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The Indian government has sought Parliament's approval for an additional cash outlay of ₹44,143 crore, including supplementary allocations for key welfare schemes such as PM KISAN and fertilizer subsidies.
In a proposal submitted to Parliament, the government requested approval for a gross extra expenditure of ₹87,763 crore. However, the net cash outgo, after accounting for savings and adjustments, amounts to ₹44,143 crore, according to sources. This move aims to ensure the smooth continuation of various welfare programs while addressing urgent fiscal needs.
The additional funds will be primarily directed towards expanding financial support for the Pradhan Mantri Kisan Samman Nidhi (PM KISAN) scheme, which provides direct cash transfers to farmers, and increasing allocations for fertilizer subsidies, amid rising agricultural input costs.
Despite the increase in spending, the government has assured that the revised expenditure will remain within its overall budgetary targets for the fiscal year, without breaching the deficit limits.
The request is expected to be discussed and debated in the upcoming sessions of Parliament as part of the supplementary demand for grants.
Also Read: DPIIT Secretary: Industry's call for tariff hikes during FTA negotiations must be questioned
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In a proposal submitted to Parliament, the government requested approval for a gross extra expenditure of ₹87,763 crore. However, the net cash outgo, after accounting for savings and adjustments, amounts to ₹44,143 crore, according to sources. This move aims to ensure the smooth continuation of various welfare programs while addressing urgent fiscal needs.
The additional funds will be primarily directed towards expanding financial support for the Pradhan Mantri Kisan Samman Nidhi (PM KISAN) scheme, which provides direct cash transfers to farmers, and increasing allocations for fertilizer subsidies, amid rising agricultural input costs.
Despite the increase in spending, the government has assured that the revised expenditure will remain within its overall budgetary targets for the fiscal year, without breaching the deficit limits.
The request is expected to be discussed and debated in the upcoming sessions of Parliament as part of the supplementary demand for grants.
Also Read: DPIIT Secretary: Industry's call for tariff hikes during FTA negotiations must be questioned
First Published: Dec 12, 2024 1:48 PM IST
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