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PRUDENT FISCAL MANAGEMENT


Stepped up allocation for Capital expenditure by 25.4% over the previous year.

Total resources being transferred to the States and the Union Territories with Legislatures is Rs. 4.11 lakh crores, against Rs. 3.60 lakh crores in BE 2016–17.

For the first time, a consolidated Outcome Budget, covering all Ministries and Departments, is being laid along with the other Budget documents.

FRBM Committee has recommended 3% fiscal deficit for the next three years, keeping in mind the sustainable debt target and need for public investment, fiscal deficit for 2017–18 is targeted at 3.2% of GDP and Government remains committed to achieve 3% in the following year.

Net market borrowing of Government restricted to Rs. 3.48 lakh crores after buyback in 2017–18, much lower than Rs. 4.25 lakh crores of the previous year.

Revenue Deficit of 2.3% in BE 2016–17 stands reduced to 2.1% in the Revised Estimates. The Revenue Deficit for next year is pegged at 1.9%, against 2% mandated by the FRBM Act.