Lok Sabha approves Supplementary Budget for 2013-14

The Lok Sabha on Thursday approved the Rs.18,594.3-crore additional spending in 2013-14 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.13,126.9 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.18,594.3 crore, the Ministry of Petroleum and Natural Gas will get Rs.10,336 crore for releasing payments to oil marketing companies and meeting establishment related expenditure of the petroleum regulatory board.

The oil firms would 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.

About Rs.2,000 crore would 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.

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