New Delhi: “Government will not approve any new scheme for a year,” said the Union Finance Minister Nirmala Sitharaman. She added the initiation of new schemes will remain suspended for a year till March 31, 2021. The Finance Minister also requests all the state ministers to not send any request in terms of new schemes. This initiative is taken in awake of the COVID-19 crisis.
This announcement has been made to restrict the government’s funding. The fund will be spent under the scheme of Prime Minister’s Garib Kalyan Package, Aatma Nirbhar Bharat Abhiyan Package, or other many special packages. As per the Government official, there is a need to use resources carefully in peace with emerging and changing priorities. However, Sitharam informed that the schemes which are ongoing in current fiscal will continue to operate till March 31, 2021. After new economic packages declare by the Central government, the expenditure department has been receiving hectic requests from ministries seeking approvals for new proposals and schemes.
As remember, the Prime Minister of India Narendra Modi announced Rs 20 lakh crore package to extend support in many sectors. Currently, India is the seventh worst-hit nation after the US, Brazil, Russia, the UK, Spain, and Italy but only In terms of active cases, however, the recovery rate is better than other countries.