Japan's Cabinet approves 4th extra budget for fiscal 2011

Japan's Cabinet on Tuesday approved a draft fourth extra budget worth about 2.53 trillion yen (about 32.4 billion U.S. dollars) for fiscal 2011 to boost the support measures for such areas as the country's auto industry and agriculture. The Japanese government said it will tap into resources like its tax revenues instead of issuing new bonds when compiling the supplementary budget. The move is believed to shore up the country 's fiscal health. Japan has implemented three extra budgets since this fiscal year began in a bid to support the reconstruction work following the March disasters.The draft fourth budget, not seen in the country since fiscal 1947, will be submitted to the parliament for deliberations early next year.