12 C
New Delhi
Wednesday 29 January 2020

Govt seeks Parliament nod to spend Rs 85,315 crore more this fiscal

A bulk of the net cash outgo would be spent to compensate states on account of revenue loss suffered due to implementation of GST as well as for phasing out of Central Sales Tax

New Delhi: The government today sought Parliament nod for additional cash spending of Rs 85,315.30 crore in the current fiscal, of which 70% is earmarked to compensate states for revenue loss on account of GST roll out.

Minister of State for Parliamentary Affairs Arjun Ram Meghwal moved the fourth batch of Supplementary Demands for Grants for 2017-18 in the Lok Sabha.

Approval of Parliament is sought to authorise the gross additional expenditure of over Rs 9.06 lakh crore, part of which would be matched by savings by various ministries, the document said.

“Of this, the proposals involving net cash outgo aggregating to Rs 85,315.30 crore and gross additional expenditure, matched by savings of the ministries/departments or by enhanced receipts or recoveries aggregates to over Rs 8.21 lakh crore,” it said.

A bulk of the net cash outgo would be spent to compensate states on account of revenue loss suffered due to the implementation of GST as well as for phasing out of Central Sales Tax (CST).

A total of Rs 61,215.58 crore, which is about 71% of Rs 85,315 crore, has been earmarked for the Department of Revenue. This includes Rs 58,999 crore to be paid for revenue loss to states and Rs 1,384 crore to be paid as CST compensation.

Another major spending head is Rs 15,065.65 crore towards grants in aid and creation of capital assets under various schemes.

As much as Rs 9,260 crore would be spent for paying defence pensions, and Rs 5,721.90 crore for meeting expenditure towards interest payment on market loans and treasury bills.

PTI

Stay on top - Get daily news in your email inbox

Sirf Views

Soros Loves To Play Messiah To The Miserable

The opportunity to throw breadcrumbs massages the ego of NGOs supremacists run; the megalomaniac Soros is a personification of that ego

Pandits: 30 Years Since Being Ripped Apart

Pandits say, and rightly so, that their return to Kashmir cannot be pushed without ensuring a homeland for the Islam-ravaged community for conservation of their culture

Fear-Mongering In The Times Of CAA

No one lived in this country with so much fear before,” asserted a friend while dealing with India's newly amended citizenship...

CAA: Never Let A Good Crisis Go To Waste

So said Winston Churchill, a lesson for sure for Prime Miniter Narendra Modi who will use the opposition's calumny over CAA to his advantage

Archbishop Of Bangalore Spreading Canards About CAA

The letter of Archbishop Peter Machado to Prime Minister Narendra Modi, published in The Indian Express, is ridden with factual inaccuracies

Related Stories

Leave a Reply

For fearless journalism

%d bloggers like this: