2024-02-01 13:17:14
Thiruvananthapuram – Finance Minister KN Balagopal said that the Union Budget does not mention things that will stimulate the economy. An anti-recession package was needed. Modi guarantee is only in speech. The budget is disappointing. The budget was a repeat of the past. Balagopal also accused the central government of borrowing as it felt that Kerala should not borrow more than a certain percentage in the central budget documents.
The Center borrowed 5.8% of GDP this year. Last year it was 6.4%. The Center says it will borrow 5.1% next year. The central directive is that only three percent of Kerala’s total domestic income should be borrowed. FRBM (Physical Responsibility and Budget Management Act) applies equally to Kerala and the Centre. Kerala’s domestic revenue is 11 lakh crores. Income will increase further this year. Kerala can borrow three percent of the 11 lakh crore. The Center can also borrow the same three percent. But the central debt is huge amount like 2 lakh crores. Those who borrow 5.8% instead of 3% say that Kerala should borrow only 3%. Earlier, only 2.5 percent loan was allowed in the name of Kifbi. A quarter of the Centre’s expenditure is borrowed. Balagopal also pointed out that the Center is paying 25% of the borrowed money as interest.
21,300,407 to be collected by the Center as tax. Out of which Rs.9,80,430/- is the undisputed amount. 27000 crores to the state as well. In the budget, money has been reduced in each sector. Balagopal said that there is a freeze in the financial sector.
English Summary:
Modi guarantees only in speech. kn balagopal said that the central government is borrowing money as it seems
#Modi #guarantee #speech #Modi #guarantees #speech #Union #Budget #Malayalam #news