Highlights

  • Subsidies form a tenth of the total annual expenditure of the government
  • India plans over $40bn for food, fertiliser subsidy

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Narendra Modi Govt has already raised fertiliser subsidies twice in this fiscal year, and reported said that its payouts for 2021/22 could be its highest yet

Union Budget 2022: India is likely to set aside about Rs 3 lakh crore ($40 billion) on food and fertiliser subsidies in Budget 2022, marking a second year of record spending on subsidies ahead of crucial polls.

India's subsidy bills have spiralled due to pandemic relief measures for the poor and a sharp rise in global prices of chemicals.

North Block has already raised fertiliser subsidies twice in this fiscal year, and reports say that its payouts for FY22 could be its highest yet.

Also Watch: Where is your tax money being spent by the govt?

According to reports, In the Budget Finance Minister Nirmala Sitharaman is due to present on Tuesday, the government will allocate ₹1.1 lakh crore to fertiliser subsidies, and ₹2-lakh crore to food subsidies.

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