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Government Seeks Rs 62 Crore Infusion In Air India For This Year’s Expenses



New Delhi:

The Government on Friday sought Parliament”s nod to infuse over Rs 62,000 crore into the corporate that holds residual property and liabilities of Air India after its privatisation, as a part of over Rs 3.73 lakh crore extra spending deliberate within the present monetary 12 months.

The additional spending would come with Rs 58,430 crore by means of extra fertiliser subsidy, Rs 53,123 crore in direction of fee of pending export incentives and Rs 22,039 crore to rural growth ministry for switch to National Rural Employment Guarantee Fund.

Minister of State for Finance Pankaj Chaudhary tabled the second batch of supplementary calls for for grants tabled in Lok Sabha envisaging a internet money outgo of over Rs 2.99 lakh crore and Rs 74,517 crore additional expenditure can be matched by financial savings by totally different ministries.

As per the doc, Rs 62,057 crore can be given to the Civil Aviation Ministry for fairness infusion in Air India Assets Holding Company (AIAHL) for re-payment of previous authorities assured borrowing and previous dues/liabilities of Air India.

Besides, a further Rs 2,628 crore can be given in direction of loans and advances to Air India for recoupment of advance from Contingency Fund of India.

The extra fertiliser subsidy embrace Rs 43,430 crore on account of fee in direction of indigenous and imported Phosphatic and Potassic (P&Ok) Subsidy and Rs 15,000 crore in direction of urea subsidy scheme.

Besides, the Department of Food and Public Distribution can be given a further Rs 49,805 crore for assembly expenditure in direction of varied schemes of meals storage and warehousing.

About Rs 2,400 crore can be given to Department of Commerce for assembly expenditure in direction of subsidies beneath the ”Interest Equalisation Scheme”, and Investment beneath the Export Credit Guarantee Corporation (ECGC) scheme, amongst others.

Another over Rs 5,000 crore and over Rs 4,000 crore has been earmarked for added spending by the Ministries of Defence and Home, respectively.

The 2021-22 Budget had projected authorities”s complete expenditure at Rs 34.83 lakh crore. But that is anticipated to overshoot contemplating the 2 batches of supplementary calls for for grants introduced by the federal government up to now.

The authorities had in August acquired Parliament nod for internet extra spending Rs 23,675 crore within the first batch of supplementary calls for for grants.

(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)

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