No LPG Shortage, Economy Resilient To West Asia Shocks: FM Sitharaman In Parliament
Through the second batch of supplementary demands, the centre had sought Parliament’s approval for spending a gross of Rs 2.81 lakh crore extra in the current fiscal year: Reports
New Delhi: Hitting out at the Opposition on various issues, including the current LPG crisis, energy expansion, fertiliser availability among others, Union finance minister Nirmala Sitharaman on Tuesday said that India is well positioned to withstand global shocks, mostly due to West Asia conflicts.
“I reassured Parliament on uninterrupted LPG supplies amid West Asia tensions and detailed fresh allocations, including funds for fertilisers, MSMEs and pending the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) dues, under the government’s supplementary spending plan,” she said, while replying the debate to a discussion on the grants.
Parliament, however, approved the second batch of supplementary demands, enabling the government to spend additional Rs 2.01 lakh crore in FY26.
Through the second batch of supplementary demands, the centre had sought Parliament’s approval for spending a gross of Rs 2.81 lakh crore extra in the current fiscal year.
With additional receipts of Rs 80,000 crore estimated for the current fiscal year in the supplementary, the net additional cash spending will be Rs 2.01 lakh crore. After Sitharaman’s reply to a discussion on the grants, the Rajya Sabha returned the bill with a voice vote. The Lok Sabha had passed the demand for grants on March 13.
During her reply, Sitharaman said that India’s economy stands at a position of strength, highlighting the country’s economic resilience amidst global shocks amid middle-east conflicts.
“Despite West Asia tensions, the nation’s strong position will withstand disruptions, including uninterrupted LPG supplies, where domestic LPG output up by 25 per cent to offset import risks, and emphasised the growing dominance of non-fossil fuel energy capacity as well,” she said.
“We are also ensuring a steady flow of LPG even during turbulent times. We are also ramping up domestic LPG production capacity, which is helping in meeting our demand. So to ensure that households don't suffer, not only are there steady streams of shipping lines coming in, but domestically we have also ramped up the capacity for production of the LPG, diverting from other hydrocarbon material to LPG production. As a result, domestic supplies will be adequately streamlined, and supplies will remain steady,” Sitharaman said.
On energy stability, Sitharaman also said that India is among the top countries in solar and wind energy capacity, while the cost of solar power has fallen sharply over the past decade.
“On macroeconomic stability, India has navigated successive global disruptions, from the Covid-19 pandemic and supply chain breakdowns to the Russia-Ukraine war, inflation spikes, and trade conflicts, without severe domestic shocks,” she said.
Besides, she also said India has enough fertiliser for kharif crops and the government will start bidding globally to procure nutrients for next rabi season.
“Among other key allocations, the centre has provided Rs 19,230 crore in advance for fertiliser procurement to prepare for the upcoming rabi season, noting that global tendering begins months ahead. An additional Rs 5,000 crore has been earmarked as central assistance for Jammu and Kashmir,” she added.
On MGNREGA dues, the finance minister also said that the Rs 30,000 crore-provision would be used to settle pending liabilities under the MGNREGA, addressing concerns, which have been raised by several states over delayed payments.
“The scheme will receive its full Rs 95,000 crore allocation from April 1 as announced in the Union Budget,” the finance minister said.
