Finance Minister presents 1st supplementary demand of grants

Finance Minister Nirmala Sitharaman sought Parliament nod for additional spending of Rs 21,246.16 crore, including over Rs 8,820 crore for the newly formed union territories of Jammu and Kashmir and Ladakh, in the first batch of supplementary demands.

Of this, the net cash outgo will be Rs 18,995.51 crore, she said in the statement tabled in the Lok Sabha.

She provided Rs 8,820.62 crore as grant to Union Territories of Jammu and Kashmir and Ladakh in lieu of J&K State share of 14th Finance Commission Award.

As much as Rs 2,500 crore was provided for capital infusion in IDBI Bank Ltd through issuance of recapitalisation bonds.

Another Rs 666 crore was provided for meeting expenditure of Department of Space and Rs 3,387.46 crore for meeting expenditure towards salaries and cost of ration of police.