India subsidy outgo up at Rs 2.16 lakh cr
The subsidy outgo is estimated to have risen by over Rs 1.59 lakh crore during the last six years ending 2011-12 due to higher outgo on food, fertiliser and petroleum subsidies.
"Total subsidy payable in 2011-12 was estimated at Rs 2,16,297 crore in revised estimate (RE) 2011-12 against Rs 57,125 crore in 2006-07", Minister of State for Finance Namo Narain Meena said in a written reply to the Rajya Sabha today.
Food subsidy bill in 2011-12 increased to Rs 72,823 crore, from Rs 24,014 in 2006-07, while fertiliser subsidy rose to Rs 67,199 crore from Rs 26,222 crore during the period under review.
Petroleum subsidy shot up to Rs 68,481 crore in FY12, from Rs 2,699 crore in FY07, while other subsidies payout were at Rs 7,794 crore in fiscal 2011-12 from Rs 4,190 crore in 2006-07.
In a separate reply, Finance Minister Pranab Mukherjee said the amount involved in direct taxes dispute stood at Rs 4,36,741 crore as on December 31, 2011, in 2,59,523 cases.
He said there was a rise in the number of cases and the amount of money locked in direct tax disputes during financial year 2010-11 as compared to previous year.
The tax dispute involved Rs 4,05,952 crore in 2,59,378 cases in 2010-11, Rs 3,11,235 crore (2,41,237) in 2009-10 and Rs 2,16,632 crore (2,28,385) in 2008-09.
SOURCE: financialexpress.com
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