FM Sitharaman seeks Parliament nod for Rs 6.3-trillion extra spending

Union Finance Minister Nirmala Sitharaman on Thursday sought Parliament’s approval for an additional Rs 4.12 trillion, one of the highest, in the second supplementary demand for grants of the current fiscal year.It is part of gross additional spending, estimated at Rs 6.28 trillion, after accounting for Rs 2.15 trillion of savings or reallocation from ministries with under-utilised funds.
However, the provision for this gross additional spending was made in the revised estimates of the Union Budget of the cash outgo, Rs 64,598 crore is for enhanced expenditure on fertiliser subsidy under Atmanirbhar Bharat Abhiyan 3.0 and Rs 20,466 crore for the capital outlay in defence services.Sources say the reason for high grants is mainly stimulus packages. There were only two demands for grants in this fiscal year instead of three, due the winter session of Parliament not taking place.