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Govt. looks to spend Rs. 2.35 lakh cr. more
Why is it in news?
- Union Government has sought Parliament approval for a gross additional expenditure of Rs. 2.35 lakh crore, including Rs. 20,000 crore for recapitalisation of public sector banks, for 2020-21.
Details:
- Finance Minister tabled the first batch of Supplementary Demands for Grants for this financial year in the Lok Sabha.
- Out of the Rs. 2.35 lakh crore gross additional expenditure, the proposals involving net cash outgo add up to almost Rs. 1.67 lakh crore.
- The rest of the money will come either through savings or reallocation of funds allocated to other ministries.
- The supplementary demand for grants is needed for government expenditure over and above the amount for which Parliamentary approval was already obtained.