Finance Minister Nirmala Sitharaman has said that the Central Government is governed by the principle of Minimum Government – Maximum Governance and it presented the same philosophy through the Union Budget 2021-22. Ms. Sitharaman mentioned that the government has spent big on those areas of activity which gives a big multiplier effect.
Ms Sitharaman said this in a virtual event – Demystifying Union Budget 2021-22 which was organised by the PHD Chamber of Commerce and Industry.
She said, the government is also taking steps to carefully monitor the fiscal deficit. She said, the government has managed to make the Union Budget transparent and whatever the government is borrowing or spending is open for everyone to see.
The Finance Minister also mentioned that the government can give stimulus package to revive the economy. However, funding the long-term infrastructure financing is the job of the Development Finance Institution (DFI). She said that it is not the job of just one DFI, but it is an opportunity for private DFIs to come into play.