India is considering allocating around $48 billion for food and fertilizer subsidies in the upcoming fiscal year, according to government sources. The food subsidy bill for the next fiscal year is estimated to be $26.52 billion, representing a 10% increase from the current year’s projected outlay of nearly $24.11 billion. Additionally, the fertilizer subsidy for the next fiscal year is expected to be $21.10 billion, a slight decrease from the current year’s estimate. The subsidies, which account for about one-ninth of India’s total budget spending, indicate fiscal caution ahead of the general election scheduled for April and May.