: Centre to seek Parliament’s nod for additional Rs 37,000 cr infra push #FinanceIndia #StockMarketNEWS #Business New Delhi: Centre will seek the Parliament’s approval for additional spending of

@StockMarketNEWS Wed 28 Oct, 2020

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Centre to seek Parliament’s nod for additional Rs 37,000 cr infra push #FinanceIndia #StockMarketNEWS #Business
New Delhi: Centre will seek the Parliament’s approval for additional spending of Rs 37,000 crore on infrastructure development in the second batch of supplementary demands for grant.

Finance Minister Nirmala Sitharaman had earlier in the month announced that Centre’s capital expenditure budget for current fiscal has been increased by an additional Rs 25,000 crore from a level of Rs 4,13,000 crore provided for FY21.

Further, the Union government has also approved issuance of a special interest-free 50-year loan to states of Rs 12,000 crore for infrastructure development.

According to people in the know, the approval for these additional expenditure for infrastructure push will be sought from the Parliament through the second batch of supplementary demands for grants.

The second batch of supplementary demands for grants is generally presented during the winter session of Parliament.
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