India News | LS Nod for Rs 51,463 Cr Extra Spending This Fiscal, Manipur Budget

New Delhi, Mar 11 (PTI) The Lok Sabha on Tuesday passed supplementary demands for grants, which entails Rs 51,463 crore additional spending in the current fiscal and the Manipur Budget for the 2025-26 fiscal.

The lower house also passed, by voice vote, the Rs 1,291 crore demands for excess grants for 2021-22 fiscal and the Rs 1,861 crore supplementary demands for grants for Manipur in 2024-25.

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The second batch of Supplementary demands for grants entails a gross additional spending sought by the government is over Rs 6.78 lakh crore, of which Rs 6.27 lakh crore would be matched by savings and receipts.

The net additional spending by the government would be Rs 51,462.86 crore in the current fiscal, as per the second batch of Supplementary Demands for Grants tabled by Finance Minister Nirmala Sitharaman in the Lok Sabha.

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The demands for grants include a technical supplementary of Rs 5.54 lakh crore, which goes towards repayment of debt. "Essentially, we are removing the high-cost debt from our shoulders by advance redemptions in those debts," Sitharaman said while replying to a debate on the supplementary demands for grants.

Because we have done this redemption, the borrowing rates of the government have come down, the minister added.

With regard to the Manipur Budget, Sitharaman said the total receipts are Rs 35,368 crore, while total expenditure is estimated at Rs 35,104 crore.

The state's own tax is about Rs 2,634 crore and non-tax is about Rs 400 crore.

It is a Vote on Account asking for 6 months and at this stage for an amount of Rs 17,947 crore.

"Similar to the way in which we have helped J&K, we are providing all the financial assistance to support faster recovery of the economy of Manipur," Sitharaman said.

The Vote on Account provides for a Rs 500 crore corpus for the creation of a contingency fund for Manipur, which is currently under the President's Rule.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)