FM Sitharaman presents first batch of supplementary calls for; seeks extra Rs 2.35 lakh cr


New Delhi, September 14

Finance Minister Nirmala Sitharaman on Monday sought the Parliament nod for added spending of Rs 2.35 lakh crore, which embrace money outgo of Rs 1.66 lakh crore, primarily to satisfy bills for combating the COVID-19 pandemic.

Of the overall money outgo, Rs 40,000 crore is in the direction of enhanced expenditure underneath Mahatma Gandhi National Rural Employment Guarantee Program and Rs 33,771.48 crore has been looked for direct profit switch underneath Pradhan Mantri Jan Dhan Yojana and National Social Assistance Programme.

As a part of Pradhan Mantri Garib Kalyan Yojana, Rs 33,771.48 crore has been transferred to beneficiaries of each ladies Jan Dhan Account holders and Old Age Pension holders.

“For providing Grants-in-aid General for Direct Benefit Transfer to Pradhan Mantri Jan Dhan Yojna Women Accounts Holders (Rs 30,956.98 crore) and Indira Gandhi National Old Age Pension (Rs 2,814.50 crore) under the scheme National Social Assistance Programme,” the primary batch of Supplementary Demands for Grants for 2020-21 tabled within the Lok Sabha stated.

The authorities has additionally sought Rs 46,602.43 crore in the direction of offering extra allocation underneath Post Devolution Revenue Deficit Grant to the states as per suggestions of the Fifteenth Finance Commission.

The first batch of Supplementary Demands for Grants for 2020-21 contains 54 Grants and one Appropriations.

“Approval of the Parliament is sought to authorise the gross additional expenditure of Rs 2,35,852.87 crore. Of this, the proposals involving net cash outgo aggregate to Rs 1,66,983.91 crore and gross additional expenditure, matched by savings of the Ministries/Departments or by enhanced receipts/recoveries aggregates to Rs 68,868.33 crore,” it stated.

To increase the well being infrastructure to fight COVID-19 pandemic within the nation, the federal government has sought Rs 14,231.96 crore together with Rs 5,915.49 crore for assembly extra expenditure in the direction of Grants-in-aid General for containment of pandemic and Rs 2,475 crore to Indian Council of Medical Research (ICMR).

For assembly expenditure in the direction of Grants-in-aid General underneath the scheme Pradhan Mantri Garib Kalyan Yojana (PMGKY) associated to the Labour Ministry, the federal government has sought Rs 4,860 crore.

With regard to assembly expenditure in the direction of meals subsidy to decentralized procurement scheme states underneath the National Food Security Act, Rs 10,000 crore has been sought from the Parliament.

For assembly extra expenditure in the direction of Grants-in-aid General to National Credit Guarantee Trustee Company Limited (NCGTC) for the Guarantee Emergency Credit Line (GECL) facility to eligible MSME debtors, Rs 4,000 crore has been sought.

On May 20, the Cabinet authorized extra funding of as much as Rs three lakh crore at a concessional fee of 9.25 per cent via Emergency Credit Line Guarantee Scheme (ECLGS) for MSME sector.

Under the scheme, 100 per cent assure protection might be supplied by the National Credit Guarantee Trustee Company (NCGTC) for added funding of as much as Rs three trillion to eligible MSMEs and Micro Units Development and Refinance Agency (MUDRA) debtors within the type of a assured emergency credit score line (GECL) facility.

For this objective, a corpus of Rs 41,600 crore was arrange by the federal government, unfold over the present and subsequent three monetary years.

The scheme might be relevant to all loans sanctioned underneath GECL facility throughout the interval from the date of announcement of the scheme to October 31, or until the quantity of Rs three lakh crore is sanctioned underneath the GECL, whichever is earlier. PTI



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