Union Budget 2019 math: Government will be borrowing Rs 80.36 crore per hour!

Government will spend Rs 7627 crore per day. But it earns only Rs 5418.33 crore per day. So, it will borrow Rs 1928.76 crore per day...

Published: 01st February 2019 03:56 PM  |   Last Updated: 02nd February 2019 12:21 AM   |  A+A-

Budget, Piyush Goyal

Delivered by Finance Minister Piyush Goyal, the budget speech was heavy on praise for the government’s programs over the last four-and-a-half years -- sometimes prompting boos from the opposition. (Photo | PTI)

By Online Desk

Piyush Goyal's budget was expected to go after the voters and so it did - showering sops on almost all and sundry.

With Lok Sabha Elections 2019 a few months away, re-election economics took over.

The Modi government rolled out direct income benefits - though only Rs 500 a month - for farmers with less than two hectares of land, ladled out an additional Rs 2.5 lakh in taxless income for those earning upto Rs 5 lakh and assured a monthly pension of Rs 3000 for those in the unorganised sector.Our columnist Shankkar Aiyar called the "well-written and well-presented budget 2019" one that "ticked all boxes targetting farmers, middle class, organised and unorganised workers, pensioners and women".

He was even appreciative of the sops, which he said promise to stimulate demand and so will be positive for the economy.

But he noted that the long-suffering landless and tenant farmers remained forgotten.

An even bigger worry for Shankkar Aiyar was the fiscal math which he said was fuzzy given the shortfall in disinvestment and GST collection.

To get a sense behind the numbers in the budget, Aiyar went on to do the math behind it before sharing his finding on the money that the government would have to borrow every hour to fund its plans.

Here, then are the results of his number crunching:

The government will spend Rs 7627 crore per day. But it earns only Rs 5418.33 crore per day. So, it will borrow Rs 1928.76 crore per day... That is Rs 80.36 crore per hour.

Also Watch: Q&A with Prabhu Chawla 18: Budget 2019- Another exercise in futility

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  • MS Shanker

    The borrowing looks better than Congress loot.
    6 months ago reply
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