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Home » IANS » Centre seeks Parliament’s nod for Rs 2.35 lakh-cr more expenditure

Centre seeks Parliament’s nod for Rs 2.35 lakh-cr more expenditure

By IANS
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New Delhi, Sep 14 (IANS) The Union government on Monday sought Parliament’s approval for spending an additional Rs 2.35 lakh crore to meet its commitment towards Atmanirbhar Bharat package and Pradhan Mantri Garib Kalyan Yojana, as well as additional allocation towards post-devolution revenue deficit grants to states and other Covid-19 relief measures.

Finance Minister Nirmala Sitharaman tabled the first batch of Supplementary Demands for Grants for the financial year 2020-21 in the Lok Sabha which, among other things, included a sum of Rs 46,602.43 crore required for providing additional allocations under the Post-Devolution Revenue Deficit Grant (Rs 44,340 crore) and Grants-in-Aid General for States Disaster Response Fund (Rs 2,262.43 crore) as per the accepted recommendations for the 15th Finance Commission.

The supplementary demand for grant is an additional grant sought to meet the required government expenditure over and above the amount for which parliamentary nod has already been obtained.

“The first batch of Supplementary Demands for Grants for 2020-21 includes 54 Grants and 1 Appropriation. The approval of Parliament is sought to authorise gross additional expenditure of Rs 2,35,852.87 crore,” read the first Supplementary Demands for Grants.

Apart from devolution to states, a big chunk of additional expenditure is coming for the MNREGS. The Centre has sought Rs 40,000 crore for providing grants for the creation of capital assets under the Mahatma Gandhi National Rural Employment Guarantee Scheme and for the transfer of funds to National Employment Guarantee Fund.

For providing Grants-in-Aid General for Direct Benefit Transfer to Pradhan Mantri Jan Dhan Yojana’s women bank account holders, the government has sought approval for an additional expenditure of Rs 30,956.98 crore.

Further, to meet the expenditure towards recapitalisation of Public Sector Banks through the issue of government securities, it has sought an approval for the expenditure of Rs 20,000 crore.

For meeting an additional expenditure towards Grants-in-Aid General to National Credit Guarantee Trustee Company Limited (NCGTC) for the Guarantee Emergency Credit Line (GECL) facility to eligible MSME borrowers, the Centre has sought approval of Rs 4,000 crore in expenditure.

The government expenses have increased of late and are likely to increase further due to the coronavirus pandemic and the eventual economic slowdown.

The government has sought gross additional expenditure of Rs 2,35,852.87 crore but net cash outgo is expected only to the tune of Rs 1,66,983.91 crore. The gross additional expenditure, matched by savings of the Ministries/Departments or by enhanced receipts/recoveries, aggregates to Rs 68,868.33 crore.

Besides, a token provision of Rs 63 lakh has been sought, Rs one lakh for each item of expenditure, for enabling re-appropriation of savings in cases involving New Service or New Instrument of Service.

–IANS

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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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