Global Economy

India seeks parliament approval for additional spending of $39.87 bln in FY22


The Indian government sought parliamentary approval on Friday for net additional spending of 2.99 trillion rupees ($39.87 billion) in the current financial year ending in March 2022.

It is seeking approval for gross spending of 3.74 trillion rupees including a net cash outgo of 2.99 trillion with the balance arranged from savings, Pankaj Chaudhary, the junior finance minister, told the lower house in a statement.

The extra spending is in addition to the budgeted 34.83 trillion rupees ($464.43 billion) announced in February for the 2021/22 fiscal year, down from expenditure of 35.11 trillion in the previous fiscal year. ($1=74.9950 rupees)



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