Government to overshoot expenditure estimate

February 16th, 2009 - 5:20 pm ICT by IANS  

New Delhi, Feb 16 (IANS) The government Monday revised the total expenditure estimate in the current fiscal to a little over Rs.9 trillion (Rs.900,953 crore), an increase of Rs.1.5 trillion (Rs.150,069 crore) on account of increased assistance to states, greater sectoral investments and a higher subsidy burden.

In the interim budget that he presented in the Lok Sabha, External Affairs Minister Pranab Mukherjee hiked the plan expenditure by Rs.395.71 billion (Rs.39,571 crore) to Rs.2.82 trillion (Rs.282,957 crore), against the budgeted estimate of Rs.2.43 trillion (Rs.243,386 crore).

This was on account of increase in assistance to states and more expenditure towards sectors such as rural development, atomic energy and telecommunications.

On the non-plan side, spending estimates were revised to Rs.1.1 trillion (Rs.110,498 crore) because of a subsidy burden.

According to revised estimates, the government has increased subsidy on fertilisers by Rs.448.63 billion (Rs.44,863 crore), Rs.109.6 billion (Rs.10,960 crore) on food and Rs.150 billion (Rs.15,000 crore) on Agricultural Debt Waiver and Debt Relief Scheme.

Additional spending of Rs.76.05 billion (Rs.7,605 crore) on pensions, Rs.51.49 billion (Rs.5,149 crore) on police and Rs.90 billion (Rs.9,000 crore) on defence led to overshooting of earlier spending estimates.

The budget for 2009-10 will have total expenditure of Rs.9.53 trillion (Rs.953,231 crore), comprising Rs.2.85 trillion (Rs.285,149 crore) under plan and Rs.6.68 trillion (Rs. 668,082 crore) under non-plan.

The gross budgetary support for the plan is 17.16 percent higher than that in 2008-09.

Related Stories

    Posted in Uncategorized |

    Subscribe