Japan plans supplementary budget of $27 mn

Tokyo, Dec 5 (IANS) The Japanese government has planned to set the size of its supplementary budget for fiscal 2015 at 3.3 trillion yen ($27 billion), the media reported on Saturday.

To help finance the extra budget, the government will use 1.9 trillion yen in excess tax revenues, The Japan Times quoted government sources as saying.

The government is expected to adopt its proposal at a Cabinet meeting by December 18 and submit it at the beginning of a parliament session, to be convened on January 4, 2016, the sources said.

The government will also cut debt-servicing costs, as long-term interest rates have stayed lower than expected, the sources said.

The extra budget will cover key policy measures planned by the administration of Prime Minister Shinzo Abe, such as those aimed at promoting citizens’ engagement in society and easing the impact of the launch of the Trans-Pacific Partnership (TPP) free trade area.

The government will earmark 300 billion yen for a cash handout programme that will provide low-income pensioners with 30,000 yen per person.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here