Lok Sabha approves 45 Trillion Budget without any Discussion

Lok Sabha - 45 Trillion Budget - Trillion Budget - Budget - Discussion - Budget 2023 - Taxscan

On 23rd March 2023, the Lok Sabha passed the Appropriation bill of 45 Lakh Crore without any debate for the current fiscal year (2023-24).  The second leg of the budget session started from March 13. 

The current session of Parliament is anticipated to end on April 6. After the financial exercise is finished, it has been considered that the session’s duration might be reduced.

According to the reports, the lower house passed the bill within 9 minutes and without any discussion. The Appropriation Bill gives power to the government to withdraw funds from the Consolidated Fund of India for meeting the expenditure during the financial year.

After the political issues and adjournment of the session, at 6 pm, the sabha again started the session. The Union Finance Minister Nirmala sitharaman presented the appropriation bill which passed within less than 12 minutes completing the 2/3rd of the parliamentary approval.

The Budget Papers indicate that the projected total spending for 2023–24 is Rs. 45,03,097 crore, of which the total capital expenditure is predicted to be Rs. 10,00,961 crore.

The predicted total expenditure for the current fiscal year, which ends on March 31, 2023, is Rs 41.8 lakh crore, which is Rs 3.9 lakh crore higher than the expenditure for 2021–22. Effective Capital Expenditure is predicted to increase by 30.1% over Revenue Expenditure  2022–23 to Rs. 13.7 lakh crore in 2023–24.

In contrast to previous instances, the Lok Sabha did not discuss the designated ministries’ Demands for Grants this time. Discussions on the ministries of railroad, rural development, health and family welfare, Panchayati Raj, tribal affairs, tourism, and culture were approved by the Business Advisory Committee.

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