200
(II) Under Major Head “2235” – “Other Social
Security and Welfare Programmes – Other
Expenditure - Payment to Life Insurance
Corporation of India for Pension Plan for Senior
Citizens” – saving of Rs.4267.00 lakhs (against
the sanctioned provision of Rs.26900.00 lakhs)
was due to receipt of less claims from Life
Insurance Corporation of India.
(III) Under Major Head “2416” – “Other
Expenditure - Grants to National Bank for
Agricultural and Rural Development
(NABARD)”– saving of Rs.7501.00 lakhs
(against the total sanctioned provision of
Rs.155442.00 lakhs including token
supplementary grant of Rs.1.00 lakh) was due to
receipt of less claims from NABARD as the
number of States, who signed MoUs for
strengthening of Cooperative Credit Structure fell
short than expected.
(IV) Under Major Head “2885” – “Industrial
Financial Institutions-Other Expenditure” -
savings occurred under the following heads:-
(A) “Grants to Industrial Credit and Investment
Corporation of India Bank”– saving of Rs.1504.83
lakhs (against the sanctioned provision of
Rs.2500.00 lakhs) was due to non-release of the
amount in time during the year.
(B) “Grants to Industrial Finance Corporation
of India” - saving of Rs.469.00 lakhs (against the
sanctioned provision of Rs.22500.00 lakhs) was
due to less demand from Industrial Finance
Corporation of India as balance for the previous
year was utilised during 2006–2007.
(C) “Subsidy in lieu of Concession in the rate
of interest on Loans” - saving of Rs.9925.29 lakhs
(against the total sanctioned provision of
Rs.9933.00 lakhs including token supplementary
grant of Rs.1.00 lakh) was due to winding up of
Industrial Investment Bank of India.
(D) “Grants to Small Industrial Development
Bank of India” - saving of Rs.1500.00 lakhs