Govt seeks Parliament nod for net additional spending of Rs 78,673 crore this fiscal

Govt seeks Parliament nod for net additional spending of Rs 78,673 crore this fiscal

The government on Monday sought Parliament's nod for a net additional spending of Rs 78,673 crore in the current financial year, including Rs 10,798 crore expenditure towards MGNREGA. The second batch of supplementary demands for grants for 2023-24 was tabled in Parliament by Finance Minister Nirmala Sitharaman also provides for additional spending of Rs 9,231 crore and Rs 3,000 crore towards food and fertiliser subsidy, respectively.

The supplementary demands for grants include a gross additional spending of over Rs 2 lakh crore, which would be matched by savings of over Rs 1.21 lakh crore. The proposal involves net cash outgo aggregating to Rs 78,672.92 crore, said the document tabled in Parliament.

The Interim Budget for 2024-25 has pegged the government's total expenditure in the current financial year at Rs 44.90 lakh crore, up 7.1 per cent from 2022-23. Other major spending heads include Rs 9,162 crore for payments to defence services and Rs 3,890 crore towards defence pension.

Besides, Rs 5,000 crore has been earmarked for the Department of Economic Affairs for transfer to the Senior Citizen Welfare Fund and Rs 84.12 crore towards establishment-related expenditure of the Enforcement Directorate on account of increased operational activity and establishment of new offices.