|
|
|
Govt seeks Parliament nod for additional spending of Rs 1.87 lakh cr
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 20 Jul, 2021
The Centre on Tuesday sought the Parliament's approval for an additional
spending of Rs 1.87 lakh crore to meet its expenditure commitments made
under various Covid relief measures and to provide higher allocation
for the health sector.
Finance Minister Nirmala Sitharaman
presented the first batch of supplementary demands for grants in the Lok
Sabha that, among other things, also includes a sum of Rs 1,58,999.99
crore required for providing loans to state governments, through issue
of debt under a special window under back-to-back loans to states in
lieu of GST compensation shortfall.
The supplementary demand for
grants is an additional grant required to meet the required expenditure
of the government over and above the amount for which Parliamentary nod
was taken earlier.
The need for additional expenditure has arisen
in wake of the government extending the term of a few Covid relief
measures as the country was hit by a second wave of the pandemic post
announcement of Budget 2021-22.
The government has sought gross
additional expenditure of Rs 1,87,202.41 crore, but net cash outgo is
expected to the tune of only Rs 23,674.81 crore as additional
expenditure is matched by savings of the Ministries/Departments or by
enhanced receipts/recoveries aggregating to Rs 1,63,526.88 crore.
Besides,
token provision of Rs 72 lakh has been sought, Rs 1 lakh for each item
of expenditure, for enabling re-appropriation of savings in cases
involving New Service or New Instrument of Service.
Apart from
higher expenditure needed towards supporting the healthcare system
during the Covid times, a major portion of additional cash spending,
about Rs 1,750 crore will go towards compounded interest support to
lending institutions in respect of borrowers under compounded interest
support scheme for loan moratorium.
Parliamentary approval has
also been sought for additional spending of Rs 10,727.50 crore for
meeting expenditure towards Grants-in-aid General under National Rural
Health Mission-India Covid-19 Emergency Response and Health System
Preparedness Package Phase-II.
Also, additional sum of Rs
2,641.67 crore is required for meeting expenditure towards Maintenance
of Value (MoV) - an IMF Obligation -- through issue of securities.
The
government has stepped up expenditure in wake of the pandemic that
almost brought down the economy to a grinding halt during the time of
lockdown during March-May period last year. Though the impact of second
wave has been limited, but already, some early signs pf stress seems to
appearing. The government last month has already announced a Rs 6.28
lakh crore stimulus package.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|