The last few years have seen a surge in Government expenditure, or at least promises of such expenditure; denominated in dollars, the National Infrastructure Pipeline promised expenditure of US$ 2408.29 billion (Rs.205 lakh crore) between 2019 and 2025, but nothing has been heard about it for quite some time; even the Pipeline’s website has not been updated since 2022.

Then an ambitious National Monetisation Pipeline, envisaging asset monetisation of Central ministries and public sector entities, totalling to Rs.6 lakh crore between 2021 and 2025 was announced in Union Budget 2021 but the achievement is rather sketchy. Also, PM Gati Shakti, or National Master Plan for Multimodal Connectivity was launched on 15 August 2021, with a projected outlay of US$ 1.2 trillion i.e., Rs.102 lakh crore, which is under execution. Pending a detailed audit, it would, perhaps, be appropriate to ponder whether the public has benefited in proportion to the expenditure incurred on these initiatives? According to a statement in Rajya Sabha by Union Minister of Road Transport and Highways Nitin Gadkari, “From amongst 952 projects, including National Highways (NHs) projects, costing more than Rs.150 crore which were under construction in March 2024, 419 projects spilled beyond their original completion schedule, missing one or the other of the various stages of project completion up to March 2024.”

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The cost overrun for these projects has been estimated at Rs.5.71 lakh crore, which speaks volumes about the Government’s thrift and punctuality. Budgeted expenditure also reflects this profligacy; expenditure in Union Budget 2000-01 totalled Rs.3.38 lakh crore, which went up to Rs.50.65 lakh crores in 2025-26 i.e., almost doubling every six years. Inflation definitely took a toll, a rupee’s worth in the year 2000 is only 20 paise in 2025. However, allowing for inflation, the Government is spending more than three times on our welfare, so the question arises whether we are three times better off than before, or alternatively, where does this money go? Every budget, since Independence ~ though worded differently ~ had the same objectives; create employment, remove poverty, help........

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