Subsidy Bill

Punjab Chief Minister Bhagwant Mann Friday said the state has cleared its entire electricity subsidy bill of Rs 20,200 crore for the last financial year and has witnessed a jump in excise and GST revenue. Mann, addressing the media here, said the state has registered a revenue of Rs 8,841 crore for the financial year 2022-23, up by 41.41 per cent when compared to 2021-22. He claimed that Punjab's financial position was on the right track. Mann spelled out various initiatives taken by his over-a-year-old government in various spheres including health, education and power. "What we have achieved in one year, other governments were not able to do so in 15 years," he said. He also said his government has fulfilled several poll promises in the first year itself, "which other governments are not able to do even in the fifth year". He said his government has set a target of 10,000 crore in excise revenue for the current fiscal, as he criticised the previous governments for allowing "liq

Food subsidies are a major portion of subsidies provided by states

If PMGKAY was continued beyond December 2022, at least Rs 40,000 crore would have got spent for three months (Jan to March)

Shares of Coromandel International, Deepak Fertilisers, GSFC, Madras Fertilisers, National Fertilisers, RCF, and Zuari Agro Chemicals have soared up to 196 per cent so far this calendar year (CY22)

India's spending on subsidised foodgrain to the poor may rise to 2.7 trillion rupees ($32.74 billion) this fiscal year, as the govt continues to provide support to the poor at least until December

Losses at the UK subsidiary widened to £482 million, from £286 million, as JLR retail sales fell 37 per cent to 78,825 units from the year-ago quarter

After a year of limited activity, several economies are expecting a faster-than-usual bounce back to normal. This has led to an increase in commodity prices across the board

Asset sale to get Rs 1.75 trillion; transparent budgeting gets a leg-up

The government on Monday projected the subsidy bill on food, fertilisers, LPG and kerosene oil to fall by 43 per cent in the next fiscal to Rs 3.36 lakh crore from Rs 5.96 lakh crore in 2020-21

On Monday, Finance Minister Nirmala Sitharaman presented revised numbers of major subsidies

While govt would have saved Rs 18,000 cr by distributing 33 mn tonnes of grains that would otherwise have gone waste, its subsidy payout amounts to Rs 45,000 cr

India's food subsidies in the financial year starting April 1 have almost doubled from five years ago