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Rediff News  All News  » Business » Parliament nod sought for additional spending of Rs 49,715 cr

Parliament nod sought for additional spending of Rs 49,715 cr

March 08, 2013 14:26 IST

The government on Friday sought Parliament's approval to spend an additional Rs 49,715.54 crore (Rs 497.15 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 40,967.27 crore (Rs 409.67 billion)), as per the Supplementary Demands for Grants tabled in 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 the Parliament is sought to authorise gross additional expenditure of Rs 49,715.54 crore. Of this, the proposals involving net cash outgo aggregate to Rs 40,967.27 crore and gross additional expenditure, matched by savings of the Ministries/Departments or by enhanced receipts/recoveries aggregate to Rs 8,747.29

crore," the document said.

Of the total amount, Rs 9,914.06 crore (Rs 99.14 billion) and Rs 4,753.99 crore (Rs 47.53 billion) have been sought for food and fertiliser subsidies respectively.

Parliament's nod was also sought for spending Rs 24,773.75 crore (Rs 247.73 billion) for providing compensation towards estimated under recoveries to oil marketing companies on account of sale of petroleum products and subsidy to them for supply of natural gas to north eastern region has also been sought.

Besides, a token provision of Rs 98 lakh (Rs 9.8 million) was sought - Rs 100,000 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 Rajya Sabha.

Complete coverage: Union Budget 2013-14

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