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Increase in fund allocations due to early Budget
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.
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.