No New Government Schemes For A Year Says Centre

June 05, 2020 17:16
No New Government Schemes For A Year Says Centre

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No New Government Schemes For A Year Says Centre:- The Union Finance Ministry said that there would be no new government schemes for a year. This is taken after the coronavirus hit the country badly in all the available ways. All the ministries have been asked to stop new requests for the schemes to the Finance Ministry. Union Finance Minister Nirmala Sitharaman said that the spending will happen from Prime Minister's Garib Kalyan Package and the announcements that are made under Atmanirbhar Bharat package. Nirmala Sitharaman said that no other scheme would be approved for this financial year.

Finance Ministry said "It may be appreciated that in the wake of the COVID-19 pandemic, there is unprecedented demand on public financial resources and a need to use resources prudently in accordance with emerging and changing priorities,". Even the approved schemes under the budget of this year will stand suspended said the Finance Ministry. Any exception for these new rules will have to be approved by the Expenditure Department of the country. India recorded the slowest GDP growth in 11 years. The government of India announced a package of Rs 20.97 lakh crore after the coronavirus hit.

The total number of coronavirus cases stands at 2,26,770 and India is the seventh worst-hit country in the world because of coronavirus.

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