-TheQuint.in After interest payments, food subsidies, fertiliser subsidy will be third largest single-budget govt expenditure. With the Government seeking an additional appropriation of Rs 1.09 crore through the first supplementary in the current session, India’s fertiliser subsidy bill is set to exceed Rs 2.37 lakh crore this fiscal 2022-23. Govt Expenditures Going Big on Fertiliser Subsidies Excluding interest, pensions, and mandatory transfers to state governments, the revised budgetary discretionary expenditure is likely to be...
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Fertiliser subsidy bill in FY'23 seen at Rs 2.3-2.5 lakh cr; may fall 25pc in FY'24: FAI
-Moneycontrol.com The fertiliser subsidy stood at Rs 1.62 lakh crore in the previous financial year. The government's fertiliser subsidy will rise to Rs 2.3-2.5 lakh crore in this fiscal but the bill may fall by 25 per cent in the 2023-24 financial year with moderation in global prices, according to industry body FAI. Fertilisers Association of India (FAI) expressed concern that the fixed cost of urea has not been increased affecting the viability...
More »No decision yet on extending PMGKAY beyond Dec: Food subsidy to cross Rs 3 trillion this fiscal -Sandip Das
-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...
More »Cabinet approves additional subsidy for P&K fertilisers -Zia Haq
-Hindustan Times The move will cushion prices of crop nutrients that are governed by the Centre’s nutrient-based subsidy (NBS) scheme New Delhi: The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi on Wednesday approved an additional ₹51,875 crore subsidy for phosphatic and potassic (P&K) fertilisers for the rabi or winter-sown season, amid high global prices. The move will cushion prices of crop nutrients that are governed by the Centre’s nutrient-based...
More »No ‘significant cuts’ expected in Budget Estimate for Central Ministries/Departments -Shishir Sinha
-The Hindu Business Line New accounting mechanism will help govt manage some savings; Revised Estimate for FY23 to be present in Budget for FY24 Initial indications from Inter-Ministerial meetings on the Budget show no significant cuts in allocations for various Ministries. It will be reflected in Revised Estimate (RE). Still, Finance Ministry could get high savings thanks to the new accounting mechanism. Inter-Ministerial meetings to finalise Revised Estimate for Fiscal Year 2022-23 and...
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