Have buffer for external shock, 8th pay panel needs: Manoj Govil, Expenditure Secretary

Expenditure Secretary Manoj Govil explains the rationale behind muted expenditure growth in the budget, emphasizing fiscal prudence to reduce the fiscal deficit and debt-to-GDP ratio. He highlights the preparedness for future economic shocks, the push for state-level reforms, and the importance of assessing and rationalizing centrally sponsored schemes for better quality of expenditure.