India seeks parliament's nod to spend additional $5.9 billion in 2024/25

NEW DELHI (Reuters) -The Indian government has sought parliament's approval to spend an additional 514.63 billion rupees ($5.90 billion) on a net basis for the current financial year ending March 31, according to a statement released on Monday.

India is seeking approval to spend 53.2 billion rupees to upgrade telecom networks in underserved areas, and pay dues to employees of state-run Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd, the statement said.

The government has also sought approval to make a provision of 70 billion rupees for the new Unified Pension Scheme for federal government employees that rolls out from April 1, 2025.

While India would gross spend 6.79 trillion rupees ($77.84 billion) for 2024/25, a majority of this would be met through unutilised expenditure by government departments.

($1 = 87.2500 Indian rupees)

(Reporting by Nikunj Ohri and Shubham Batra; Editing by Jacqueline Wong and Varun H K)

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