July 31, 2015 8:57 PM

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Government seeks Parliament nod for additional Rs 41,000-crore spending

Government today sought Parliament's approval for an additional amount of about Rs 41,000 crore as the first batch of supplementary demands for grants for 2015-16. Tabling it in Parliament, Finance Minister Arun Jaitley said that the Government has proposed allocation of Rs 70,000 crore in four years for bank capitilisation. Mr Jaitley said, Rs 12000 crore have been allocated for bank capitalization this year. <br/><br/>The Minister said, it is a long overdue step and the government is now implementing it. He said, the step will give a boost for investment and growth in the country. With the infusion of the amount provision for bank capitalization will reach a total of Rs 20,000 crore. Mr Jaitley said, the government is committed to support bank capitalisation in future too. <br/>The government has also sought a token Rs 100 crore for establishment of MUDRA Bank and Rs 800 crore for injecting as equity infusion in state-carrier Air India. An additional 2,685 crore rupees has been sought for Swachh Bharat Mission and other schemes of Ministry of Drinking Water and Sanitation.

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