In a sign of fiscal prudence ahead of the 2024 general elections, the Union finance ministry on Wednesday sought Parliament's approval for additional gross spending of ₹1.29 trillion, involving net cash outgo of ₹58,378 crore in FY24 through the first tranche of Supplementary Demands for Grants. In comparison, in the first Supplementary Demands for Grants in FY23, the government had sought approval for gross additional expenditure of nearly 4.36 trillion, with a net cash outgo of ₹3.25 trillion.
But the government will present a second tranche of Supplementary Demands for Grants during the Budget session of Parliament in February, when it can seek additional spending.
Expenditure exceeding the net cash outflow, worth ₹70,968 crore, including ₹14,524 crore for the Mahatma Gandhi National Rural Employment Guarantee Scheme, will be offset by savings or increased receipts.
The government had previously taken an advance of ₹10,000 crore for the rural job guarantee scheme from the Contingency Fund of India.
This story is from the December 07, 2023 edition of Business Standard.
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This story is from the December 07, 2023 edition of Business Standard.
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