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Centre seeks approval to spend extra 1.48 trillion

Published on March 14, 2023
Current context: The government sough parliament’s approval to spend an additional of Rs. 2.7 trillion for the current fiscal.
Centre seeks approval to spend extra 1.48 trillion
  • The fiscal deficit is at 6.4% of Gross Domestic Product.
  • In FY23, an extra of Rs. 29656 crores for fertilizer subsidy is a key component. The fertilizer subsidy spending will be at Rs.2.55 trillion against the budget of RS.1.05 trillion.
  • An increased of Rs.6000 crores is seeked from Consolidatory Fund of India for fertilizer subsidy. The Centre will save a sum on Centrally sponsored scheme (CSS).
  • For regular pension, an additional of Rs.33,718 crores is sought from the government.
  • Till March 5th, the Centre has released about Rs.3.1 trillion to states or about 70% of the CSS.


Q 1 The fiscal deficit is at ______of Gross Domestic Product.
a. 6.8%
c. 6.4%
d. 3.4%

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