Saturday, Jul 27, 2024 10:00 [IST]
Last Update: Saturday, Jul 27, 2024 04:22 [IST]
NEW DELHI, (IANS): Finance Minister Nirmala Sitharman said on Friday that just like in
the past, all states have been allocated funds in the Union Budget 2024-25, and
no state has been denied anything.
In an exclusive interview with Sanjay Pugalia, CEO and
Editor-in-Chief of NDTV Network, the Finance Minister rejected the opposition’s
claim that her Budget speech mentioned only two states -- Andhra Pradesh and
Bihar, both ruled by the BJP's key allies.
She pointed out that the Centre was required by law to
support Andhra Pradesh after its bifurcation in 2014.
"States are receiving allocations as they did in the
past... no state has been denied anything. The Act (Andhra Pradesh
Reorganisation Act) requires the Centre to support (the state) in building its
capital city and developing the backward regions," she explained.
"Several steps have been taken in the last 10 years
and many other steps, as per the Act, which had to be taken have been taken.
Yes, we will support the building of the new capital at Amaravati and the
Polavaram irrigation project ... Polavaram should have been completed by now
but there were some technical issues. The state government is seized of the
matter," Sitharaman said.
Responding particularly to the criticism by Congress
President Mallikarjun Kharge, the Finance Minister said, "To the point he
raised - that I have not named many states and spoke only about two states...
The Congress was in power for a long time. They presented many Budgets and
should know that in every Budget, you don't get an opportunity to name every
state of the country."
Sitharaman also said the Budget reflected Prime Minister
Narendra Modi's wish to keep things simple, so that everyone, and not just
subject experts, could understand India's finances.
"We present everything upfront. There is no fine
print... We ensure that any changes made are communicated openly, based on
feedback and transparent processes," she pointed out.
The Finance Minister also said that borrowing is a must
for a growing economy to meet its needs and aspirations, but the focus of the
Finance Ministry under her is to ensure that debt is reduced without affecting
growth.
She added that fixing a number for the eventual fiscal
deficit and working towards it with temporary solutions every year can be one
way of going about things, but it is not the right way from a macroeconomic
perspective.
"We have chosen a healthy option for getting the
fiscal deficit closer to the number. Instead of looking at the number alone, it
is also about the way you decide to get there. An obvious method for every
country is to reduce debt, but borrowing is a must for a growing economy. The
question is how much are you borrowing and where it is being used," the
Finance Minister said.