| Rs. 74551 Crore Food Subsidy for Current Year | ||||||||||
Food Subsidy is released to Food Corporation of India (FCI) and Decentralised Procurement (DCP) States on distribution of foodgrains as the difference between cost of foodgrains procured and Central Issue Price (CIP). Under Decentralised Procurement (DCP) Scheme, States undertake the responsibility of procurement of foodgrains, its storage and distribution under Targeted Public Distribution System (TPDS). The entire difference between the economic cost offoodgrains and Central Issue Price (CIPs) is reimbursed to these States directly as food subsidy. This information was given by Prof. K.V. Thomas, Minister for Consumer Affairs Food and Public Distribution System in a written reply in LokSabha today.
The Minister stated that as per the current policy, an advance subsidy covering 90% of the estimated requirement is released during every quarter based on estimates given by DCP States. At the end of the quarter, based on provisional estimates given by States, provisional subsidy at 100% of fixed costs (Minimum Support Price, Bonus and Taxes) and 95% of variable costs (i.e. other remaining procurement incidentals) is released. The remaining actual subsidy is released based on the final audited statements submitted by DCP States.
The food subsidy allocated during the last three years and current year is as under:-
(Rs. in crore)
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Tuesday, September 4, 2012
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