India’s fiscal deficit will remain within the Revised Estimates (RE) for FY25-26, Union Finance Minister Nirmala Sitharaman told the Lok Sabha today during the Budget session of Parliament, according to a PTI report.
In the Revised Estimates for the current fiscal year, the Center reduced the total expenditure to ₹49.65 million crores, from ₹50.65 lakh crore in the budget estimates. While FY26 fiscal deficit was estimated at par with BE FY26 at 4.4% of GDP.
Figures from the Comptroller General of Accounts (CGA) show that at the end of January, the center was spending ₹36.90 lakh crores.
“As a result of the second amendment, there is no increase in expenditure beyond BE 2025-26,” Sitharaman said. She spoke amid sloganeering by opposition members over fears of a shortage of liquefied petroleum gas (LPG).
Second batch of additional requirements
“The ₹`1,00,000 crore Economic Stabilization Fund will provide fiscal space to enable India to respond to global headwinds,” Sitharaman said in the Lok Sabha while replying to the debate on the second round of supplementary grant requests in the Lok Sabha on March 13.
According to the minister, the fund will act as a buffer to absorb shocks arising from unforeseen global challenges such as the current one in West Asia. added.
The Lok Sabha passed the second batch of additional grant requests, allowing the government to spend more ₹2.01 lakh crore in the current fiscal. The Center sought approval from the Lok Sabha through a second series of supplementary demands for gross expenditure ₹2.81 million crores in addition in the current fiscal year, additional income of Rs ₹80,000 million crowns.
Additional requests for subsidies include subsidy expenditures for the establishment of the Economic Stabilization Fund ₹1 lakh crore. Parliament also asked for additional spending ₹19,230 crore for fertilizer subsidy ₹23,641 crore for subsidies under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY). Other major expenses include ₹41,822 crore for the Ministry of Defence.
On the shortage of LPG and liquefied natural gas (LNG) in the country due to the war in West Asia, due to which states have submitted additional requests for grants, the finance minister added, “There will be no shortage of fertilizers for farmers, adequate measures have been taken.
Appropriation Bill 2026 in Parliament today?
According to an ANI report, Sitharaman was scheduled to move the Bill 2026 for introduction, consideration and approval in the Lok Sabha today.
It appeared from the business list that the finance minister was going to introduce the bill and then propose that it be considered and approved, subject to a vote on supplementary grant applications for 2025-26, she added.
The Appropriations Bill, 2026 seeks to authorize the payment and appropriation of certain additional amounts from the Consolidated Fund of India for services for the fiscal year 2025-2026.
- Minister of State Anupriya Patel planned to make a statement correcting an earlier reply in the House regarding GST for the foreign medical postgraduate examination.
- Union Law Minister Arjun Ram Meghwal will make a statement outlining the government’s legislative work for the week commencing 16
- The Lok Sabha will take up private members’ business where several MPs are expected to introduce legislation, including laws on the Minimum Support Price Guarantee for farmers, prevention of mob lynching, welfare of fishermen, regulation of travel agencies, rehabilitation of Kashmiri Pandits and reservation for Scheduled Castes and Scheduled Tribes in the private sector.
- The second phase of the budget session is scheduled for April 2, during which crucial legislative matters and the Union budget for 2026-27 are expected to be primarily addressed.
- The session, which began on January 28 with the President’s address to a joint session of both chambers, includes 30 sessions in 65 days until April 2.
(With input from agencies)
