Parliament approves grants allowing govt to spend additional Rs 3.25 lakh cr

The Finance Minister said that there is no objection to freebies as long as one cab put it in the budget and generate revenues for it.

FPJ Web DeskUpdated: Wednesday, December 21, 2022, 10:08 PM IST
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The first batch of grants for the government to spend an additional Rs 3.25 lakh crore FY23 has received the parliament's nod. During the discussion, Finance Minister Nirmala Sitharam mentioned the government's steps to boost the economy and added that WPI inflation has come down to a 21-month low of 5.85 per cent in November.

She added that, further demands for grants have been made to ensure food security and to tackle challenges in the energy, food, and fertiliser supply chain, caused by the Ukraine-Russia war.

She went on to point out that NPAs of banks fell to a six-year low of 5.9 per cent and that MSMEs got support to stay out of the a crisis. She added that the Government is monitoring borrowings and liabilities, and said that there is no objection to freebies as long as one cab put it in the budget and generate revenues for it. She added that subsidies given to the education and health sector as well as farmers are fully justified.

The Minister dismissed all allegations about the Government favouring corporates.

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