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India Seeks Approval for Additional Government Spending
The Indian government has sought parliamentary approval to spend an additional 514.63 billion rupees ($5.90 billion) on a net basis for the current financial year ending March 31.
Key Allocations
Telecom Network Upgrades
India is seeking 53.2 billion rupees to improve telecom networks in underserved areas. This includes payments for dues to employees of state-run Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd.
Unified Pension Scheme
A provision of 70 billion rupees has been requested for the Unified Pension Scheme, which will be implemented from April 1, 2025 for federal government employees.
Overall Budget Impact
For the 2024/25 financial year, India plans to spend 6.79 trillion rupees ($77.84 billion) in total. However, a significant portion of this will be covered through unutilized funds from government departments.