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Fiscal Prudence Fuels Viksit Bharat Goal: Expenditure Secretary
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News18•24-09-2026, 17:45
Fiscal Prudence Fuels Viksit Bharat Goal: Expenditure Secretary
- •Expenditure Secretary V Vualnam stated that the government's fiscal prudence will be a strong foundation for achieving India's Viksit Bharat goal by 2047.
- •The central government is increasing capital expenditure and encouraging states to boost infrastructure spending through 50-year interest-free loans.
- •Fiscal prudence has provided a "very strong foundation" for the Viksit Bharat goal, especially amidst an "unpredictable and volatile" external sector.
- •The government utilizes information technology, specifically the Public Financial Management System (PFMS), to channel approximately Rs 5 lakh crore annually for centrally sponsored schemes.
- •A database of about 10 crore farmers, including land holdings and crop types, is being explored to better target fertilizer distribution based on specific cultivation needs.
Key Questions Answered
Expenditure Secretary V Vualnam stated that the government's focus on fiscal prudence acts as a strong foundation for achieving the Viksit Bharat goal by 2047, especially during periods of external economic unpredictability and volatility.
The government disburses about Rs 5 lakh crore annually to states through a digitised system known as the Public Financial Management System (PFMS), ensuring public money is sent precisely to required beneficiaries and projects.
The government utilizes an agri-stack database containing land holdings and crop details of about 10 crore farmers to better target fertiliser distribution based on the specific land and crops being cultivated.
