Chidambaram proposes 29.4 percent increase in plan expenditure

Finance Minister P. Chidambaram Thursday proposed a 29.4 percent hike in the plan expenditure for the union budget 2013-14.

The plan expenditure for the next fiscal will be about Rs.5.53 lakh crore, said the finance minister, presenting the annual budget to the lower house of parliament.

"The budget expenditure is Rs.16,65,297 crore and the plan expenditure is Rs.5,55,322 crore," Chidambaram said, adding that the plan expenditure in 12th Five-Year Plan was revised to Rs.14,30,825 crore or 96 percent of budgeted expenditure.

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