THE GOVERNMENT'S FOOD subsidy expenses for FY24 were around 2.2 trillion, ₹8,000 crore more than the revised estimate (RE), and the outgo for FY25 would need to revised upward by more than 35,000 crore from the budget estimate (BE), an official source told FE.
The initial projection of the subsidy outgo by the ministry of food and public distribution for 2024-25 is ₹2.42 trillion, the source said, citing the likely rise in MSPs of wheat and rice.
In the interim Budget for 2024-25, the government had provisioned ₹2.05 trillion under the food subsidy head.
"The expenses under food subsidy for FY25 will be reflected in the Budget to be presented in July," the official said.
Over the last two fiscal years, MSPs of paddy and wheat witnessed an increase in the range of 5-7% annually.
The FCI's economic costs for rice and wheat for 2023-24 is estimated to have increased ₹39.18/kg and ₹27.09/kg, from ₹35.62/kg and 24.67/kg, respectively in 2021-22.
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