Govt seeks Parliament nod for additional spending of Rs11.35 trillion
Govt has sought Parliament nod for third batch of Supplementary Demands and Grants for the current fiscal entailing additional expenditure of Rs11.35 trillion
Latest News »
- DGH opens up entire unexplored area for hydrocarbon firms to search for fossil fuels
- Corporation Bank to raise up to Rs3,500 crore from share sale
- North Korea threatens to kill South Korea’s ex-president Park Geun-Hye: report
- Narendra Modi on two-day visit to Gujarat from tomorrow
- Ashok Leyland to expand commercial vehicles business with new products
New Delhi: The government on Friday sought Parliament’s approval for the third and final batch of Supplementary Demands for Grants for the current fiscal entailing an additional expenditure of Rs11.35 trillion.
The net cash outgo, however, will be only Rs14,786 crore. The rest will be matched by savings of the ministries/departments or by enhanced receipts/recoveries aggregates.
The current financial year ends on 31 March.
Of the Rs11.35 trillion, Rs10.84 trillion is for repayment of debt which include buyback and switching of treasury bonds.
As per the Demands for Grants document, an additional Rs3,293 crore has been sought for payment of arrears towards Seventh Pay Commission award and One Rank One Pension (Orop).
The Demands for Grants also include an additional outlay of Rs3,843 crore towards fertilizer subsidies. Further, Rs1,504 has been sought for promoting SME sector and another Rs3,000 crore for assisting states affected by natural calamities.
Meanwhile, the government has also sought Parliament nod for transferring of Rs5,203 crore from Krishi Kalyan cess to Krishi Kalyan Kosh and also for the transfer of Rs5,889 crore of unclaimed money to Senior Citizen Welfare Fund. As much as Rs782 crore of additional fund will be provided for funding the Pradhan Mantri Gramin Awas Yojana.