Govt seeks Parliament's approval for additional spending of Rs 1.29 trillion in FY24
New Delhi: The government on Wednesday sought Parliament's approval for an additional spending of Rs 1.29 trillion in the fiscal year 2024.
The initial supplementary demand for grants seeks approval for a net expenditure of Rs 583.78 billion in the current fiscal, involving a cash outflow.
The gross spending entails reallocating expenses among different central ministries and departments.
Minister of State for Finance, Pankaj Chaudhary, presented the demand for grants in the Lok Sabha.
Additionally, the government is seeking authorisation to spend Rs 709.68 billion, which can be covered through increased receipts and savings in various categories.
The Narendra Modi government specifically plans to allocate an extra Rs 133.51 billion for fertilizer subsidies and Rs 145.24 billion for the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGA).
It is worth noting that the government had initially earmarked Rs 1.75 trillion for fertilizer subsidies in the FY2024 budget after the previous fiscal year's expenditure on this front reached a record high of Rs 2.55 lakh crore.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Pakistan: Blast close to Quetta’s FC headquarters leaves 10 dead
Baloch American Congress asks Trump to support fight for Balochistan's cause
Yash Raj Films launches YRF Script Cell seeking new writers for Hindi cinema and creative collaboration
Pakistan 'successfully' conducts Fatah-4 missile test amid heightened tensions with India
