Govt seeks nod for Rs 46,227 cr additional spending
PTI February 17, 2014
The government has sought Parliament's nod for supplementary spending of Rs 46,227.57 crore in the current fiscal that includes net cash outgo of Rs 25,567.97 crore, largely on account expenditure on petroleum subsidy, army and food.
Finance Minister P Chidambaram on Monday tabled supplementary demands for grants in Parliament. The demands are spread over a large number of categories.
Cash outgo apart, over Rs 20,658 crore is accounted for under the Technical Supplementary head.
Of the net cash outgo, as much as Rs 10,041.72 crore will be towards petroleum subsidies to oil marketing companies for under-recoveries on account of selling petroleum products below cost, and project management expenditure.
It has also sought Rs 4,821 crore for Defence Services (Army) for meeting additional expenditure arising out of courts orders and other items.
Food and public distribution department has been given additional subsidy of 1,877.52 crore.
The government has also sought nod for Rs 1,766 crore for providing Superannuation pension, family pension and defined contribution pension scheme-NPS.
The government has sought Parliament nod for Rs 1,130 crore for meeting expenditure under New and Renewable Energy Fund and enhancing Capital outlay of Solar Energy Corporation of India among others.
Chidambaram had vowed to bring down fiscal deficit at 4.8 per cent of the GDP in the current financial year, down from 4.9 per cent in 2012-13.
The government on Monday said the fiscal deficit for the current financial year will be contained at 4.6 per cent of GDP.