GBS hike by 21 pc to Rs 1,75,000 cr

NEW DELHI: The Finance Ministry is understood to have agreed on a gross budgetary support of Rs 1,75,000 crore for the financial year 2005-06, an increase of about 21 pc.

The approved figure is, however, much lower than the Rs 1,96,000 crore proposed by the Planning Commission keeping in mind implementation of the programmes promised in the National Common Minimum Programme (NCMP) and infrstructure development necessary for achieveing eight per cent growth.

Official sources said the final figure will be known only when the Finance Minister, P Chidambaram, presents his budget next February.