The government sought the approval of Parliament to spend an additional 1.48 lakh crore for the current financial year 2022 -- 23 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, according to the second batch of subsidy requests by the Minister for Finance Pankaj Chaudhary in Lok Sabha, which includes additional subsidies of Rs 21,000 crore for P&K phosphorus and potassium and Rs 15,325. 36 crore were allocated for urea. The government has pegged the fund requirement for additional transfers to the Universal Service Obligation Fund USOF at Rs 25,000 crore. There would be an additional outgo of 33,718 as per the supplementary. 49 crore for Defence Pensions, especially on account of payment of arrears towards the One Rank One Pension OROP scheme. The requirement to transfer additional funds to the GST Compensation Fund towards states and Union Territories has been pegged at Rs 33,506 crore. The Parliament is expected to approve gross additional expenditure of Rs 2,70, 508.89 crore. The proposals involving net cash outgo aggregate to Rs 1,48, 133.23 crore and gross additional expenditure are matched by savings of the Ministries Departments or enhanced receipts recoveries aggregates to Rs 1,22, 374.37 crore, said the statement on supplementary demands for grants. Icra Chief Economist Aditi Nayar said the net cash outgo under the supplementary demand for grants is dominated by fertiliser subsidiary, defence pensions, the telecom sector and GST compensation, which account for 73 per cent of the total amount. The likelihood of a slight slippage relative to the revised estimate of FY 2023 is raised by the fact that a portion of the net cash outgo of Rs 1.48 lakh crore may be offset by savings under other heads. The expectations of monetary tightening at the upcoming policy review are likely to cause bond yields to take a cue from global yields, according to Nayar. As part of the supplementary demands for grants, Chaudhary sought additional Rs 3,711 crore for the Union Territory of Jammu and Kashmir. Of the total additional amount, Rs 2,625. A total of 25 crore is being sought to meet the expenditure on pensions.