The government today asked for Rs 1949.11 crore from Parliament for meeting redemption pressures on UTI for US-64 and assured returns schemes as part of its second batch of supplementary demand for grants of Rs 9,045.05 crore.
The supplementary demands moved by Finance Minister Jaswant Singh, involves an additional cash outgo of Rs 5,032.11 crore, which includes a whopping Rs 3,806 crore for drought relief under Sampoorna Gramin Rojgar Yojana and Food for Work programmes.
The demands also include Rs 500 crore towards meeting the ways and means advance needs of state governments.
More From This Section
This will be in addition to the Rs 2,000 crore which the finance ministry has already budgeted for in the beginning of this fiscal.
The support for UTI includes Rs 438 crore for meeting the shortfall between the assured re-purcahse price and NAV of the US-64 scheme.
This would entail a cash outgto for the Centre. However, the Centre will not need to make any addtional cash defrayment for meeting the rest of Rs 1,511 crore for meeting the estimated liability on account of shortfall in assured return schemes of UTI.
Instead the expenditure will be matched by receipts of an equivalent amount.
In the first supplementary demand for grants in the monsoon session of Parliament, in this fiscal the government had asked for Rs 8,007.16 crore involving a cash outgo of Rs 3,913.36 crore.
The demand for grants also includes loans and grants for several PSUs as a run up to their disinvestment.
This includes Rs 150 crore for meeting VRS demand of IDPL, Rs 30 crore as equity support to Hindustan Copper, and Rs 56 crore for Jessop as grant as a fall out of the disinvestment package for the company which is to be taken over by Ruia Cotex.
Another Rs 31 crore would cover the post disinvestment adjustments for the ITDC hotels all of which would necessitate a cash outgo.
The Centre has also written of Rs 836.36 crore for the fertiliser industry, including 442.36 crore worth of loans for several fertiliser companies including Madras Fertilisers Ltd, FACT, Hindustan Fertiliser Corporation.
Another Rs 394 crore has been sanctioned for HFC, FCI, PPCL and Brahmaputra Valley Fertilisers Corporation for financing their voluntary separation scheme for their staff.
However, because of matching savings there would be no additional cash outgo.
The Centre has made a provision of Rs 429.17 crore for issue of government of India compensation bonds 2008, against receivables from Iraq.
The demand includes Rs 70 crore for beefing up security in Parliament complex in the wake of terrorist attack on December 13, 2001.