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Major Subsidies Outgo in April-May at 39% of Budget Estimate for 2019-20

Major Subsidies Outgo in April-May at 39% of Budget Estimate for 2019-20

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  2 July 2019 8:12 AM GMT

New Delhi: Major subsidies have touched 39 per cent of the budget estimate (BE) for 2019-20 at Rs 2,96,684 crore in April-May vis-a-vis 34 per cent of the Budget Estimate in the same period previous fiscal.

Total subsidies up to May 2019 was Rs 1,15,059.00 crore of the BE of Rs 2,96,684 crore while the same was Rs 88,689.12 crore in the corresponding period of the previous year.

According to the Controller General of Accounts (CGA) figures, food subsidy has touched Rs 77,388.07 crore as on May 2019, which is 42 per cent of the BE, as against Rs 73,636.24 crore or 43 per cent of BE recorded in the year ago period.

Urea subsidy for April-May 2019 amounted to Rs 15,708.45 crore; nutrient-based fertilisers subsidy in April-May 2019 touched Rs 7,740.48 crore and Petroleum subsidy in April-May 2019 reached Rs 14,222 crore

The food subsidy bill borne by the government has consistently risen since the 2014 budget. While food subsidy was at Rs 1.15 lakh crore in 2014, it swelled to Rs 1.69 lakh crore in the 2018 budget, marking an increase of about 47 per cent. (IANS)

Also Read: Market Outlook Low Expectations of Budgetary Stimulus To Subdue Equities

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