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NEW DELHI :
The central authorities’s whole developmental spending within the final eight years was ₹90.9 trillion, which went to objects like capital expenditure for productive property, meals and fertilizer subsidies and social providers, mentioned a press release from finance minister Nirmala Sitharaman’s official Twitter account.
The clarification comes within the context of opposition criticism about excessive taxes on petrol and diesel and the federal government’s welfare spending.
“RBI knowledge exhibits whole developmental expenditure incurred by Modi authorities in 2014-22 was ₹90.9 trillion, far larger than is being alleged by some sections of the Opposition. In distinction, solely ₹49.2 lakh crore was spent on this throughout 2004-14,” mentioned the assertion.
The assertion mentioned quoting RBI figures that the expenditure incurred by the Modi authorities consists of ₹24.85 trillion spent to this point on meals, gasoline and fertiliser subsidies and ₹26.3 trillion on capital creation. Over the ten years of United Progressive Alliance (UPA), solely ₹13.9 trillion was spent on subsidies, the assertion alleged.
“The developmental expenditure incurred by the Modi authorities of ₹90.9 trillion to this point is over and above the ₹93,685.68 crore already spent between 2014-22 on repaying the UPA-era oil bonds. Additional, an extra ₹1.48 trillion might be paid by 2026,” the assertion mentioned.
“It’s clear then, that the collections from the gasoline tax have been put to good use as developmental expenditure,” mentioned a authorities official who spoke on situation of not being named.
The clarification quoting figures from the RBI comes within the context of former finance minister P Chidambaram’s views expressed in a latest newspaper column about excessive taxes on auto gasoline and financing of welfare measures, arguing that the poor pay for their very own welfare.
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