Key Points
The Lok Sabha on Tuesday approved the central governments second and final batch of supplementary demands for grants for the current fiscal year, which entails a net cash outgo of Rs 1.48 lakh crore..
While the additional gross spending for FY23 is estimated at over Rs 2.70 lakh crore, as much as Rs 1.22 lakh crore of this will be met through savings or enhanced receipts of ministries and departments, according to the supplementary demands...
The latest expenditure plans came on top of first batch of supplementary demands for grants for FY23, which was presented in December and entailed a net cash outgo of Rs 3.26 lakh crore...
The bulk of the additional spending is driven by four headsfertiliser subsidy (Rs 36,325 crore); defence pensions (Rs 33,718 crore); extra transfer to the GST compensation fund and additional release of such compensation to states and Union Territories (Rs 33,506 crore); and greater transfer to the Universal Service Obligation Fund under the department of telecommunications (Rs 25,000 crore)...
