The government has sought an additional Tk 1.5 crore parliamentary approval as the expenditure has increased over the current fiscal year.
The central government has made this additional demand due to lack of sufficient funds to compensate the GST in the states and defense pensions.
When spending increases beyond the budget allocated for the fiscal year, it is customary for the federal ministry to seek Parliament’s approval for additional expenditures. Union Finance Minister Anurag Thakur presented the demand for additional expenditure in the Lok Sabha yesterday. Accordingly, an additional Rs 1.5 crore was sought for approval.
Out of this, the state will be spending Tk 20.5 crore on GST compensation, defense sector expenditure, Tk 1 crore, Tk 1,305 crore for defense sector pension projects and Tk 1,000 crore on national investment and infrastructure projects.
The fiscal deficit of the state has increased rapidly. The government has set a target to keep the fiscal deficit at Rs..67 lakh crore for the current fiscal. However, the fiscal deficit in the current fiscal year from April to January was Tk 1.5 lakh crore.