Image credit: Ministry of Parliamentary Affairs
Parliament Approves ₹51,463 Crore Additional Spending for FY25
In a recent parliamentary session, the Indian government secured approval for an additional expenditure of ₹51,463 crore for the fiscal year 2024-25 (FY25). This supplementary budget aims to address various financial requirements, including increased funding for subsidies and other essential allocations.
Breakdown of Additional Expenditure
The supplementary budget outlines the allocation of the additional ₹51,463 crore as follows:
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Subsidies: A significant portion of the additional funds is designated for subsidies, ensuring continued support for essential sectors and commodities.
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Defense Pensions: An allocation is made to cover increased expenditures related to defense pensions, reflecting the government’s commitment to supporting retired military personnel.
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Capital Expenditure: A portion of the funds is earmarked for capital expenditure, focusing on infrastructure development and other long-term investments to stimulate economic growth.
Parliamentary Approval Process
The proposal for additional spending was presented as the second batch of supplementary demands for grants for FY25. Following discussions, the Lok Sabha (House of the People) approved the additional expenditure, and subsequently, the Rajya Sabha (Council of States) returned the Appropriation Bill, granting legislative authorization for the government to withdraw the funds from the Consolidated Fund of India.
Manipur’s Budget for FY26
In the same session, Parliament also approved the budget for the state of Manipur for the fiscal year 2025-26 (FY26). This approval ensures the allocation of necessary funds for the state’s administrative and developmental activities in the upcoming fiscal year.
Implications for Fiscal Policy
The approval of additional spending reflects the government’s responsive fiscal policy, aiming to address emerging financial needs without compromising fiscal discipline. By allocating funds to critical areas such as subsidies and defense pensions, the government seeks to maintain economic stability and support vulnerable sectors.
In summary, the parliamentary approval of ₹51,463 crore in additional expenditure for FY25, along with the passage of Manipur’s budget for FY26, underscores the government’s commitment to addressing immediate financial requirements while planning for future state-level fiscal needs.
