Govt committed to fiscal consolidation without compromising on expenditure, says FM Nirmala Sitharaman

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Published: July 10, 2019 4:55:14 PM

Replying to the general discussion on Budget 2019-20 in the Lok Sabha, the minister also said the government has set the fiscal deficit target at 3.3 per cent of GDP for 2019-20.

 finance ministry, fiscal consolidation, expenditure, Nirmala Sitharaman, public expenditure, MSP, economy news,finance ministerFinance Minister Nirmala Sitharaman (Image: PTI)

Finance Minister Nirmala Sitharaman Wednesday said the government is committed to follow the path of fiscal consolidation without compromising on public expenditure. Replying to the general discussion on Budget 2019-20 in the Lok Sabha, the minister also said the government has set the fiscal deficit target at 3.3 per cent of GDP for 2019-20.

“We will move GST Council to reduce the GST rate on e-vehicles from 12 per cent to 5 per cent,” she said. The minister said the government’s intention is to push infrastructure development and invest over Rs 100 lakh crore in the next five years. She said the government has increased Minimum Support Price (MSP) for all 22 commodities.

Sitharaman further said the governmment has been taking several steps to achieve USD 5 trillion economy by 2024-25.

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