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The government has sought Parliament approval for additional spend of ₹1.03 lakh crore including cash spend of ₹20,948 crore.
The main cash spend related to transfer of ₹5,000 crore to National Employment Guarantee Fund; transfer of ₹7,000 crore to States including additional assistance of ₹2,000 crore for States affected by natural calamities such as hailstorm and unseasonal rain; providing ₹1,000 crore to Indian Strategic Petroleum Reserves Ltd for Sovereign Strategic Crude Oil Reserve at Vizag, Mangaluru and Pudur and ₹1,000 crore to Universal Service Obligation Fund (USOF).
These cash spends formed part of the first batch of supplementary demand for grants for 2016-17 tabled in Lok Sabha by Finance Minister Arun Jaitley on Monday. The Centre has also allocated ₹500 crore for meeting additional requirement for aid to Mauritius for a special economic zone package, viability gap funding for MRPL-STC contract and to Seychelles for development of island infrastructure and other projects.
As much as ₹80 crore would be spent on arrear payment of subsidy on import of pulses and ₹500 crore for meeting additional requirement towards price stabilisation fund for procurement of enhanced quantity of pulses and other commodities like onion.
Of the gross additional spend of ₹1.03 lakh crore, as much as ₹82,065 crore would be met by savings of the ministries and departments.
The main expenditure on the technical side include ₹40,000 crore to Food Corporation of India to meet the working capital requirements towards procurement of foodgrains for targeted public distribution system; providing additional funds of ₹4,168 crore to Ministry of Road Transport and Highways. The Centre has also sought Parliament nod for reclassification of inter account transfer from revenue section to capital section (central road fund – ₹20,984 crore and permanent bridge fees fund – ₹7,500 crore).
Also on the technical side, ₹5,000 crore has been allocated to the Rural Development Ministry for providing funds under MGNREGA.
Srivats.kr@thehindu.co.in
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