The Centre's food subsidy expenses for FY25 may exceed ₹2.25 lakh crore, which is ₹13,000 crore more than the revised estimate (RE) for 2023-24 and ₹20,000 crore higher than the budget estimate (BE) for the current year, according to official sources.
The increased subsidy requirement is due to rising costs associated with maintaining a large stockpile of rice, along with an increase in the minimum support price (MSP) for wheat and rice.
The finance ministry has released over 75% of the budget estimate (BE) of ₹2.04 lakh crore for the current fiscal to the Food Corporation of India (FCI) and states that follow decentralised procurement systems, acting as intermediaries for the subsidy programme.
This story is from the December 30, 2024 edition of Financial Express Pune.
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This story is from the December 30, 2024 edition of Financial Express Pune.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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