Finance Minister Nirmala Sitharaman Presents First Supplementary Demand Of Grants

Economy

Finance Minister Nirmala Sitharaman on Thursday sought Parliament nod for additional spending of Rs 21,246.16 crore for the new UTs of J&K and Ladakh.

Written By Press Trust Of India | Mumbai | Updated On:
Finance Minister

Finance Minister Nirmala Sitharaman on Thursday sought Parliament nod for additional spending of Rs 21,246.16 crore, including over Rs 8,820 crore for the newly formed union territories of Jammu and Kashmir and Ladakh, in the first batch of supplementary demands.

Of this, the net cash outgo will be Rs 18,995.51 crore, she said in the statement tabled in the Lok Sabha here. She provided Rs 8,820.62 crore as grant to Union Territories of Jammu and Kashmir and Ladakh in lieu of J&K State share of 14th Finance Commission Award.

Read: Will Corruption Crackdown Boost The Economy? Finance Minister Sitharaman Answers

As much as Rs 2,500 crore was provided for capital infusion in IDBI Bank Ltd through the issuance of recapitalisation bonds. Another Rs 666 crore was provided for meeting expenditure of Department of Space and Rs 3,387.46 crore for meeting expenditure towards salaries and cost of the ration of police. 

Read: No recession in Indian economy: Finance Minister Nirmala Sitharaman

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