Govt likely to roll over Rs 35,000 crore in subsidy payments to next fiscal, says report

The government is likely to defer the financial arrangement of about Rs 35,000 crore in combined food, petroleum and fertiliser subsidies to the financial year 2019-20, in order to meet the revised fiscal deficit target of 3.4 percent, Business Standard reported, citing sources.

The interim Budget assumed the average  price of crude oil to be $65 per barrel for the next fiscal, which is the same as that of the current, the sources told BS, adding that if the sums mentioned above are not rolled over, the fiscal deficit can be as high as 3.5 percent.