Union budget (2015-16) - Interest Payments

Total Allocation for Interest Payments under MINISTRY OF FINANCE,2015-16. The entire expenditure included in this Appropriation is classified as 'Charged' on the Consolidated Fund of India under article 112 (3)(c)of the Constitution.The Appropriation provides for interest charges on Central Government's debt obligations, both internal and external. It also includes provisions for interest payable on provident funds, special deposits with the Government besides depreciation and other reserve funds of commercial departments, like Railways. Provision for management of debt and other liabilities of the Central government are also included in this Appropriation. The provision for interest/discount payment on dated securities/treasury bills issued under the Market Stabilisation Scheme(MSS) , in compliance with the provisions of the MOU on MSS dated March 25, 2004. The increase in the Budget Estimates 2015-2016 is mainly due to larger requirements for interest on market loans, Discount on Treasury Bills, charges payable for management of Debt, interest on securities issued against small savings collection and insurance and pension funds.