Exclusive: The Most Important Ingredient In Budget, According To Nirmala Sitharaman

The Union Budget should be a simple document that everyone can understand, Union Finance Minister Nirmala Sitharaman told NDTV in an exclusive interview by Editor-in-Chief Sanjay Pugalia today.

Gone are the days when the Union Budget document would be voluminous with information so complex that only a few people would understand, she said.

"The Budget should say everything it has to say. You can't say something and hide something," Ms Sitharaman told NDTV.

To a question about how people back in the days used to wait for the "fine print" to come after the Budget speech, Ms Sitharaman said her idea of the Union Budget has no hidden surprises.

"Don't push anything under the carpet. That's the message we are giving. It (Budget) should be a simple document. When I was young, I remember the Budget document was thick and complex to understand," she said.

"Everything you want to say, say it upfront. There is no fine print. Amendments can happen after feedback... I consult everyone, from chartered accountants to businesspeople to common people. I go everywhere, hearing everyone's opinion, and then come back to make the Budget," the Finance Minister said.

The government will spend Rs 2.66 lakh crore on rural development, Ms Sitharaman had said while unveiling new programmes in the annual Budget for states led by two key allies - Bihar's ruling Janata Dal (United), and Andhra Pradesh's Telugu Desam Party (TDP).

The Budget spending estimate of Rs 48.21 lakh crore is 1.2 per cent higher than the Rs 47.66 lakh crore estimate in the interim Budget presented in February, helped by a bumper transfer of dividends from the Reserve Bank of India (RBI), while the fiscal deficit target was reduced to 4.9 per cent of the Gross Domestic Product (GDP).