PM Modi says advancing Budget helped increase overall spending by 30%

The Union Budget, which was advanced to February 1 this year, helped in boosting spending by 30%.

Prime Minister Narendra Modi, during the all-party meet, said advancing the Budget by a month helped increase overall expenditure by nearly 30%, with a 48% rise in spending on infrastructure development.

He said due to this advancement, several departments received funds before monsoon season and were able to take up and implement schemes.

"Earlier, it used to take two to three months for the funds allocated to the schemes to reach up to the departments. The implementation was delayed due to the monsoon. It did not happen this time and there has not been any lag period after March. It has also provided three months additional time for the completion of infrastructure projects," said Modi.

During the meet, he also thanked lawmakers for their support on goods and services tax (GST).

“The introduction of the GST regime, with the support of all parties, had strengthened the federal structure and brought about economic solidarity in the country,” Modi added.

Several economic legislations are listed for discussion during the Parliament session, including amendments to the Companies Act, which have been pending. While the bill had been introduced, the revised legislation incorporating the suggestions of the standing committee will be debated in both the Houses.