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Business News › News › Economy › Finance › Supplementary demand for grants unlikely in the upcoming monsoon session

Supplementary demand for grants unlikely in the

upcoming monsoon session
By Deepshikha Sikarwar, ET Bureau Last Updated: Jul 11, 2022, 12:52 AM IST
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Synopsis
In 2021-22, the government had presented a ₹1.87 lakh crore first supplementary
demand for grants on July 20, proposing a net cash outlay of ₹23,675 crore. In the fiscal,
the government exceeded the budgeted fiscal deficit target by about ₹80,000 crore. It
had raised the target to 6.9% of GDP from 6.8% pegged in the budget, but actual came
in at 6.7% of GDP on back of improved revenues.

Agencies
The government may not present a
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In the current year, the Centre is facing fiscal
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to douse inflation.
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"The objective is to get departments to exercise utmost prudence in spending
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7/13/22, 1:45 PM Parliament Monsoon Session: Supplementary demand for grants unlikely in the upcoming monsoon session - The Economic …

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In 2021-22, the government had presented a ₹1.87 lakh crore first
supplementary demand for grants on July 20, proposing a net cash outlay of 4. India’s 1st elevated urban
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₹23,675 crore. In the fiscal, the government exceeded the budgeted fiscal
by 2023, says Nitin Gadkari;
deficit target by about ₹80,000 crore. It had raised the target to 6.9% of GDP here are 10 points

from 6.8% pegged in the budget, but actual came in at 6.7% of GDP on back of
improved revenues. 5. Rupee settlement may bring
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The fiscal deficit target for 2022-23 is pegged at 6.4% of the GDP.

In its monthly economic report for May, the finance ministry warned that an Most Popular Opinion
increase in fiscal deficit may cause the current account deficit to widen.

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7/13/22, 1:45 PM Parliament Monsoon Session: Supplementary demand for grants unlikely in the upcoming monsoon session - The Economic …

spending as any fiscal slippage will give wind to the worrying current account
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Additionally, with the RBI tightening monetary policy to check inflation, the
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