Japan Lower House Passes 106-T.-Yen Budget for FY 2021
Tokyo, March 2 (Jiji Press)--The Japanese House of Representatives on Tuesday passed the government's fiscal 2021 draft budget with record general-account spending of 106,609.7 billion yen.
The regular budget for the year starting in April cleared the lower chamber of the Diet, the country's parliament, by a majority vote at a plenary meeting. It was submitted to the House of Councillors, the upper chamber.
The budget is certain to be enacted within fiscal 2020, as a constitutional provision stipulates that a state budget be enacted automatically in 30 days from the Upper House's receipt of the budget, even without a vote by the chamber, after Lower House approval.
Under the draft, the general-account spending is slated to hit a record high for the ninth consecutive year, marking an increase of 3.8 pct from the fiscal 2020 initial budget.
[Copyright The Jiji Press, Ltd.]