House to take up Rs 49,716-cr spend
The government today sought Parliament's approval to spend an additional R49,715.5 crore (around $9.1 billion), mainly to meet the outgo on fuel, fertiliser and food subsidies in the current financial year.business Updated: Mar 09, 2013 00:14 IST
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.