SRINAGAR: Contrary to everyone’s expectation about Government response to a high fiscal deficit, Finance Minister Haseeb Drabu today said he wanted it to go up to generate employment by spending more on capital expenditure.
“The Government of India (GoI) has asked to decrease fiscal deficit, but I believe that we should not do that. This is not the first time I saying it. I have been saying this from the last five years. Because the State fiscal deficit is not marginalised, It doesn’t have that impact,” Dr Drabu said while replying to the Budget discussion in the Legislative Assembly.
Terming increasing fiscal deficit as a conscious policy of the Government, he said, “By investing more than what we have in developmental projects we will engage more youth and give them means to earn their livelihood.”
Asserting that Government can’t give jobs to everyone, he said providing Government job should not be a last resort to overcome the unemployment problem. “We have to generate employment and there is only one way to do so which is to spend more, not on yourself, but on capital expenditure,” he said. (AGENCIES)
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