Union Budget 2022 | Government subsidies to decline by 39%

The government's subsidies on food, fertilizers and petroleum are estimated to decline by 39% to ₹4,33,108 crore this fiscal and fall further by 27% to nearly ₹3.18 lakh crore in 2022-23.In its Re

The government's subsidies on food, fertilizers and petroleum are estimated to decline by 39% to ₹4,33,108 crore this fiscal and fall further by 27% to nearly ₹3.18 lakh crore in 2022-23.

In its Revised Budget estimate for the 2021-22 fiscal, the government has pegged total subsidies at ₹4,33,108 crore against the actual Budget Estimate of ₹7,07,707 crore in the previous financial year. Out of this, the food subsidy is estimated to decline to ₹2,86,469 crore in the current fiscal from ₹5,41,330 crore in 2020-21, while petroleum subsidy is estimated to fall to ₹6,517 crore from ₹38,455 crore in the said period.

However, fertilizer subsidy is estimated to increase to ₹1,40,122 crore during the ongoing fiscal from ₹1,27,922 crore in the previous fiscal.