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Food subsidy bill for FY24 to breach ₹2L cr
Hindustan Times
|January 18, 2024
The government's food subsidy bill for fiscal year 2024 is likely to overshoot the budgeted estimate of 1.97 lakh crore, prompting the food department to seek additional funds primarily to support its flagship programmes.
The revised allocation for the ongoing fiscal year is expected to go up by 3% to ₹2.02 lakh crore, a top official of the department of food and public distribution told Mint.
The department needs an extra ₹5,600 crore for decentralised procurement of foodgrains under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) scheme, and sugar subsidy for families covered under the Antyodaya Anna Yojana programme, this official said, declining to be identified.
India's food subsidy likely to go up next year as well, as the government recently extended the PMGKAY scheme, its flagship food welfare programme, for another five years ahead of this year's general election.
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