Ahead of the full Budget 2024, the Indian government plans to retain the subsidy allocation at Rs 4.1 trillion for the fiscal year 2024-25, aligning with the interim budget announced earlier. This represents a 7% decrease from the revised estimate of Rs 4.41 trillion in 2023-24. The Economic Times reported that despite this reduction, senior officials indicate no change in the subsidy bill projections. There are speculations of potential increases in funding for rural schemes, particularly in housing subsidies for urban poor under PM Awas Yojana.
Government to Maintain Subsidy Allocation in Budget 2024
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