House nod sought for Rs 3.74 lakh crore extra spend

Finance minister Nirmala Sitharaman on Friday sought Parliamentary clearance for an additional spending of Rs 3,73,761 crore, placing the second batch of supplementary demands for grants for the current fiscal. This involves a higher-than-expected net cash outgo of Rs 2,99,243 crore; the rest would be met through savings or enhanced receipts of various ministries and departments.

More than 80 per cent of the extra net cash outgo under the second batch of supplementary demands pertains to five items- equity infusion into Air India Assets Holding Ltd (Rs 62,057 crore), additional subsidy for fertiliser (Rs 58,430 crore) and food (Rs 49,805 crore), clearance of past dues owed to exporters (Rs 53,123 crore) and greater allocation for the national rural job scheme (Rs 22,039 crore).

The demands include a total of 69 grants and two appropriations.

In July, too, Sitharaman had sought House nod for additional expenditure of Rs 1.87 lakh crore, as part of the first batch of supplementary demands for grants for FY22. It involved a net extra cash outgo of Rs 23,675 crore. FE