Our Correspondent / NEW DELHI
Finance Minister Arun Jaitley Friday said that fiscal deficit situation, inflation and revenue Deficit in the country was much better in the NDA government than what it was during the UPA regime.
Replying to a debate on the Union Budget-2018-19 in the Rajya Sabha, Mr Jaitley said, the fiscal deficit is qualitatively better and quantitatively lower than it was under UPA.
Giving data, M Jaitley said, when the NDA took over, it inherited 4.5 per cent fiscal deficit from UPA but it brought it down to 3.5 per cent at present. He also said, there were high inflationary rates in the previous regime, but now it is under control.
He also rejected the Congress allegation, adding that fiscal deficit slippage is statistical primarily due to shortfall of GST revenue of one month in current fiscal. Mr Jaitley said, UPA had unacceptable level of current account deficit and under BJP rule it has been less than one per cent.
He said, the government has covered the journey from policy paralysis to structural reforms.
The Finance Minister said, tax net has widened and direct tax collection up 19.3 per cent in April to January this year over previous year as a result of campaign against black money and GST.
He said, anti-evasion measures will help more collection of tax. He said, NDA government felt that MGNREGA should be continued for larger interest and UPA was never able to spend 40 thousand crore rupees sanctioned for the scheme. He said, this year, 55 thousand crore rupees have been allocated for MGNREGA and 1.70 lakh crore rupees for food subsidy.