COLUMNISTS
ECONOMY
INDUSTRY
FINANCE
ARCHIVES

Rs 90 billion for subsidies, up Rs 1 billion

The government has earmarked Rs 90 billion as food subsidy for 1998-99 representing an increase of Rs 1 billion.

The sugar subsidy has been retained at Rs 4 billion while the subsidy on indigenous nitrogenous fertiliser has been reduced from Rs 66 billion last year to Rs 60 billion. However, the subsidy on decontrolled phosphatic and pottasic fertilisers has been increased from Rs 26 billion last year to Rs 30 billion in the Budget.

Presenting the Budget, Finance Minister Yashwant Sinha said the increase in food subsidy was a necessity due to recent revision in minimum support price of wheat procurement from Rs 475 per quintal to Rs 510 a quintal and to clear the arrears pertaining to previous year.

Budget '98