Government seeks Parliament approval for additional Rs. 85,948 Crore gross spending

NEW DELHI: The government is seeking Parliament’s approval for Rs. 85,948 crore in additional spending, which includes a capital infusion of Rs. 41,000 crore in ailing state banks.

Finance Minister Arun Jaitley in a statement tabled in Lok Sabha stated that the actual outgo will only be Rs. 15,070 crore, as the remainder would be funded from savings.

Compared to Rs. 21.43 lakh crore of expenditure in the previous fiscal year, the extra spending is on top of the budgeted Rs. 24.42 lakh crore spending announced for the 2018-19 fiscal year in February.