India seeks parliament nod for net $4.62 billion in extra spending for 2025-26

India's government sought parliament's approval on Monday for net 414.55 billion rupees ($4.62 billion) in additional spending for the fiscal year, proposing extra allocations for defence procurements, and subsidies on fertiliser and cooking gas.

The government sought lawmakers’ approval for Rs1.32 trillion in gross extra spending this fiscal year, documents showed.

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In a statement on the first batch of supplementary demands for grants, Finance Minister Nirmala Sitharaman said that the federal government has proposed Rs41.03 billion for defence to meet procurement needs and cover higher capital expenses.

The government has sought Rs125 billion to compensate state-run oil marketing companies for under-recoveries made on selling cooking gas and Rs110 billion in additional fertiliser subsidy for both domestic and imported phosphatic and potassic fertilisers.

The total net cash outgo includes a spend of Rs75.25 billion to cover the higher cost of imported urea.

The proposed additional spending comes on top of the government's budgeted expenditure of Rs50.65 trillion for the current fiscal year that ends on March 31.

The supplementary allocations will now be scrutinised by parliamentary panels before being put to a vote in both houses. Approval is typically a formality given the ruling party’s majority.