New Delhi, Aug 6 (IANS) The Parliament has passed the Appropriation (No. 3) Bill, 2026, which seeks to authorise expenditure from the Consolidated Fund of India towards excess spending incurred during the financial year ended on March 31, 2023, with the Rajya Sabha returning the legislation to the Lok Sabha after a discussion on Thursday.
The Lok Sabha had already passed the bill on Tuesday by a voice vote.
Finance Minister Nirmala Sitharaman moved the bill for consideration and return.
In her reply to the debate in the Upper House, the Finance Minister said that the government has sought approval for excess expenditure incurred during the financial year 2023. She highlighted that the demand for excess grants pertains to two specific items identified by the Public Accounts Committee in its 39th report presented to the House in April this year. Sitharaman stated that one excess demand is of over Rs 196 crore, which relates to the Ministry of Railways, while the second demand of Rs 53,871 crore pertains to repayment of debt.
Referring to concerns raised by members regarding Jammu and Kashmir, Sitharaman assured the House that the government has extended substantial financial and administrative support to the Union Territory after the abrogation of Article 370 in 2019. She informed that the salaries and pensions of Jammu and Kashmir Police are being fully made by the Central government, involving an annual expenditure of around Rs 13,000 crore.
Participating in the discussion, M Thambidurrai of AIADMK said that under the leadership of Prime Minister Narendra Modi, India is today progressing as one of the fast-growing major economies in the world. He said the government has taken important initiatives for infrastructure development, digital governance, manufacturing, connectivity, and welfare schemes. Mr Thambidurai said that these efforts contribute to economic growth and improve delivery of public services.
Supporting the Bill, Bhashyam Rama Krishna of TDP said that under the leadership of Prime Minister Modi, India has continued to remain among the world’s fastest-growing major economies, despite unprecedented global uncertainty. He said India’s macroeconomic fundamentals remain strong because of sustained reforms, prudent fiscal management, and consistent policy implementation.
–IANS
sps/vd
