Govt seeks approval for extra expenditure of Rs 78,673 crore for current fiscal

by Psu Connect
Date: 06-02-24

The interim Budget for FY25 has fixed the government’s total expenditure in the current financial year at Rs 44.9 trillion which is slightly lower than Rs 45 trillion in FY24.

Govt seeks approval for extra expenditure of Rs 78,673 crore for current fiscal

New Delhi: The central government has asserted to seek Parliament approval for a net extra expenditure of Rs 78,673 crore for the current fiscal year in addition to the spending of Rs 2 trillion in the recent announcements.

The new extra capital amount includes Rs 10,798 crore for MGNREGS [Mahatma Gandhi National Rural Employment Guarantee Scheme]. In the budget presentation for FY25, the government has enhanced the monetary outlay on the job guarantee program to Rs 86,000 crore from Rs 60,000 crore made in the previous budget for FY24. Meanwhile, gross additional expenditure will be fulfilled by the savings revenue of Ministries and departments, or by enhanced receipts, recoveries consolidated to Rs 1,21,625 crore.

The second batch of supplementary demands for grants for FY24 was illustrated by the Finance Minister to provide extra funding of Rs 9,231 crore and Rs 3,000 crore towards food and fertilizer subsidies, respectively. The interim Budget for FY25 has fixed the government’s total expenditure in the current financial year at Rs 44.9 trillion which is slightly lower than Rs 45 trillion in FY24.

The Revised Estimate of the total receipts other than borrowings is Rs 27.56 lakh crore of which tax receipts are Rs 23.24 lakh crore. The total expenditure for the revised estimate is Rs 44.90 lakh crore. The revenue receipts at Rs 30.03 lakh crore are expected to be higher than the Budget Estimate which on the other hand signifies strong and stable growth.