Sunday, March 26, 2023

Government proposes additional net spending of 1.48 trillion rupees for 2022/23 – Usky News

New Delhi: The government has proposed an additional net Expense 1.48 trillion rupees ($18.06 billion) for the fiscal year ending this month, it said in a statement on Monday.
The additional gross expenditure for the same period would be Rs 2.71 lakh crore ($33.06 billion), the statement said.
An additional amount of Rs 363.25 billion has been sought for fertilizer subsidy and Rs 337.18 billion has been earmarked to meet pension liabilities of the defense forces.
The government has also sought an additional expenditure of 250 billion rupees to provide telecom services in rural and remote areas.
According to the Union Budget presented on 1 February, the government will spend 41.87 trillion won in 2022/23.
A government official, on condition of anonymity, said the government would stick to the spending target specified in the budget and any unused funds would be reallocated.
The government’s fiscal deficit target will be met through savings, additional taxes and other receipts, the official said.
The government’s fiscal deficit target for the current financial year, which ends on March 31, has been set at 6.4% of the gross domestic product (GDP).


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