Government Limits Additional Spending

Student Portal (2024)	Student Portal (2023 & Earlier)	Student Portal (Test Series)	Student Portal (SNTCSSC)	Register Now
PT Diagnostic Tests	PT Marathon	Current Affairs Yearly Compilation	KSG 10000 Practice Booklet	KOL Registrations

07 Dec,2023

News Excerpt:

Union finance ministry seeks Parliament approval for controlled additional spending.

More details on news

Government limits additional spending to Rs 58,378 crore for fiscal prudence before 2024 elections. Fiscal deficit target set at 5.9% of GDP for FY24.
First tranche of Supplementary Demands for Grants seeks approval for Rs 1.29 trillion spending. It is a sign of fiscal prudence ahead of the 2024 general elections.
In FY23, the government sought approval for much higher additional expenditure of nearly Rs 4.36 trillion.
Second tranche of Supplementary Demands for Grants expected in February during the Budget session. The money will go to fertilizers, food subsidies, and defense.
The government remains confident in meeting the fiscal deficit target due to robust tax collections.