Govt eyes savings in major subsidies; spending on food at 84% of RE

The government has spent 87 per cent, or Rs 3.6 trillion, of the total Revised Budget Estimates for financial year 2023-24 (FY24) on major subsidies till February, at almost the same level of 88 per cent in the corresponding period last financial year, according to the latest data released by the Controller General of Accounts (CGA). 

The data also shows that the government’s external financing of the deficit has reached 148 per cent of the Revised Estimate till February 2024, compared to 118 per cent till the same month a year ago. 

Of the total major subsidies, spending on food touched 84