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Lok Sabha nod sought for Rs 58,378 crore extra expenditures
The Business Guardian
|December 07, 2023
In a bid to address additional financial requirements in the current fiscal year, the government has proposed a net additional spending of Rs 58,378 crore.
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Minister of State for Finance, Pankaj Chaudhary, introduced the first batch of supplementary demands for grants for the fiscal year 2023-24 in the Lok Sabha, detailing the proposed allocations and savings.
The supplementary demands encompass a gross additional spending exceeding Rs 1.29 lakh crore, balanced by anticipated savings of Rs 70,968 crore. This proposal aims to address crucial expenditure needs while ensuring a strategic utilization of available funds.
According to the document presented in the Lok Sabha, the net cash outflow resulting from these supplementary demands for grants is pegged at Rs 58,378.21 crore. One significant allocation within this additional spending is earmarked for a substantial fertilizer subsidy amounting to Rs 13,351 crore.
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