The additional spending also includes servicing loans taken from the National Small Savings Funds (NSSF) for Pradhan Mantri Awas Yojana, among other heads.
Revenue expenditure, or expenses in the current period, had been falling as a percentage of GDP till FY19, but changed direction after that to touch 15.2% in FY21.
The veteran of the investment industry argues that this decade will witness an export-led growth. And while IT and pharma would rule the economy, other smaller industries, too, will jostle to rise up.
