Parliamentary Commission Doubles Funding for Monthly Cash Subsidies

Majlis Joint Commission has doubled the resources for the targeted subsidies policy in the next fiscal year’s (March 2021-22) budget. 
The Expenditure Committee of the parliamentary commission blueprinted next year’s cash and non-cash payment of subsidies on Saturday; they integrated two income grant plans and added more resources to pay a new round of handouts to the needy, Fars News Agency reported. 
Majlis Joint Commission, composed of representatives of all specialized parliamentary commissions, is responsible for reviewing budget bills as well as five-year development plans proposed by the government before they are put to a vote by MPs.
The commission has projected 1,400 trillion rials ($6 billion) in new resources that will be gained from the elimination of subsidized foreign currency at the rate of 42,000 rials per US dollar that is being granted to import essential goods for three years now. 
Also known as necessity goods, essential goods are products consumers will buy, regardless of changes in income levels.