2023-11-29 02:14:00
The central government in New Delhi has announced a substantial subsidy for various schemes, with Rs.4.03 lakh crore being earmarked for the current financial year of 2023-24. However, it seems that the subsidies for fertiliser, cooking gas, and food security schemes are higher than initially planned.
As a result, the subsidy expenditure for the current financial year is expected to increase by Rs.50 thousand crore to Rs.4.53 lakh crore. It is important to note, however, that this amount is less than the subsidy expenditure of Rs.5.62 lakh crore in the last financial year.
Specifically, Rs 1.75 lakh crore has been earmarked for fertilizer subsidy in the current financial year. However, it is estimated that an additional Rs 25 thousand crore will be required due to the rise in prices in the international market.
Similarly, the central government has announced a subsidy of Rs.300 for gas cooking cylinders, which will require an additional Rs.10,000 crore. Additionally, Rs.1.97 lakh crore has been earmarked for food subsidy, with an estimated additional Rs 15,000 crore required due to the increase in procurement prices for agricultural produce and the extension of the free food grain scheme.
It is crucial to keep an eye on the budget allocation and expenditure to ensure that the subsidies are being utilized effectively and efficiently to benefit the intended recipients.
#Central #governments #subsidy #expenditure #increase #crore #budget #allocation #Central #Govt