How does the Finance Ministry plan to improve quality spending and reduce fiscal deficit in FY26
Government aims to enhance quality spending and lower fiscal deficit to 4.5% in FY26, according to a Finance Ministry report.
- Implementing strict expenditure controls and monitoring mechanisms to ensure efficient allocation of funds.
- Introducing measures to enhance revenue collection through better tax compliance and effective enforcement.
- Focusing on prioritizing spending on key sectors such as healthcare, infrastructure, and education to improve public service delivery.
- Exploring opportunities for public-private partnerships to boost infrastructure development without straining government finances.
- Streamlining subsidies and welfare schemes to target beneficiaries more effectively and reduce unnecessary expenditure.
- Continuing efforts to attract foreign investment and promote economic growth to generate additional revenue.
- Constantly reviewing and adjusting fiscal policies to adapt to changing economic conditions and maintain fiscal discipline.
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6 months ago