Budget 2013: I can't help rationalising expenditure: FM

Finance Minister P Chidambaram presented the Union Budget in the Parliament on Thursday.

Faced with huge fiscal deficit, I have no choice but to rationalise expenditure, he said.

Plan expenditure in 12th Five Year Plan was revised to Rs 14,30,825 crore (Rs 14,308.25 billion) or 96 per cent of budgeted expenditure.

Budget expenditure for this fiscal is Rs 16,65,297 crore (Rs 16,652.97 billion) and Plan expenditure is Rs 5,55,322 crore, said the finance minister.

The revised expenditure target is Rs 14,30,825 crore (Rs 14308.25 billion) or 96 per cent of Budget estimate for this fiscal.

In 2013-14, the Budget estimate is Rs 16,65,297 crore (Rs 16,652.97 billion).

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