Govt to plan expenditure with eye on global crises

Ministry confident difference between BE RE of fertiliser subsidy won't be much

- RUCHIKA CHITRAVANSHI

The finance ministry's expenditure management will take into account crises that may arise due to the Israel-Hamas conflict, a senior government official said.

This will enable the ministry to reprioritise spending.

"We have to be intelligent in planning expenditure as the global situation is not very good," the official said.

The ministry's monthly economic review for September said "(fraught) geopolitical conditions", including the recent developments in the Persian Gulf, relentless supplies of US Treasuries, and continued restrictive monetary policy in the US, could affect economic activities in other countries, including India.

Now in the process of holding preBudget discussions with various ministries on their demands for next financial year, the finance ministry has completed talks on 35 of the total of 102 demands.