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Government Seeks Parliament’s Approval For Additional Spending Of Around Rs 54,000 Crore
Union Finance Minister, Nirmala Sitharaman (Pic Via Facebook)
The government on Friday (6 March) sought Parliament's approval for additional spending of around Rs 54,000 crore to meet its commitments towards GST compensation to states and cover for enhanced dearness relief and pension needs of its employees.
Finance Minister Nirmala Sitharaman presented the second batch of supplementary demands for grants in the Lok Sabha that among things include a sum of Rs 20,000 crore required for releasing GST compensation for states and union territories.
The supplementary demand for grant is an additional grant required to meet the required expenditure of the government over and above the amount for which parliamentary nod was taken earlier.
The government sought authorisation for gross additional expenditure of Rs 4.8 lakh crore.
"Of this, the proposals involving net cash outgo aggregate to Rs 53,963.58 crore and gross additional expenditure, matched by saving of the ministries/departments or by enhanced receipts/recoveries aggregates to Rs 4.26 lakh crore," the supplementary demands for grants document said, reports Money Control.
In November, Sitharaman had taken Parliament's approval for additional spending of Rs 21,246 crore as part of the first supplementary demand for the grant.
(With inputs from IANS)
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