FINANCIAL NEWS
Govt seeks Parliament nod for Rs 1.87 lakh crore supplementary demands for this fiscal
The single largest demand came from the finance ministry for Rs 1.59 lakh crore as transfer to states in the form of back-to-back loans as goods and services tax (GST) compensation shortfall.
Finance minister Nirmala Sitharaman laid a statement of the demands in the lower House, which amounted to a net additional cash outgo of Rs 23,675 crore.
The government sought approval for additional expenditure of Rs 1.87 lakh crore from Lok Sabha, as part of the first batch of supplementary demand for grants for FY22.
Finance minister Nirmala Sitharaman laid a statement of the demands in the lower House, which amounted to a net additional cash outgo of Rs 23,675 crore, on Tuesday.
The remaining Rs 1.63 lakh crore came from savings of the various ministries and departments and through enhanced receipts and recoveries, the statement said.
The single largest demand came from the finance ministry for Rs 1.59 lakh crore as transfer to states in the form of back-to-back loans as goods and services tax (GST) compensation shortfall.