The finance ministry has sought expenditure proposals for the second and final batch of Supplementary Demands for Grants from various ministries and departments ahead of the Budget session likely to commence in the last week of January.
This would be the last session of the 17th Lok Sabha before the general elections and the government would seek expenditure approvals of Parliament for four months till July 2024 through a vote on account.
Click here to follow our WhatsApp channel
The second batch of Supplementary Demands for Grants for 2023-24 is proposed to be placed before Parliament in the ensuing Budget session, the finance ministry said in an office memorandum.
The cases that would be eligible to be incorporated under such demands include those where advances from the Contingency Fund have been granted.
Besides, payments against court decree would be included as well as cases where the finance ministry has specifically advised moving the supplementary demand in the winter session, it said.
"While processing proposals for supplementary grants, the grant controlling authority must invariably identify savings within the grant so that the infructuous or inflated supplementary demands are weeded out and the eventuality of surrender after obtaining the supplementary grant is avoided," it said.
According to the memorandum dated December 29, the ministries are required to submit their supplementary proposals by January 8.
The interim Budget 2024-25 is likely to be presented on February 1. The Budget approval process has been streamlined by the Government led by Prime Minister Narendra Modi for better utilisation of funds.
Previously, when the Budget was presented at the end of February, a three-stage Parliament approval process used to be completed sometime in mid-May, weeks ahead of the onset of monsoon rains.
This meant government departments would start spending on projects only from August-end or September after the monsoon season ended.
Also Read
Budget 2024: Here are 5 lesser-known facts about the Union Budget of India
Interim Budget: All you need to know about the budgets during election year
Budget 2024: How India's Railway Budget has changed over the years
Budget 2024: Budget preparation, its purpose, halwa ceremony, presentation
Budget Speech: All you need to know about the FM's address to Parliament
Import more crude grades to cut basket price: Parliamentary panel
US jobs numbers to show payrolls increase by 170k, eases pay growth
India to be fastest-growing economy in 2024 after withstanding headwinds
Demand uptick, easing inflation to provide advantage to exports in 2024
Focus on workforce boost in health sector considering global demand: Govt
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)