Wanted to undertake public expenditure in building infra for modern India, says FM Sitharaman

Finance Minister Nirmala Sitharaman said that in order to attain growth, the government wanted to undertake public expenditure in building infrastructure for a modern India.

New Delhi: Finance Minister Nirmala Sitharaman on Friday (February 11) said in order to attain growth, the government wanted to undertake public expenditure in building infrastructure for a modern India.  

“We thought of maximising the synergic outcome of infrastructure getting built in the forthcoming 25 years, Sitharaman said in Rajya Sabha. 

In order to attain growth, we wanted to undertake public expenditure in building infrastructure for a modern India. We thought of maximising the synergic outcome of infrastructure getting built in the forthcoming 25 yrs: FM Nirmala Sitharaman in Rajya Sabha#Budget2022 pic.twitter.com/KjD5CMln4b — ANI (@ANI) February 11, 2022

She also noted that the Budget 2022 announcement on Rs 7.5 lakh crore spending will create jobs. In a response to a general discussion on Union Budget 2022-23 in the Lok Sabha, she said job creation is not limited to 60 lakh jobs from a productivity linked incentive plan for 14 sectors.

She also pointed out problems with MNREGA stating that the scheme was infested with ghost accounts, people not born were receiving money. 

MNREGA is a 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. Also Read: Budget announcement on Rs 7.5 lakh crore spending will create jobs: FM Sitharaman

She also said banks have sanctioned loans worth Rs 3.1 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS). "Those MSMEs who still want to benefit out of it are welcome to use it... The amount of loan sanctioned under the ECLGS is Rs 3.1 lakh crore and guarantee space is still Rs 1.4 lakh crore," she said in her 100-minute reply to the discussion on Union Budget 2022-23 in Lok Sabha. Also Read: Banks sanction loans worth Rs 3.1 lakh crore to MSMEs under ECLGS: FM Sitharaman