBM Act
