Page 4 - Subsidy

Govt refuses to pay excess Kisan Rail subsidy, Rlys 'writes off' Rs 71 cr

The Railways had to write off Rs 71.86 crore it spent as excess subsidy on Kisan Rail Services last fiscal, after the Ministry of Food Processing Industries refused to bear the additional cost citing a Rs 50-crore ceiling for the initiative, documents show. According to official data, the Railways spent Rs 121.86 crore as subsidy under the scheme which is more than double the amount of Rs 50 crore sanctioned in 2021-22 by the Ministry of Food Processing Industries (MoFPI) for the pro-farmer initiative. The national transporter was forced to "write off" the excess expenditure of Rs 71.86 crore after the MoFPI -- the nodal ministry for implementing the 'Operation Greens - TOP to total' scheme under which Kisan Rails operate -- deciding not to reimburse the outstanding amount. Under the scheme, a 50 per cent subsidy is offered directly to farmers and traders on railway transportation charges for fruits and vegetables. A ceiling of Rs 50 crore was set by the MoFPI as subsidy for the las

Will 'one nation one fertiliser' lead to uniformity or anonymity?

Under 'One Nation One Fertiliser' all fertiliser bags, irrespective of their contents or the company that manufactures them, will carry a uniform brand name called "Bharat"

Ladakh rolls out EV policy with subsidies to encourage buyers: Report

The Union Territory of Ladakh has announced a new electric vehicle policy with subsidies to encourage the citizens to procure e-vehicles in order to create a carbon-neutral future, an official spokesman said on Saturday. Ladakh's Electric Vehicle and Allied Infrastructure Policy aims to transform the UT into a torch bearer in terms of the adoption of electric vehicles in the country and envisions to encourage and cultivate an EV ecosystem, the spokesman said. He said the policy entails a capital subsidy of 10 per cent on two-wheelers, three-wheelers, and four-wheelers. To encourage sustainable and eco-friendly public transport, public buses will be given a capital subsidy of 25 per cent under the policy, the spokesman said. With a view to encouraging this shift to electric vehicles, he said the administration has offered an early bird subsidy for the first year of the policy. During the first year, the percentage of the subsidy for each type of vehicle would be double of the norma

Aadhaar number mandatory for availing of govt subsidies and benefits

Under Section 7 of the Aadhaar Act, a person not assigned an Aadhaar number "shall be offered alternative and viable means of identification for delivery of the subsidy, benefit or service"

Fertiliser stks prey to subsidy withdrawal risk, high input costs: Analysts

The risk of a breach of the government's fiscal deficit target could play a spoilsport for the sector as it could prompt the Centre to cut back on subsidy support, analysts believe.

Dept of Expenditure warns against extending the free food scheme: Report

In an internal note, the FinMin's Dept of Expenditure has warned that extension of the free food scheme beyond September or any more tax cuts will have consequences for the Centre's fiscal situation

India facing twin deficit problem due to commodity prices, subsidy: FinMin

Ministry's report urges rationalising non-capex spend not only for protecting growth supportive capex but also to avoid fiscal slippages

Will act against officers furnishing false info on schemes: Finance Secy

Letter sent to all Chief Secys of states and UTs said stated that if falsification of information is found, names of All India Service Officers will be passed on to DoPT by Finance Ministry

IMF asked Pak to show how it would fund $1.5 bn subsidy package: Minister

The International Money Fund (IMF) has asked Pakistan to explain how it would fund a $1.5 billion subsidy package announced by Prime Minister Imran Khan, Finance Minister Shaukat Tarin said on Sunday

Budget 2022: What to expect on bank privatisation, subsidy reforms?

The centre's plan to privatise two state-owned banks continues to be in limbo. Food and fertiliser subsidies are also going to be critical in Budget 2022. Let's take a deep dive on the estimates

Jharkhand's petrol subsidy scheme linked to monthly self-certification

CM Soren to launch scheme on January 26

Rane launches Credit Linked Capital Subsidy Scheme for services sector

The Minister for Micro, Small and Medium Enterprises (MSME) launched the scheme at Guwahati

Over a quarter of health subsidy cornered by the wealthiest 20%: PHFI

Low awareness combined with limited coverage means that the richest 20% get over a quarter of the health subsidy; only half of this goes to the poorest 20%

Fertiliser stocks ride high on subsidy hike: Here're the top gainers

Analysts say the hike in DAP subsidy will have a positive rub-off on fertiliser and agri-input companies

Best of BS Opinion: Redeeming India, dual regulation is bad, and more

Here are the best of Business Standard's opinion pieces for Thursday

Subsidy bill nears Rs 6 trn in FY21 on extra free foodgrain distribution

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

Delhi Cabinet okays over Rs 64 cr as cash subsidy to students for textbooks

Under 'Free Supply of Textbook supplies and Material 2020-2021', an additional recurring expenditure of ₹30.05 crore has been allocated

Cabinet approves Rs 22,810 cr EPF subsidy scheme for job creation

The proposal, Atmanirbhar Bharat Rojgar Yojana, announced earlier by SM Sitharman, aims to generate 5-6 million jobs by June next year

Govt extends 50% subsidy on fruits, vegetables handled through Kisan Rail

In order to operate the scheme, the MoFPI will initially provide Rs 10 crore, which will be deposited with South Central Railway

Govt panel suggests cash fertiliser subsidy of Rs 5,000 per year per farmer

If the government accepts this recommendation, the ongoing practice of transferring subsidy to fertiliser-producing companies will be discontinued