Centre Seeks Lok Sabha Nod for Additional ₹58,378 Crore Spending in FY24

New Delhi: The government on Wednesday sought approval from the Lok Sabha for an extra expenditure of ₹58,378 crore in the ongoing fiscal year. Minister of State for Finance, Pankaj Chaudhary, presented the initial set of supplementary demands for grants for the 2023-24 fiscal in the lower house of Parliament.

The total proposed additional expenditure exceeds ₹1.29 lakh crore, which will be partially offset by savings of ₹70,968 crore. This results in a projected net cash outflow of ₹58,378.21 crore, as detailed in the document submitted to the Lok Sabha.

Among the key allocations within this additional spending is a significant ₹13,351 crore earmarked for the fertilizer subsidy, highlighting the government’s continued focus on supporting the agricultural sector.