Govt seeks Par nod for Rs 34,724 crore extra spend in FY'12

New Delhi, Aug 2 (PTI) Indian Government on Tuesday
sought Parliamentary approval for additional gross expenditure
of Rs 34,724 crore for 2011-12 with an assurance that the net
cash outgo of Rs 9,016 crore will not push fiscal deficit
beyond projections in the Budget.
This is the first batch of supplementary demand for
grants in the current year.
The Supplementary Demands were presented in the Lok
Sabha by Finance Minister Pranab Mukherjee with the promise
that while extra expenditure of over Rs 34,724.5 crore was
being earmarked, "there would be overall savings in other
grants."
As the government aims to stick to the fiscal defict
target of 4.6 per cent of GDP in 2011-12, it is seeking
additional resources in a conservative way.
The additional demands for grants include a provision
of Rs 2,300 crore for Rural Development Ministry for meeting
expenditure for conducting surveys on BPL, a crucial
requirement for implementing the proposed National Food
Security Act.
The additional provision of about Rs 10,612 crore is
being sought for providing loans to International Monetary
Fund.
Government is also seeking Parliamentary nod for Rs
1,585.7 crore for additional equity investment in the bonus
shares issued by ONGC.
Rs 410.73 crore have been asked for providing payment
of ex-gratia to victims of Bhopal gas tragedy.
As much as Rs 434.6 crore are being provided in the
supplementary demands to Air India towards payment of
maintenance of aircraft used for VVIP travel.
Besides, the government plans to provide Rs 1,000
crore more on the national clean energy fund. PTI SSR
MNS