Government Seeks Parliament Nod For Additional Rs 85,948 Crore Gross Spending
The government on Thursday sought Parliament approval for Rs 85,948 crore ($12.24 billion) in additional spending, which includes capital infusion of Rs 41,000 crore in ailing state banks, in the current fiscal year. In a statement tabled in Lok Sabha, Finance Minister Arun Jaitley said the actual outgo will only be Rs 15,070 crore, as the remainder would be funded from savings.
The extra spending is on top of the budgeted Rs 24.42 lakh crore ($347.20 billion) spending announced for the 2018-19 fiscal year in February, compared with Rs 21.43 lakh crore of expenditure in the previous fiscal year.
($1 = Rs 70.3350)
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