-IndiaSpend.com
As Finance Minister Arun Jaitley presents his third budget on Monday, February 29, 2016, our analysis of how seven parameters changed over 10 years (2006 to 2015) reveals that subsidies grew fourfold.
The rise in subsidies was echoed by the Economic Survey, which said that of the Rs 2.4 lakh crore ($34.8 billion) subsidy bill, Rs 1.03 lakh crore ($14.9 billion) goes to those who do not need it. “Bounties for the well-off”, as the Survey called them, include six commodities: Cooking gas, electricity, kerosene, railways, aviation fuel, public provident funds and gold–the last being taxed 1.6% or less, compared to 26% tax on “normal goods”.
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