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Supplementary demands for Rs 3,709 cr introduced

Our Bureau

NEW DELHI, Aug. 16

BARELY into the second quarter of the current fiscal after the presentation of the budget, the Government on Thursday introduced the first batch of supplementary demands for grants in the Lok Sabha aggregating gross additional expenditure of Rs 3,709.37 crore.

The Union Finance Minister, Mr Yashwant Sinha, introduced the first batch of supplementary demands for grants for the current fiscal. Of this, the proposals entailing net cash outgo aggregate to Rs 1,413.71 crore and gross additional expenditure matched by savings of the departments concerned or by enhanced receipts or recoveries amount to Rs 2,295.45 crore.

The main items of additional expenditure involving net cash outgo of Rs 1,413.71 crore include Rs 100 crore for price support/market intervention operations by NAFED, Rs 100 crore for prevention of pollution in national rivers under Yamuna Action Plan an d Rs 271.50 crore for construction of three lakh houses under Indira Awas Yojana for the families living below the poverty line in the earthquake-hit rural areas of Gujarat and cyclone-affected areas of Orissa and Rs 74.25 crore for the Department of Cul ture, besides Rs 782.35 crore for loans to Delhi Metro Rail Corporation Ltd.

Besides, token provision of Rs 21 lakh is being sought, one lakh for each item of expenditure, enabling reappropriation of savings in cases involving new service or new instrument of service.

Among the batch of supplementary demands including proposals for technical supplementary grants/appropriations for Rs 2,295.45 crore which are matched by commensurate savings or additional receipts/recoveries, the major items include Rs 500 crore by way of provision for additional ways and means advances to State Governments, Rs 400 crore payment to IFCI to strengthen its capital base by simultaneous reinvestment in appropriate Government securities and Rs 801.92 crore to Engineering Projects India Ltd for conversion of interest of Rs 675.95 crore outstanding of the company as per approved capital restructuring scheme and conversion of interest of Rs 125.97 crore outstanding against EPI into loan payable by the company in installments.

Other demands under this category include Rs 326.40 crore for adjustment of outstanding grant for PowerGrid Corporation of India received from the UK, Rs 169.30 crore for adjustments in accounts for the bonus share issue by Oil India Ltd (Rs 70 crore) an d by Bharat Petroleum Corporation Ltd (Rs 99.30 crore) and Rs 36.78 crore by way of interest subsidy to Sponge Iron India Ltd for payment of accumulated/penal interest as on end-March 2000.

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