LS adopts Supplementary Budget for 2013-14

The House gave ts approval to the government for Rs 18,594.27 crore additional spending in the current financial year

Lok Sabha today gave its approval to the government for Rs 18,594.27 crore additional spending in the current financial year to meet expenditure, mainly towards petroleum and fertiliser subsidies.

The House gave its nod to the second batch of Supplementary Demands for Grants 2013-14, piloted by Finance Minister P Chidambaram, amid pandemonium and without any discussion.

The proposals involve a net cash outgo of Rs 13,126.93 crore and gross additional expenditure, matched by savings of the Ministries and Departments or by enhanced receipts and recoveries, of Rs 5,466.25 crore.

Of the total demand of Rs 18,594.27 crore, the Ministry of Petroleum and Natural Gas will get Rs 10,336 crore for releasing payments to oil marketing companies (OMCs) and meeting establishment related expenditure of the Petroleum Regulatory Board.

OMCs will get Rs 9,000 crore for sale of petroleum products and Rs 1,336 crore for direct transfer of cash subsidy of LPG consumer schemes.

As much as Rs 2,000 crore will be provided towards fertiliser subsidy as an additional amount, while Rs 500 crore has been sought for Development Bank of India to set up a credit guarantee fund in consonance with the Factoring Act, 2011.