New Delhi: The government on Friday sought
Parliament`s approval for raising public expenditure that will
result in a net cash outgo of Rs 31,780 crore during 2009-10
over the expenses envisaged earlier.
Of the total cash outgo, bulk of the funds totalling
around Rs 12,000 crore will be provided to the petroleum
ministry to compensate oil companies for selling kerosene and
LPG below the market price, said the second batch of
supplementary demands for grants for 2009-10 that was tabled
in Lok Sabha by Finance Minister Pranab Mukherjee.
In addition, Rs 4,500 crore would be provided as subsidy
on imported decontrolled fertilisers and Rs 3,500 crore as
subsidy on indigenous urea.
Among food subsidy, state-run Food Corporation of India
will get Rs 1,207 crore for additional allocation of rice and
wheat, while Rs 1,252 crore would be given to state
governments for procurement of foodgrain.
The government will also incur an additional expenditure
of Rs 1,038 crore for equity investment in Central bank Of
India, UCO Bank and United Bank of India, and to meet the
capital requirement of PSU banks through World Bank loan.
"The proposals involving net cash outgo of Rs 31,780
crore will not result in any significant variation in total
estimated expenditure in the revised estimates for 2009-10,"
the supplementary demand for grants said.
The gross expenditure, however, would be about Rs 14.43
lakh crore, of which Rs 14.11 lakh crore would be matched by
savings and enhanced recoveries.
PTI
