FM seeks Parliament nod for additional spending of Rs2.35 lakh cr

FM seeks Parliament nod for additional spending of Rs2.35 lakh cr

Nirmala Sitharaman, Finance Minister. file photo

Tribune News Service
New Delhi, September 14

Finance Minister Nirmala Sitharaman on Monday sought Parliamentary approval for additional spending of Rs 2.35 lakh crore due to the impact of the Covid pandemic leading to massive outgoes to shore up the health infrastructure, meet payments arising from the PM’s Rs 20 lakh-crore package and account for the extra expenditure on social security payments.

Of this, proposals involving net cash outgo aggregate to Rs 1.67 lakh crore and gross additional expenditure, matched by savings or by higher recoveries is Rs 68,868.33 crore.

Major non-Covid expenses include Rs 6,000 crore for the Price Stabilisation Fund, Rs 44,340 crore for post-devolution grant to states, about Rs 1,000 crore for border roads and Rs 20,000 crore for the recapitalisation of public sector banks through issue of Government Securities. In the social sector, the pandemic necessitated Rs 40,000 crore more for MGNREGP and Rs 33,771.48 crore as benefit transfer under PM Jan Dhan Yojana and National Social Assistance Programme. Total additional expenditure on health infrastructure required an additional Rs 14,231.96 crore.

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