HindustanTimes Tue,25 Nov 2014

House to take up Rs. 49,716-cr spend

PTI  New Delhi, March 08, 2013
First Published: 21:58 IST(8/3/2013) | Last Updated: 00:14 IST(9/3/2013)

The government on Friday sought Parliament's approval to spend an additional Rs. 49,715.5 crore (around $9.1 billion), mainly to meet the outgo on fuel, fertiliser and food subsidies in the current financial year.


The net cash outgo will be only Rs. 40,967.3 crore, as per the Supplementary Demands for Grants tabled in the Lok Sabha by finance minister P Chidambaram.

The second and final batch of Supplementary Demands for Grants for 2012-13 includes 65 grants and one appropriation.

"Approval of Parliament is sought to authorise gross additional expenditure of Rs. 49,715.5 crore. Of this, the proposals involving net cash outgo aggregate to Rs. 40,967.3 crore and gross additional expenditure, matched by savings of the ministries/departments or by enhanced receipts/recoveries aggregate to Rs. 8,747.3 crore," the document stated.

Of the total amount, Rs. 9,914.1 crore and Rs. 4,753.99 crore have been sought for food and fertiliser subsidies respectively.

Parliament's nod was also sought for spending Rs. 24,773.8 crore for providing compensation towards estimated under recoveries to oil marketing companies on account of sale of petroleum products. Subsidy to them for supply of natural gas to north eastern region has also been sought.

Besides, a token provision of Rs. 98 lakh was sought - Rs. 1 lakh for each item of expenditure - for enabling re-appropriation of savings in cases involving new services or new instruments of service.

The Supplementary Demands for Grants for 2012-13 was also tabled in the Rajya Sabha.

more from Business

India can grow at 9%, become $10 tn economy: PwC

India has the potential to achieve 9% growth rate and become a $10 trillion economy by 2034 on the back of concerted efforts by the corporate sector and a constructive role played by the government, a PwC report said on Monday.

Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved