Union Budget 2020 | Government very transparent in setting new fiscal deficit target: Nirmala Sitharaman
New Delhi | Jagran Business Desk: Two days after tabling the Union Budget 2020-21, Finance Minister Nirmala Sitharaman said that the government has been very transparent in setting the new fiscal target, which has been pegged at 3.5 per cent for the upcoming fiscal.
Sitharaman said that there are a lot of speculations regarding the fiscal deficit. Earlier, there was a situation in the previous regime where fiscal deficit numbers were fudged. We are not going to do that, she said while speaking at an event held by FICCI in the national capital.
We expect the industry to move the economy forward. The government is there to support the industry. We are putting money where assets have to be created. We have given the roadmap. The Budget is not sector-specific. The attempt is to take a prudent route to achieve the targets set," she added.
She further said that many people have been speculating that the fiscal deficit would cross 4 per cent. "We may have a situation wherein you want the government to spend on pump-priming the economy," she said.
"We are putting money where assets have to be created. We have given the roadmap. The budget is not sector-specific. An attempt is to take a prudent route to achieve the target set," the Finance Minister said.
Sitharaman added that the government should not repeat the mistakes of the previous regime of splurging that happened, adding that the money being spent now is for asset creation.
When she was questioned on 'why was Sensex not happy on Budget day', she replied that the market was in a positive mood on Monday.
"But I see them being happy today. Monday is the true working mood, and today's mood is that they are happy. Aren't they? Not exuberant but happy somewhat," she said.
(with ANI inputs)
Posted By: James Kuanal