GOVERNMENT OF INDIA

MINISTRY OF FINANCE

LOK SABHA

UNSTARRED QUESTION NO: 1983

ANSWERED ON:08.03.2013

SUBSIDY

MURLI MANOHAR JOSHI

(a) the details of GDP growth registered during each of the last three years and the current year;

(b) the amount of subsidy outgo during the same period along with the sector- wise break-up thereof, year-wise; and

(c) the steps taken/being taken by the government to give relief to the common man?

Will the Minister of FINANCEbe pleased to state:- 

 MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)

(a) The growth rate in Gross Domestic Product (GDP) at factor cost at constant (2004-05) prices, for the period 2009-10 to 2012-13 is given in the Table 1 below.

Table 1: Gross Domestic Product at constant (2004-05) prices (percentage growth)

2009-10 2010-11@ 2011-12# 2012-13AE

Gross Domestic Product at factor cost 8.6 9.3 6.2 5.0

Source: Central Statistics Office (CSO). 

AE: Advance Estimates, #: First Revised Estimates, @: Second Revised Estimates Third Revised Estimates.

(b) The amount of Central Government subsidies along with the sector-wise break- up is given in Table 2 below. 

Table 2: Central Government Subsidies (Rs.crore) 

2009-10 2010-11 2011-12 2012-13 (RE)

Food Subsidy 58443 63844 72822 85000

Fertiliser subsidy 61264 62301 70013 65974

Petroleum subsidy 14951 38371 68484 96880

Other subsidies 6693 8904 6622 9800

Total subsidies 141351# 173420 217941 257654

# Excludes securities issued to oil companies. RE: Revised Estimates. 

c) Several steps have been undertaken for the recovery of growth including the setting up of the Cabinet Committee on Investment (CCI) to fast track large investment projects; strengthening of financial and banking sector; disinvestment in certain Public Sector Undertakings; permitting FDI in areas including multi- brand retail, power exchanges and aviation; fiscal consolidation, etc. The Union Budget 2013-14 has outlined several initiatives to boost investment in infrastructure and industry, that inter alia include encouraging Infrastructure Debt Funds, credit enhancement to infrastructure companies, raising the corpus of Rural Infrastructure Development Fund, introduction of investment allowance for new high value investments, etc. These measures would help revive market confidence. In addition, measures including reduction in import duties and suspension of futures trading in certain commodities, tightening of monetary policy, etc. have been undertaken to control inflation.