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Budget 2023: Govt sets the stage for lowering food subsidy bill next fiscal

Food subsidy is likely to peak this fiscal year, allowing the finance minister more space to lower the budget deficit

January 25, 2023 / 06:58 AM IST

By deftly managing the withdrawal of the pandemic-era free foodgrain scheme, the government has set the stage for lowering its food subsidy outgo in the next financial year.

Beginning April 1, the food subsidy outgo should fall to Rs 2.1 lakh crore, in line with the government’s estimates, according to QuantEco Research economist Yuvika Singhal.

Finance Minister Nirmala Sitharaman is due to table her budget for next financial year on February 1 amid expectations of measures to boost growth while lowering the fiscal deficit.

Also Read: Growth to slow in 2023-24, but India to remain among the 'healthiest' in G-20: Moody’s | MC Interview