Union Budget 2022-23 | Government subsidies to decline by 39%

• Posted in OilGas
• on February 3, 2022
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The government’s subsidies on food, fertilizers and petroleum are estimated to decline by 39% to ₹4331.08 billion this fiscal and fall further by 27% to nearly ₹3180 billion in 2022-23.

In its Revised Budget estimate for the 2021-22 fiscal, the government has pegged total subsidies at ₹4331.08 billion against the actual Budget Estimate of ₹7077.07 billion in the previous financial year. Out of this, the food subsidy is estimated to decline to ₹2864.69 billion in the current fiscal from ₹5413.30 billion in 2020-21, while petroleum subsidy is estimated to fall to ₹65.17 billion from ₹384.55 billion in the said period.

However, fertilizer subsidy is estimated to increase to ₹1401.22 billion during the ongoing fiscal from ₹1279.22 billion in the previous fiscal.

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