Food And Fertiliser Subsidies To Hit 4 Lakh crores In Next Budget

New Delhi, Jan 17 (KNN) India assures to allocate approximately 4 lakh crores (USD 48 billion) for food and fertiliser subsidies in the upcoming fiscal year, as disclosed by two government sources on Wednesday.

The Ministry of Consumer Affairs, Food and Public Distribution has projected a food subsidy bill of 2.2 lakh crores (USD 26.52 billion) for the next fiscal year, marking a 10 per cent increase from the current year's estimate, reported by ET.

Food and fertiliser subsidies currently constitute about one-ninth of India's total budget spending, which stands at 45 lakh crores for the ongoing fiscal year concluding on March 31.

Furthermore, the fertiliser subsidy for the next fiscal year is anticipated to be 1.75 lakh crores (USD 21.10 billion), reflecting a decrease from the current fiscal year's estimate of nearly 2 lakh crores.

This move aligns with a targeted approach to balance fiscal responsibility while addressing critical sectors.

As the nation prepares for elections, this allocation emphasises the government's commitment to sustaining essential subsidies while navigating economic challenges.

(KNN Bureau)