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    HomeNewsBusinessEconomyIndia may cut subsidy bill by 20% in Budget: Sources

    India may cut subsidy bill by 20% in Budget: Sources

    The numbers imply four-fifths or USD 6.5 billion of the total savings will come from lower fuel subsidy costs. Other subsidy costs will only be cut by around 5 percent.

    February 23, 2015 / 09:59 IST

    India may slash its food and fuel subsidy bill by 20 percent, or about USD 8 billion, in the annual Budget to be presented next week, two government sources said.

    The sources said Finance Minister Arun Jaitley was likely to set the total Budget for subsidies at about USD 32 billion, down from USD 40 billion in the current financial year.

    The numbers imply four-fifths or USD 6.5 billion of the total savings will come from lower fuel subsidy costs. Other subsidy costs will only be cut by around 5 percent.

    first published: Feb 20, 2015 03:09 pm

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