Finance Minister Nirmala Sitharaman's maiden Budget has ignited heated discussion on the benefits and losses various sectors would face over allocation of funds.
Major changes could be witnessed in certain sectors. The Department of Revenue, under the finance ministry has been awarded the maximum funds in Budget 2019 (BE) at Rs 1,02,048.3 crore (95 percent) against its Revised Estimates (RE) from 2018-19 which was Rs 52,442.41 crore.
Considering ministries with a minimum budget portion of Rs 100 crore, Department of Agriculture, Cooperation and Farmers' Welfare has seen 92 percent increase this year.
The Ministry of Steel has seen a growth in fund allotment of 56 percent, followed by Ministry of Coal at 48 percent and Department of Heavy Industry at 32 percent.
The government's focus on these five ministries is a clear indication of its growth mandate.
The Ministry of Civil Aviation and Department of Law and Justice were the biggest losers as their allocation was cut by 54 and 52 percent, respectively. Cabinet funds saw a decline of 49 percent, followed by Ministry of Textiles which was a 30 percent dip from its revised estimates in 2018-19.
The fund allocation for the Department of Chemicals and Petrochemicals was reduced by 23 percent. Apart from these, the fund allocated for the Ministry of Minority Affairs, Department of Drinking Water and Sanitation, Ministry of Home Affairs, Department of Commerce, Atomic energy remained unaltered.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
