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LATEST NEWS UPDATES | No decision yet on extending PMGKAY beyond Dec: Food subsidy to cross Rs 3 trillion this fiscal -Sandip Das

No decision yet on extending PMGKAY beyond Dec: Food subsidy to cross Rs 3 trillion this fiscal -Sandip Das

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published Published on Nov 21, 2022   modified Modified on Nov 28, 2022

-Financial Express

2022-23 expenses likely to be the second highest since FY21

The government’s food subsidy expenses in the current fiscal are likely to cross Rs 3.1 trillion, up 50% from the outlay made at the beginning of the year.

Sources told FE that the estimated food subsidy expenses in 2022-23 would be the second highest since FY21, when the finance ministry had made a provision of Rs 5.4 trillion, of which Rs 3.4 trillion was towards settling loans availed by the Food Corporation of India (FCI) from the National Small Savings Fund.

The government had settled the loans of FCI in FY21 and brought all food subsidy expenses into the Budget, ending the practice of off-budget financing of a part of the subsidy.

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Financial Express, 21 November, 2022, https://www.financialexpress.com/economy/no-decision-yet-on-extending-pmgkay-beyond-dec-food-subsidy-to-cross-rs-3-trillion-this-fiscal/2865944/


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