Finance Minister Arun Jaitley Friday sought Parliament nod to spend a net extra Rs 14,787 crore in the fiscal ending March 31, mainly on payment of pension arrears to defence personnel, providing more money to a price stabilisation fund and repaying debt.
In the third and final batch of Supplementary Demands for Grants for 2016-17, he sought approval of Parliament for gross additional expenditure of Rs 11.35 lakh crore. Of this, the net cash outgo aggregates to Rs 14,786.85 crore and the remainder is matched by “savings of the ministries/departments or by enhanced receipts/recoveries,” the document tabled in Parliament said.
Of the Rs 11.35 lakh crore, Rs 10.84 lakh crore is for repayment of debt which include buyback and switching of treasury bonds. One of the biggest spend is of Rs 3,500 crore on providing additional money to the Price Stabilisation Fund, which was set up to market interventions for managing prices of perishable agri-horticultural commodities by procuring directly from farmers and later supplying at reasonable rates to consumers.
Another Rs 3,292.94 crore is for payment of arrears of pension on implementation of the recommendations of the 7th Central Pay Commission, impact of Dearness Relief and arrears arising out of implementation of ‘One Rank One Pension’. Also, Rs 1,504.32 crore will go as contribution under Credit Support Programme for augmentation of funds to the corpus for Credit Guarantee Trust Fund for Micro and Small Enterprises.
The Demands for Grants also include an additional outlay of Rs 3,843 crore towards fertiliser subsidies and another Rs 3,000 crore for assisting states affected by natural calamities. Moreover, the government has sought Parliament nod for transferring of Rs 5,203 crore from Krishi Kalyan cess to Krishi Kalyan Kosh and also for the transfer of Rs 5,889 crore of unclaimed money to Senior Citizen Welfare Fund.
As much as Rs 782 crore of additional fund will be provided for funding the Pradhan Mantri Gramin Awas Yojana.