Coronavirus crisis: No new schemes till March 2021
The country's economy has been badly affected by the corona crisis and the lockdown. This has led to a loss of revenue
New Delhi: The country's economy has been badly affected by the corona crisis and the lockdown. This has led to a loss of revenue and increased government spending. This situation has begun to affect the government's new plans.
In fact, the central government has blocked the launch of new schemes. The Finance Ministry has postponed the launch of new schemes approved by various Ministries and Departments for the next 9 months or till March 2021.
However, there will be no ban on the poor welfare schemes of self-reliant India and the Prime Minister. The order issued by the government clearly states that the various ministries should not start new schemes. The Prime Minister should focus on the schemes announced under the Garib Kalyan Yojana or Atma Nirbhar Bharat Abhiyan.
The order said that the introduction of new schemes already approved or approved in the financial year 2020-21, including the proposals of the Standing Finance Committee, would be suspended for one year.
The Finance Ministry has taken this important decision due to the Corona crisis, as the government is getting less revenue. The report available with the Comptroller and Auditor General shows that the revenue during April 2020 was Rs 27,548 crore, which was 1.2% of the budget estimate. The government spent Rs 3.07 lakh crore, which was 10 per cent of the budget estimate.
The Finance Ministry had said that the estimated debt in the financial year 2020-21 would be Rs 12 lakh crore instead of Rs 7.80 lakh crore. Figures provided by the regulator of accounts show that the estimated fiscal deficit in the first month of the financial year was more than one-third.