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₹90.9 Trillion Spent On Development In Last Eight Years: Finance Ministry


NEW DELHI :

The central authorities’s complete 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 companies, stated an announcement 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 information exhibits complete developmental expenditure incurred by Modi authorities in 2014-22 was 90.9 trillion, far increased than is being alleged by some sections of the Opposition. In distinction, solely 49.2 lakh crore was spent on this throughout 2004-14,” stated the assertion.

The assertion stated quoting RBI figures that the expenditure incurred by the Modi authorities consists of 24.85 trillion spent up to now on meals, gas 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 up to now 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 will probably be paid by 2026,” the assertion stated.

“It’s clear then, that the collections from the gas tax have been put to good use as developmental expenditure,” stated 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 gas and financing of welfare measures, arguing that the poor pay for their very own welfare.

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