New Delhi, Feb 5, 2016 (PTI)
Budget for the next fiscal needs to provide Rs 1.10 lakh crore for implementing the OROP and 7th Pay Commission award, besides a higher allocation for the farm sector, Finance Minister Shri Arun Jaitley said today.
Addressing the Consultative Committee attached to the Finance Ministry, he also said that India has potential to grow at a much faster pace even as he exuded confidence that fiscal deficit target for current financial year will be within target.
"During the financial year 2016-17, the central government has to make provision for about Rs 1.10 lakh crore in order to meet the liabilities on account of implementation of 7th Pay Commission recommendations and One Rank One Pension (OROP) Scheme," Finance Minister Shri Arun Jaitley said.
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