The Lok Sabha has passed the Supplementary demands for Grants of Rs 25,707 crore and the relevant Appropriation bill by a voice vote. Replying to the discussion, Finance Minister Pranab Mukherjee said additional grants had been needed because of the increased expenditure on various counts including the MPLAD scheme, the hike in stipend for Anganwadi workers and compensation paid to the Bhopal Gas tragedy victims. He said the fiscal deficit this year was estimated to be 4.6 per cent of the GDP, and called for fiscal consolidation to maintain the momentum of growth, creation of jobs and to moderate inflation. Mukherjee said so far revenue growth had been satisfactory with direct taxes yielding 30 per cent of it and indirect taxes 26 per cent. He said the Government was trying to bring more people under the tax net.
News On AIR | August 6, 2011 12:46 PM
LS nod to Rs 25,707 crore supplementary grants