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Construction : Web Exclusive | July 2017 | Source : CW-India

Increase in fund allocations due to early Budget

Early bud­get ad­vance­ment has led to a massive in­crease in al­lo­ca­tion of funds to various departments, infrastructure and ru­ral schemes. The bud­get pre­sen­ta­tion was moved up from Fe­bru­ary 28 to Fe­bru­ary 1, which al­lowed the fi­nance bill to be passed on March 31, un­like pre­vi­ous years wherein the bill would not pass before May.

A recently released data reveals that ex­pen­di­ture for April-May 2017 was nearly 4.59 lakh crore, a 54 per cent increase compared to the 2.98 lakh crore in the same period in 2016.

Min­istry of Hous­ing and Ur­ban Poverty Al­le­vi­a­tion (HUPA) witnessed the largest percentage increase in fund allocation. Officials reported a whopping 400 per cent increase in funds for HUPA; approximately Rs 3,000 crore has already been sanctioned for the ministry as compared to the Rs 599 crore allocated last year.

The Min­istry of Road Trans­port and High­ways was also a major beneficiary as its allocation increased 76 per cent from about Rs 9,235 crore in 2016 to Rs 16,293 crore in April-May 2017. The Min­istry of Health and Fam­ily Wel­fare observed a gain of about 56 per cent as it was allocated Rs 7,784 crore compared to Rs 5,000 crore last year.

The in­for­ma­tion tech­nol­ogy de­part­ment received Rs 699 crore in April-May, a 177 per cent increase from the same period in 2016. The agri­cul­ture min­istry was al­lo­cated Rs 13,094 crore, as com­pared to Rs 6,700 crore it received last year, a jump of 95 per cent.

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