Government Seeks Parliament Approval for Additional Spending
The government has requested Parliament's approval to spend an additional Rs 51,462.86 crore in the current fiscal year. A major portion of this expenditure is allocated towards pension and fertilizer subsidy. The total gross additional spending is over Rs 6.78 lakh crore, with most balanced by savings.
- Country:
- India
On Monday, the government requested Parliament to approve a net additional expenditure of Rs 51,462.86 crore for the ongoing financial year ending in March, with significant allocations for pensions and fertilizer subsidies.
The total gross expenditure sought amounts to over Rs 6.78 lakh crore. However, Rs 6.27 lakh crore of this sum will be compensated by savings and receipts, according to the Finance Minister Nirmala Sitharaman's presentation in the Lok Sabha.
Key components of this additional spending include Rs 12,000 crore for fertilizer subsidies and Rs 13,449 crore for government employee pensions, including the Unified Pension Scheme. Additional allocations comprise Rs 8,476 crore for defense pensions and Rs 5,322 crore for the Department of Telecommunications.
(With inputs from agencies.)
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