Finance Minister Arun Jaitley made a case for blending subsidy with investment to augment farm sector growth and make it sustainable and self-sufficient.
He also said formalisation of the economy has started showing visible result in terms of higher resource mobilisation, leaving more in the hands of the Government for the capital formation in various sector. “There is lot of formalisation of economy taking place in several other sectors… We can see visible results, and it is leading to additional resources in the hands of the Government. I don’t think this process will now be reversed,” he said.
As India moves into the situation where Governments have more resources, the ability to spend on sectors, which needs maximum support, will obviously rise, he said after releasing a book.