Budget 2022: Farmers can get big relief in budget; govt likely to increase food and fertilizer subsidies

The budget for the financial year 2022-23 will be presented by the Central Government on February 1. Union Finance Minister Nirmala Sitharaman will present the general budget on the table of Parliament. Meanwhile, the budget session of Parliament will begin on Monday. Every section of society, from the common man to the employees to the professionals, has some or the other expectation about the budget. In this year's budget, there is talk that food subsidy for the poor and fertilizer subsidy for farmers may be increased. According to the information received, the government may allocate about 40 billion dollars in food and fertilizer subsidies in the budget.

India's corollary bills have skyrocketed due to the Corona pandemic and the rapid rise in global prices of chemicals. The central government has doubled the fertilizer subsidy this financial year. Sources said the pending payments could be the highest ever in the new budget. Finance Minister Nirmala Sitharaman will present the budget on Tuesday. According to finance ministry sources, the government will provide Rs 1.1 billion for fertilizer subsidy and Rs 2 billion for food subsidy in the budget. For the current financial year, the finance minister had set a budget of Rs 835 billion for fertilizer subsidy, but the actual allocation could increase to a record Rs 1.5 trillion.