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The details of fiscal deficit for the last three years, and estimated for the current year, along with reasons are given below:
(in crores of rupees)
2011-12 (Actuals) | 2012-13 (Actuals) | 2013-14 (Provisional) | 2014-15 (B.E.) | Reasons for fiscal deficit |
5,16,269 (5.8% of GDP) | 4,90,190 (4.9% of GDP) | 5,08,149 (4.5% of GDP)
| 5,31,177 (4.1% of GDP)
| Higher Government expenditurein comparison to total receipts is the main reason for fiscal deficit. |
Commodity-wise details of subsidies given during the last three years are as under:
(in crores of rupees)
Details of Subsidy | 2011-12 (Actuals) | 2012-13 (Actuals) | 2013-14 (R.E.) |
Fertiliser Subsidy | 70012.70 | 65612.81 | 67971.50 |
Food Subsidy | 72822.07 | 85000.00 | 92000.00 |
Petroleum Subsidy | 68484.01 | 96879.87 | 85480.00 |
Interest Subsidies | 5049.45 | 7270.37 | 8174.85 |
Other Subsidies | 1572.87 | 2315.55 | 1889.90 |
Total | 217941.10 | 257078.60 | 255516.25 |
Direct Benefit Transfer on LPG (DBTL) was rolled out with effect from 1st June, 2013 in 291 districts in phased manner, wherein disbursement of subsidy in cash was being transferred to Aadhaar seeded bank accounts of LPG consumers. DBTL has been put on hold since 28.2.2014 and Government had formed a Committee to look into the grievances of LPG consumers with regard to DBTL.
This information was given by the Minister of State for Finance, Smt. Nirmala Sitharaman in written reply to a question in Lok Sabha today.
Fiscal deficit highlights government expenditure pressures and subsidy payments; DBTL rollout later suspended pending review. The statement identifies a persistent fiscal deficit caused by higher government expenditure relative to receipts and itemises commodity-wise subsidy outlays (fertiliser, food, petroleum, interest and other subsidies) with aggregated totals reflecting their fiscal impact. It also records that the Direct Benefit Transfer on LPG was rolled out to transfer subsidy cash into Aadhaar-seeded bank accounts but has been suspended and placed under review in response to consumer grievances.Press 'Enter' after typing page number.