The government on Monday sought the approval of Parliament to spend an additional Rs 1.48 lakh crore (trillion) in the current financial year as part of the second batch of supplementary demands for grants.

An additional fund of Rs 36,325 crore is being sought for payment towards fertiliser subsidy.

This includes additional subsidy outgo of Rs 21,000 crore for P&K (phosphorus and potassium) fertilisers and Rs 15,325.36 crore for urea.

The demand for grants was tabled in the Lok Sabha by minister of state for finance Pankaj Chaudhary.

The government has pegged the fund requirement for additional transfers to the Universal Service Obligation Fund (USOF) at Rs 25,000 crore.

Besides, there would be an additional outgo of Rs 33,718.49 crore for defence pensions, especially on account of the payment of arrears towards the One Rank One Pension (OROP) scheme.

The requirement of additional transfer to the GST Compensation Fund towards states and Union Territories has been pegged at Rs 33,506 crore.

“The approval of Parliament is sought to authorise gross additional expenditure of Rs 2.70 lakh crore,” the statement said.

“Of this, the proposals involving net cash outgo aggregate to Rs 1.48 lakh crore and gross additional expenditure, matched by savings of the ministries/departments or by enhanced receipts/recoveries aggregates to Rs 1.22 lakh crore.”

Icra chief economist Aditi Nayar said the net cash outgo under the supplementary demand for grants is dominated by fertiliser subsidy, defence pensions, the telecom sector and GST compensation.