Sunday, January 23, 2022
News

Centre seeks Parliament's nod for addl Rs 3.73 lakh cr funds in FY22 (Lead)

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Saturday, 2021 3:45:08 AM IST
The Centre on Friday tabled its second batch of supplementary demands for grants in the Parliament, seeking additional Rs 3.73 lakh crore funds for FY22.

The second batch of FY22 'Supplementary Demands for Grants' includes 69 grants and two appropriations.

"Approval of the Parliament is sought to authorise gross additional expenditure of Rs 3,73,761 crore," the 'Supplementary Demands for Grants' document tabled in the Parliament read.

"Of this, the proposals involving net cash outgo aggregate to Rs 2,99,243.04 crore and gross additional expenditure, matched by savings of the ministries or departments or by enhanced receipts or recoveries aggregates to Rs 74,517.01 crore," it said.

A majority of the enhanced net cash outgo in the second supplementary demand for grants has been led by four big ticket items such as fertiliser subsidies, pending export promotion incentives, expenditure towards food storage and warehousing, and equity infusion into Air India Assets Holding Ltd (AIAHL).

As per the official document, the Ministry of Chemicals and Fertilisers would be given Rs 58,530 crore, Rs 62,057 crore would be given to the Ministry of Civil Aviation for equity infusion in Air India Assets Holding Ltd for repayment of past dues and liabilities.

In addition, Rs 49,805 crore would be provided to the Ministry of Consumer Affairs, Food and Public Distribution for meeting the expenditure towards various schemes of food storage and warehousing.

The Centre has earmarked Rs 5,000 crore and Rs 5,538,300 crore for the Ministry of Defence and the Ministry of Home Affairs, respectively.

ICRA Chief Economist Aditi Nayar said: "At end-October 2021, 52 per cent of the full year expenditure target had been completed, and a portion of the higher than expected net cash outgo of Rs 3 trillion in the second supplementary demand for grants will need to be absorbed through savings in other demands, to curtail the impact on the fiscal deficit.

"Nonetheless, there is near certainty that the fiscal deficit will exceed the budgeted Rs 15.1 trillion, despite our assessment that net tax revenues and RBI surplus transfer will together surpass the BE (Budget Estimates) by Rs 1.7 trillion."

--IANS rv/vd

( 368 Words)

2021-12-03-21:54:46 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Yes Bank's Q3 net profit up over 76% YoY...
Eye on Budget: Relief to individuals exp...
South Central Railway cancels 55 trains ...
Celebrating victory of a trending social...
Registrations for SIOM Nashik closing so...
Tanla announces third quarter 21-22 resu...
More...
 
INDIA WORLD ASIA
Telangana forms panel to improve air qua...
AAP's Mann challenges Channi to contest ...
16 marching contingents, 17 military ban...
Jaishankar calls Qatari counterpart; dis...
Rationale of extinguishing Amar Jawan Jy...
Odisha CM condoles death of six people i...
More...    
 
 Top Stories
National Car Racing: Double delight... 
From West Asia, Afghanistan to Indo... 
Women's Asian Cup: Iran underdogs t... 
Thousands take to streets in Sweden... 
Tiger Census begins in Bandipur Nat... 
Scotland, Sri Lanka register impres... 
Maldives President tests Covid posi... 
EC allows militants under ceasefire...