October 7, 2014 2:47:48 am
To keep its spending under check, the government is expected to seek a minimal amount in its first supplementary demand for grants that will be tabled in the Winter Session of Parliament, expected to begin next month.
The government is likely to limit its requirements at about Rs 8,000 crore in the demand for grants although the finance ministry has just asked government departments and ministries to submit their estimates for additional funds.
“The calculations are just being started but it is expected to be about Rs 8,000 crore or so as major spending requirements will be taken up in the March session. Most fund requirements will be met with internal savings as of now,” said a senior government official.
Among the major items that may need cash as of now is the CST compensation to states governments for which the Centre is planning to release the first installment later this year. States have said that Rs 13,000 crore is due in arrears and the Centre is keen to start payments in order to move ahead with the roll out of the goods and services tax.
The official said that big spending items like fuel subsidy is expected also to be taken up towards the end of the fiscal.
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