There are no victim or deceased names mentioned in the given text. : “Indian Government Seeks Parliament Approval for $15.48 Billion Additional Spending”

Death – Obituary – Accident and Crime News : Indian Government Seeks Parliament Approval for Additional Spending of $15.48 Billion

NEW DELHI, December 6 – The Indian government has requested parliament’s approval for additional spending of 1.29 trillion rupees ($15.48 billion) in the current fiscal year. The majority of this spending will go towards higher subsidies for farmers and a rural job employment program.

The government has stated that the net additional spending for the current fiscal year, which ends on March 31, will amount to 583.78 billion rupees. The remaining amount will be accommodated by reshuffling expenses.

Prime Minister Narendra Modi’s administration plans to allocate 133.51 billion rupees for fertiliser subsidies and an additional 145.24 billion rupees for a rural unemployment scheme.

This move comes as Modi, who is seeking a third consecutive term in the upcoming national elections, aims to bolster the rural economy, which has shown signs of weakness. He has been implementing various welfare measures such as food and fertiliser subsidies, cheaper cooking gas, and other initiatives to uplift the rural population.

With the additional fertiliser subsidies, the total subsidy for the current fiscal year will increase by nearly 8% to 1.88 trillion rupees. Furthermore, the minimum wage paying rural income scheme will be raised by almost 24% to 745.24 billion rupees.

The government has also requested an additional 55 billion rupees for food subsidies, in addition to the budgeted 1.97 trillion rupees for the year.

Despite the increased allocation for fertiliser subsidies this fiscal year, the amount spent will still be lower than the 2.51 trillion rupees spent in the previous fiscal year. Food and fertiliser subsidies comprise the majority of the government’s expenditure.

According to government officials, the additional spending will not lead to a widening of the budget deficit beyond the target of 5.9% of the gross domestic output. They anticipate that tax collections will be higher than expected.

The Indian government’s move to seek additional spending reflects its commitment to supporting farmers and the rural population. With the upcoming national elections, Modi’s administration aims to strengthen the economy and address the concerns of the rural sector.

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