Govt to carry over Rs 25,000 crore in pending petroleum subsidies to FY20


Govt to carry over Rs 25,000 crore in pending petroleum subsidies to FY20

The government could carry over as much as Rs 25,000 crore in pending petroleum subsidy payments to the coming financial year (2019-20, beginning April 1), as much as the budgeted estimate for 2018-19, Business Standard has learnt. This comes even as it is under pressure to meet a challenging fiscal deficit target of no more than 3.3 per cent of gross domestic product (GDP) for 2018-19.

For FY19, this subsidy was budgeted at Rs 24,933 crore — comprising Rs 20,377 crore for liquefied petroleum gas (LPG or cooking gas) and Rs 4,555 crore for kerosene. Sources indicate that Read More

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