Food subsidy stood at Rs 2.94 trillion in FY22, Rs 1.47 trillion spent on PMGKAY – CASINOIN -Sports betting at the casinoin betting company,casinoin online betting, casinoin bookmaker line, casinoin bookmaker bonuses, casinoin bookmaker, casinoin bookmaker, casinoin sports betting, casinoin bookmaker, casinoin bookmaker,

The government has allocated more than Rs 2.94 trillion towards food subsidy expenses to Food Corporation of India and to state government owned agencies in 2021-22, an official statement on Wednesday stated.

Out of the total expenses under food subsidy last fiscal, Rs 1.47 trillion was for implementation of Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), where 5 kg of foodgrains is provided free monthly to each of around 80 crore beneficiaries under National Food Security (NFSA). This entitlement of foodgrain under PMGKAY excludes 5 kg of highly subsidised rice and wheat provided monthly to beneficiaries under NFSA.

The PMGKAY was first rolled out as a comprehensive relief package in March 2020, ‘to reach out to the poorest of the poor’ and ‘help them fight the battle against Covid-19’.

Through the five phase implementation of PMGKAY till March 31, 2022, the government has provided 75.8 mt of foodgrains with a subsidy burden of Rs 2.6 trillion, according to the official statement. With another 24.4 mt of free foodgrains under this extension (Phase VI) till September 2022, the aggregate allocation of free foodgrains under the PM-GKAY would now stand at more than 100 mt.

The budgetary provisioning for food subsidy last fiscal was less than Rs 5.4 trillion allocated in 2020-21, out of which Rs 3.4 trillion was provided for settling loans availed by FCI under the National Small Savings Fund.

Around 70% of the government’s food subsidy budget is routed through FCI and the rest is provided to state governments which follow a decentralised procurement system.

The government had transferred Rs 2.3 trillion as Minimum Support Price (MSP) for procurement of more than 94 million tonne (mt) of rice and wheat from 1.54 crore farmers in 2021-22.

As per the budget estimates, the government has made provision of Rs 2.06 trillion under the food subsidy head for 2022-23. However, this provisioning does not include `0.8 trillion additional expenses to be incurred under the PMGKAY, as the programme was recently extended till September-end, 2022.

The economic cost of food grains procurement by the FCI, which includes expenses such as MSP payment to farmers, procurement, acquisition and distribution costs, etc for rice and wheat are Rs 3,597.17 and Rs 2,499.69 per quintal, respectively, in 2021-22, while the government distributes rice and wheat to beneficiaries under NFSA at Rs 3 and Rs 2 per kg, respectively.

Food ministry recently stated that even though the Covid-19 pandemic has significantly abated and economic activities are gathering momentum, PM-GKAY extension till September 2022 would ensure that “no poor household goes to bed without food during this time of recovery”.

To address anemia and micro-nutrient deficiency, the cabinet committee on economic affairs last week had approved a proposal to supply fortified rice to all beneficiaries under NFSA, Integrated Child Development Services (ICDS), Pradhan Mantri Poshan Shakti Nirman (PM POSHAN) and other welfare schemes by March, 2024.

According to food ministry officials, around 35 mt of fortified rice is required for supply grain to beneficiaries of NFSA, ICDS, PM POSHAN and other schemes annually with an estimated cost of Rs 2,700 crore, which would be part of the central government’s food subsidy budget.

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Author: Howard Caldwell