Lok Sabha gives assent to additional net spending of Rs 2.99 trn
Union Finance Minister Nirmala Sitharaman on Monday said the additional expenditure consent sought by the Centre from Parliament through Supplementary Demand for Grants this year was around 9.6 per cent of the Budget 2021-22 size of Rs 34.8 trillion. This compares to 8.6 per cent during the time of the Manmohan Singh government in 2011-12, she said, adding that the Centre did not under-provision in the Budget.
Replying to the debate on the second Supplementary Demand for Grants and the Appropriation Bill in the Lok Sabha, Sitharaman said the Centre was seeking legislative nod to spend Rs 2.99 trillion extra because of issues such as the Air India sale and the rise in global fertiliser prices, which led to a sharp increase in fertiliser subsidy burden this year.
“Many members have asked if the demand this time is so high because we underestimated in Budget 2022 Estimates (BE)? The big-ticket expenditure items include Air India. Also, at a time when we are very sensitive to farmers and their concerns, we have to ensure that they don’t suffer because of the rise in global commodity prices. And therefore, an increase in the subsidy for fertiliser has been provided, which itself is accounting for Rs 58,430 crore,” Sitharaman said…
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