Thursday, Mar 28 2024 | Time 14:13 Hrs(IST)
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Business Economy


Budget 2017-18 aimed at setting off streamlining expenditure: J&K FM

Jammu, Jan 16 (UNI) Welcoming the broader consensus reached in the House regarding various reformative initiatives flagged in the Budget 2017-18, Minister for Finance Dr Haseeb Drabu today said it marks the beginning of a progressive trend with the members in agreement that there has to be a tangible roadmap for the economic development of the state.
He said the Government is aiming at streamlining the expenditure under the current Budget with systematic spending initiatives, adding that the reforms introduced in the budget are a first steps towards bringing economic stability in the state.
"The Government has benefited from the exhaustive discussions on the Budget proposals and various valid points have been made by the members during the debate,’’ Dr Drabu said while winding up the discussion on the Budget in the Legislative Assembly today.
He said the contribution of the members would come handy for the successful implementation of the reforms and initiatives proposed in the Budget.
Responding to the points raised by the legislators, Dr Drabu said the first budget, presented by this Government, focused on macro-budgetary matters wherein the fiscal strategy was outlined; in the second one, attention was paid to distributive issues pertaining to allocative efficiency.
He said present Budget focuses on the micro-budgetary reforms; operations of Government programs and executing agencies.
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