Budget announcement on Rs 7.5 lakh crore spending will create jobs: FM Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman on Friday said that the Budget announcement on Rs 7.5 lakh crore spending will create jobs. 

Replying to the general discussion on Union Budget 2022-23 in the Lok Sabha, Sitharaman said job creation is not limited to 60 lakh jobs from productivity linked incentive plan for 14 sectors.

She also highlighted problems with MNREGA stating that the scheme was infested with ghost accounts, people not born were receiving money. MNREGA is demand driven programme, meant to provide jobs to rural unemployed in lean season; whenever demand comes it is funded. Rs 73,000 crore provided for rural employment guarantee scheme MNREGA, will give more if demand comes, FM said in her Budget reply.

Sitharaman said India would be the fastest-growing major economy across the world in the coming at least three years.

On inflation, the Finance Minister said the Modi government has managed inflation efficiently despite huge disruptions caused by the COVID-19 pandemic. Inflation was 9.1% during lesser financial crisis of 2008-09, while it is at 6.2% during pandemic that has bigger impact on economy.