Departments can submit any further recommendations within seven days of the conclusion of their pre-budget discussions with the finance ministry, which are planned to take place between 10 October and 14 November
The finance ministry solicited budgeting requests from various departments and ministries to be included in the first round of supplemental demands for grants for FY24.
Departments can submit any further recommendations within seven days of the conclusion of their pre-budget discussions with the finance ministry, which are planned to take place between 10 October and 14 November.
They are requested to be reasonable and impartial in their evaluation of additional needs. This request was made in an office letter from the Department of Economic Affairs (DEA). In the following session, the Parliament will be asked to approve the additional grant requests.
The DEA also added that the granny controlling authority must identify savings available within the grant while processing proposals for supplementary grants to weed out infructuous or inflated supplementary demands. It will also hep in avoiding the eventuality of surrender after supplementary grant is passed.
According to the existing laws, where re-appropriations may be done without the need for additional grants, no supplementary request, not even for a little sum, should be presented, the document stated. In the first five months of current fiscal year, the center’s fiscal deficit increased from 32.6 per cent to 36 per cent of the yearly target. Senior government officials have emphasised the Center’s intention to adhere to its fiscal year 2023-24 fiscal deficit objective of 5.9 per cent of GDP while noting that spending on specific initiatives may differ from the planned amounts.