Supplementary Demands for Grants
- Context: The Lok Sabha has cleared the second set of Supplementary Demands for Grants for 2025–26. During this process, Union Finance Minister, proposed the establishment of an Economic Stabilisation Fund (ESF).
Economic Stabilisation Fund (ESF)
- The proposed ESF will have an allocation of ₹1 lakh crore.
- Its objective is to enable India to deal with global economic shocks, unexpected supply-chain disruptions, and other external crises.
About Supplementary Demands for Grants
- These are additional funds sought by the government when the amount initially approved by Parliament through the Appropriation Act for a particular service during the financial year proves inadequate.
- The proposal is presented by the President before both Houses of Parliament and must be approved before the end of the financial year.
- Part V, Article 115- Supplementary, additional or excess grants
Current Facts- Mazagon is India’s only shipyard to have built destroyers and conventional submarines for the Indian Navy. It was given Navratna status in 2024.
