Parliament proceedings | Govt seeks Parliament nod for ₹23,675 crore extra spending
The Hindu
“As the back-to-back loan are to be met from equivalent capital receipts, the ... expenditure will not entail any additional cash outgo,” the supplementary demands for grants said
Finance Minister Nirmala Sitharaman on July 20 sought Parliament nod to spend a net additional ₹23,675 crore, including ₹17,000 crore for the Health Ministry, in the current financial year. As per the first batch of supplementary demands for grants tabled in the Lok Sabha by Ms. Sitharaman, although the gross additional expenditure is over ₹1.87 lakh crore in 2021-22, the actual cash outgo will only be ₹23,674.81 crore as the remaining spending will be met through savings and higher receipts and recoveries. A substantial chunk of the total gross spending is towards transfer to states for shortfall in goods and services tax compensation cess. ₹1.59 lakh crore would be transferred to states as back-to-back loan in lieu of the GST compensation shortfall. However, this will not entail any cash outgo.More Related News