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The provision made during interim budget for major subsidies during 2014-15 are as under:
(i) | Fertilizer Subsidy | - | ₹ 67970.30 Cr. |
(ii) | Food Subsidy | - | ₹ 115000.00 Cr. |
(iii) | Petroleum Subsidy | - | ₹ 63426.95 Cr. |
(iv) | Interest Subsidies | - | ₹ 8462.88 Cr. |
(v) | Other Subsidies | - | ₹ 847.49 Cr. |
The provision made in R.E. 2013-14 for major subsidies are as under:
(i) | Fertilizer Subsidy | - | ₹ 67971.50 Cr. |
(ii) | Food Subsidy | - | ₹ 92000.00 Cr. |
(iii) | Petroleum Subsidy | - | ₹ 85480.00 Cr. |
(iv) | Interest Subsidies | - | ₹ 8174.85 Cr. |
(v) | Other Subsidies | - | ₹ 1889.90 Cr. |
The outlay of Union Government on ‘Major Subsidies’ is one of the major items of Revenue Expenditure (Non-Plan). It is the constant endeavor of the Government to bring down expenditure on Central subsidies while keeping in mind the support to marginally poor, SCs and STs.
Government has deregulated diesel prices in small increments. This is likely to reduce burden of Petroleum subsidy. Measures have also been initiated to reduce the administrative overheads for optimum utilization of outlays meant for food subsidy and rationalize fertilizer subsidy. Further, the strategy for direct transfer of subsidy using the Aadhar platform would ensure substantial economies in subsidy outgo.
This information was given by the Minister of State for Finance, Smt. Nirmala Sitharaman in written reply to a question in Lok Sabha today.
Subsidy reduction measures aim to contain fiscal outlay while protecting targeted beneficiaries through pricing and direct transfer reforms. Interim budget allocations for 2014-15 set out major subsidy outlays and the Government's objective to reduce expenditure on central subsidies while safeguarding marginal and disadvantaged beneficiaries. Measures to reduce subsidy burden include deregulation of diesel prices, administrative streamlining and rationalization of fertilizer and food subsidies, and implementation of direct transfer of subsidy via the Aadhar platform to improve targeting and generate economies.Press 'Enter' after typing page number.