FinMin to review flagship schemes, tweak spending

The exercise may redirect resources toward employment, skill-based programmes

- Rhik Kundu & Subhash Narayan

The Centre will shortly begin a mid-term review of its key economic and welfare programmes to fuel growth and spark job creation, according to two people familiar with the matter.

The exercise, led by the ministry of finance and slated to begin next month, is expected to redirect resources toward employment initiatives and potentially increase allocations for entrepreneurship and skills-based programmes, the people said, asking not to be named as the discussions are private.

"The mid-year review of various schemes and proposals is intended to build on earlier steps like GST rate cuts and income tax relief announced in the Union budget, with the aim of amplifying their impact and stimulating consumption," one of the two people cited above said. "Budget allocations for key schemes will be reviewed and could be scaled up where necessary," the person added.

A finance ministry spokesperson didn't respond to emailed queries.