India Economic Survey 2023: Continuously increased expenditure on social service sector, now government expenditure of Rs 21 lakh crore in the ongoing financial year


An estimate of 21 lakh crore will be spent on the social work sector in the ongoing financial year.
This will be 8.3 percent of GDP and 26.6 percent of total expenditure.
In this, an increase of more than 1 percent has been registered since 2016.

New Delhi. Union Finance Minister Nirmala Sitharaman (Finance Minister Nirmala Sitharaman) also gave an account of the government’s expenses by keeping the Economic Survey (India Economic Survey 2023) in Parliament today. It has been told in the Economic Survey that in the ongoing financial year, the central and state governments have jointly spent Rs 21.3 lakh crore on social works. There is a continuous increase in this expenditure. It is estimated to be 26.6 percent of the total government expenditure in the ongoing financial year. Whereas in the last financial year it was 26.1 percent.

According to the Economic Survey, since the financial year 2016, an increase has been registered in it and it has increased from 25 percent to close to 27 percent. In the financial year 2017-18, it is expected to be 25.2 per cent of the total expenditure, 25.4 per cent in 2018-19, 25.2 per cent in 2019-20, 23.3 per cent in 2020-21, 26.1 per cent in 2021-22 and 26.6 per cent in 2022-23. Have an estimate.

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where did it cost
The central and state governments jointly spent Rs 681396 crore on education in 2021-22. Which is likely to increase to Rs 757138 crore in this financial year. After this, Rs 516427 crore was spent on health in the last financial year. This time it is estimated to reach Rs 548855 crore. On other social service works, both the governments had spent Rs 746191 crore in the last financial year, which may increase to Rs 826065 crore this time. In terms of GDP, in the last financial year, 8.2 percent of the amount was spent on social service works, which is likely to increase to 8.3 percent this time.

backward in human development
The Economic Survey states that according to UNDP data, India was ranked 132nd in the Human Development Index (HDI) in 2021. The country’s HDI value was 0.633 percent which was less than 0.645 in 2019. However, India’s HDI value is higher than the average human development value of South Asia. The Economic Survey said that 90 percent of the countries included in the list had recorded a decline in their Human Development Index in 2020 or 2021. This means that it was seen not only in India but in countries all over the world. India is very close to the global average of 0.465 on the parameter of gender inequality, while it is better than the average value of the South Asian region.

Tags: business news in hindi, Economic survey, FM Nirmala Sitharaman, GDP growth, Indian economy

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