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Interim Budget 2019: Petroleum subsidy raised by 51% to Rs 37,478 crore

Finance Minister Piyush goyal said in his Budget speech that the country's fiscal deficit would overshoot the 2018-19 Budget estimate to stand at 3.4%

Interim Budget 2019: Petroleum subsidy hiked 51% to Rs 37,478 crore

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BS Web Team

Last Updated : Feb 01 2019 | 5:10 PM IST

In Interim Budget 2019, Finance Minister Piyush Goyal has projected the government's outgo on petroleum subsidies during the financial year to be Rs 37,478 crore, compared with the Rs 24,932.80 crore estimated in last Union Budget. The estimates for 2018-19 were marginally lowered in the revised estimates for the year to Rs 24,833.18 crore. when compared with 2018-19 (RE), the projection for the coming financial year are 51 per cent higher.

The increase in estimated subsidy outgo came even as the finance minister said in his Budget speech that the fiscal deficit would overshoot the Budget estimate for 2018-19 to

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