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Government to spend Rs 1.48 lakh crore extra in FY23

The government on Monday sought approval from parliament to authorise the gross additional expenditure of Rs 2.70 lakh crore.

Published: 14th March 2023 09:24 AM  |   Last Updated: 14th March 2023 06:56 PM   |  A+A A-

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Image used for illustrative purposes only. (Express Illustrations)

By Express News Service

NEW DELHI: The government has sought parliament’s permission to spend an additional Rs 1.48 lakh crore in the current financial year. 

The government on Monday sought approval from parliament to authorise the gross additional expenditure of Rs 2.70 lakh crore. Of this, Rs 1.22 lakh crore would be spent through savings by different departments and ministries, resulting in net Additional spending of Rs 1.48 lakh crore.

Of the total additional spending, Rs 36,325 crore would go towards fertilizer subsidy, Rs 25,000 crore will be transferred to the Universal Service Obligation Fund (USOF) maintained by the Department of Telecom, and another Rs 28,000 crore will go for defence pension under One Rank One Pension policy. An additional sum of Rs 33,700 crore has been demanded GST compensation to states.

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