Reduction In Subsidies In Various Industrial Sectors In India

The expense of Union Government on 'Major Subsidies' is one of the significant things of Revenue Expenditure (Non-Plan). It is the steady attempt of the Government to cut down consumption on Central subsidies while remembering the backing to imperceptibly poor, Scs and Sts.

Government has deregulated diesel costs in little augmentations. This is liable to decrease load of Petroleum subsidy. Measures have likewise been launched to diminish the authoritative overheads for ideal use of expenses implied for sustenance subsidy and advocate compost subsidy. Further, the methodology for immediate exchange of subsidy utilizing the Aadhar stage would guarantee considerable economies in subsidy outgo.

This data was given by the Minister of State for Finance, Smt. Nirmala Sitharaman in composed answer to an inquiry in Lok Sabha today.

The provision made during interim budget for major subsidies during 2014-15 are as under:

             (i)         Fertilizer Subsidy        -           Rs. 67970.30 Cr.

            (ii)        Food Subsidy  -                       Rs. 115000.00 Cr.

            (iii)       Petroleum Subsidy      -           Rs. 63426.95 Cr.

            (iv)       Interest Subsidies        -           Rs.8462.88 Cr.

            (v)        Other Subsidies           -           Rs. 847.49 Cr.

The provision made in R.E. 2013-14 for major subsidies are as under:

            (i)         Fertilizer Subsidy        -           Rs. 67971.50 Cr.

            (ii)        Food Subsidy  -                       Rs. 92000.00 Cr.

            (iii)       Petroleum Subsidy      -           Rs. 85480.00 Cr.

            (iv)       Interest Subsidies        -           Rs. 8174.85 Cr.

            (v)        Other Subsidies           -           Rs. 1889.90 Cr.