Rajaraja Chola
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I heard about 40% of India's budget is just money for subsidies. That's like $160B a year.
Not sure about 40pc. But yes, a large part goes into subsidy, that we are left with no credit for development schemes likes road, hospitals, schools etc . So we are taking debts from fixed deposit reserves in bank and postal offices, and pay back with interest.
Costs should have been raised step by step slowly. But in the last 15 years or so, fares for public transports, fuels were not raised, putting pressure on govt. So now when it bites our CAD, everybody are waking up. Even now, they cannot rise prices arbitrarily. All people will be affected including me.