Finance Minister presents First Supplementary Demand of Grants

The Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman on Thursday, 28 November 2019 sought Parliament’s approval for capital infusion as a part of the first supplementary demand of grants for Rs 21,246.16 crore which will include:

1)About Rs, 8,820 crores will be spent for the newly-formed Union Territories of Ladakh and Jammu and Kashmir.

2)Rs 4,557 crore will go into the recapitalization of IDBI Bank Limited.

3)For meeting expenditure of Department of Space Rs 666 crore will be sanctioned.

4)Rs 2,500 crore will be infused in state-owned Insurance companies through recapitalization bonds.

5)Rs 1,500 crore additional expenditure towards payment of allowance and salaries of the armed forces.

6)Rs 1,000 crore under scheme for free LPG for poor households as additional funds.

7)RS 3,387.46 crore for expenditure towards the cost of ration and salaries of police.

Taking the total spending, cash outgo to approx RS 19000 crore.