PlanCom expects less than 15% hike in GBS for 2013-14
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PlanCom expects less than 15% hike in GBS for 2013-14

Last Updated: Thursday, January 24, 2013, 20:33
 
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PlanCom expects less than 15% hike in GBS for 2013-14
New Delhi: Planning Commission is expecting less than the proposed 15 percent increase in Plan expenditure or gross budgetary support (GBS) for development programmes for 2013-14 over the budget estimates of the current fiscal.

"The issue of GBS is discussed in a meeting called by Prime Minister Manmohan Singh. The Commission has proposed 15 percent hike in GBS but the actual rise may be less than that in view of financial constraints," a source privy to the development said.

The meeting to discuss the issues related to overall GBS and allocation of Plan expenditure of individual ministries was attended by the Planning Commission Deputy Chairman Montek Singh Ahluwalia and Finance Minister P Chidambaram.

The plan expenditure or GBS is the government spending on social sector schemes such as Bharat Nirman, rural employment guarantee and National Rural Health Mission. Besides, it includes Centre's assistance to various states and Union Territories Plans.

"The Commission has proposed the 15 percent increase in the GBS over the budget estimates of this fiscal but it is quite possible that it might be 15 percent of the revised estimates of 2012-13", the source said.

Generally, the revised estimates of the Plan expenditure is less than the budgeted estimates as the ministries and departments often fail to exhaust the entire funds provided to them.

The government had approved Rs 5.21 lakh crore GBS for the current fiscal which was 18 percent higher than the budget estimate of Rs 4.41 crore for 2011-12.

However, the jump in the Plan expenditure for 2012-13 was 22.13 percent when compared with the revised estimates of the same for 2011-12 at Rs 4.26 lakh crore.

According to the Approach Paper to the 12th Plan, the Commission has pegged a plan expenditure of Rs 5.83 lakh crore for 2013-14, which is around 12 percent more than the budgeted plan expenditure for the current fiscal.

The 12th Five Year Plan (2012-17) has envisaged total GBS of Rs 35.68 lakh crore during the five year policy period as compared to Rs 15.89 lakh crore realised in the 11th Plan (2007-12) at current prices.

PTI



First Published: Thursday, January 24, 2013, 20:33


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