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Fiscal prudence adopted by govt to act as strong foundation in achieving Viksit Bharat goal: Vualnam
Sep-25-2026

Expenditure Secretary V Vualnam has said that fiscal prudence adopted by the government will serve as a firm foundation in achieving India's Viksit Bharat goal. Moreover, he said while the central government has been focusing on increasing capital expenditure, it is encouraging states to boost infrastructure spending by providing 50-year interest-free loans under a scheme. He said the focus on fiscal prudence, especially in the last few months when the external sector has been ‘unpredictable and volatile’, has provided a ‘very strong foundation’ to achieve Viksit Bharat goal by 2047. He said ‘So fiscal prudence is something that would give us the foundation as we move forward as a country looking at Viksit Bharat.’

The government is also aiming to utilise information technology to channelise funds towards social sector schemes and subsidies. He said about Rs 5 lakh crore every year is disbursed under centrally sponsored schemes to all states combined through a digitised system -- Public Financial Management System (PFMS). He stated ‘The public money that we manage, is now exactly sent where it is required, to the exact beneficiary or to the exact project that it is required. So, on one side the IT systems are helping us, but it is also a wealth of data that is generated.’

Besides, he said the government now has a database, which include land holding, type of crops, of about 10 crore farmers. He added ‘In fact, the government is looking at how this agri-stack can be used in the distribution of fertilisers so that it is better targeted -- how it goes to the exact farmers depending on the land that he is cultivating, depending on the crops that he is cultivating.’
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