Govt seeks Par approval for Rs 85,315 cr additional expenditure till March 31

Govt seeks Par approval for Rs 85,315 cr additional expenditure till March 31

The government on Thursday sought Parliament's approval for additional spending of Rs 85,315.30 crore in the current fiscal ending March 31.

A major chunk of about 70% would go towards compensating states for revenue losses on account of GST implementation.

The funds were sought through the fourth batch of Supplementary Demands for Grants for 2017-18 in the Lok Sabha.

Of the total demands, Rs 58,999 crore would be paid for revenue loss to states and Rs 1,384 crore would go as CST compensation.

Over Rs 15,000 crore would go towards grants in aid and creation of capital assets under various schemes, the demands for grant explanation said.

The fourth batch of demands for grants included 72 grants and 2 appropriations. The approval of Parliament was also sought to authorise a gross additional expenditure of of Rs 9.06 lakh crore, part of which would be matched by savings by various ministries.

"Of this, the proposals involving net cash outgo aggregating to Rs 85,315.30 crore and gross additional expenditure, matched by savings of the ministries/departments or by enhanced receipts or recoveries aggregates to over Rs 8.21 lakh crore," the explanatory document said.

The government also sought Rs 9,260 crore towards meeting additional expenditure for defence pension. Also, Rs 5,721.90 crore was sought for meeting expenditure towards interest payment on market loans and treasury bills. Swachch Bharat Mission also demanded Rs 3,000 crore in the remaining period of the current fiscal.

Earlier on January 4, the government had sought parliament's approval for an additional Rs 80,000 crore for the recapitalisation of public sector banks.

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