Rs 57,381 crore allocated for Economic Stabilisation Fund: Sitharaman

New Delhi [India], March 17 (ANI): Union Finance Minister Nirmala Sitharaman, replying to the debate on the Appropriation Bill, 2026 in Rajya Sabha on Tuesday, said that the government has allocated Rs 57,381.84 crore toward the Economic Stabilisation Fund as part of a broader strategy for budget disbursement and fiscal management.
She detailed various sectoral allocations aimed at meeting immediate financial requirements and long-term goals.
Sitharaman stated that approximately Rs 41,430 crore is designated for defence services. She noted that these funds are primarily directed toward spectrum charges and the ex-servicemen contributory health scheme.
"We are paying the spectrum charges which in any way will come back to the CFI and also for the ex-servicemen contributory health scheme, for which we are giving Rs 6,140 crores, which will benefit the ex-servicemen in their health requirements," she said.
The Finance Minister also highlighted a significant allocation for fertiliser subsidies, totaling Rs 19,230 crore. She clarified that this expenditure is intended to address additional requirements and unforeseen contingencies.
"I want to draw the attention of the House to the fact that this is only to meet additional requirements under the circumstances. This is for meeting any exigencies that may arise, Rs 19,230 crores, particularly for getting ready for importing fertiliser for the Rabi crop," Sitharaman explained.
The Minister also said that despite global "turbulent times....domestic LPG production has gone up by 25%, and the entire output of this ramped-up production is going to domestic consumers."
"In the LPG sector, we have been building capacity, and even in these times, the way in which we have ramped up domestic capacity in LPG is also proving helpful," she said.
The Minister noted that while nearly 65 per cent of India's LPG is imported, and "overwhelmingly majority of it, 90% of the 65% comes from the Strait of Hormuz," the government is taking proactive steps to avoid shortages.
"But we are not just depending on getting the steady flow even in troubled waters," Sitharaman stated, highlighting the shift toward self-reliance. She informed the House that on March 8, 2026, the government directed refineries and petrochemical complexes to "maximize LPG production by diverting propane, butane and propylene and butane streams to the LPG pool."
The Finance Minister linked these developments to the broader 'Atmanirbhar Bharat' initiative, noting that the ability to "ramp up domestic LPG production by 25% literally overnight" is the "outcome of a deliberate, decade-long energy transition strategy launched by the honourable Prime Minister even in 2014."
She stressed that "nothing is a standalone" and that "everything in this policy seems to come together in the name of Atmanirbhar" to meet emergency situations. (ANI)