Finance Minister Nirmala Sitharaman is all set to present the Union Budget 2019 on Friday at 11:00 am at the Parliament. After coming to power in the second term in the 2019 Lok Sabha elections, the Prime Minister Narendra Modi-led NDA government is seeking to address all sections of the society in its second budget of 2019.
From key areas of national interest like Railways and Defence to social sectors including health and education, here is an account of where the PM Modi-led government will be spending the exchequer’s money under the Union Budget 2019:
With the focus on providing higher education, the government spends a substantial amount of the budget in the education sector, while keeping aside a set budget for the construction of institutions including IIMs, IITs, and AIIMS. A Higher Education Funding Agency (HEFA) has also been set up for the smooth functioning of the goal.
It is the need of the hour for allocation of modest budget share in the health sector, with the increasing medical conditions in the hospitals and other medical institutions. Government's flagship programme Ayushman Bharat, which is notably, one of the world’s largest government-funded healthcare programme, provides health cover of upto 5 lakh to the insured families. The highest part of the budget allocations of the Ministry of Health and Family Welfare goes into the National Health Mission, of which The Ayushman Bharat Programme is a part.
With the Indian farmers burdened with severe financial debts, the Union Budget is expected to raise the agricultural credits. A section of funds is allocated for farmer-welfare schemes including the Pradhan Mantri Krishi Sinchai Yojana and Pradhan Mantri Fasal Bima Yojana.
The government spending of India increased from Rs 3411.26 billion in the fourth quarter of 2018 to Rs 3686.66 billion in the first quarter of 2019. It averaged to Rs 2065.20 billion in from 2204 to 2019. It was the highest in the third quarter of 208 (Rs 40.86.45 billion) and lowest in the second quarter of 2004 Rs 735.82 billion.