India Subsidy Bill May Top $67 Billion in Risk to Budget Goals

Indian Oil Corp. Indane brand liquefied petroleum gas (LPG) cylinders at a village warehouse in Greater Noida, Uttar Pradesh, India, on Monday, Feb. 22, 2021. Provisions for LPG cooking fuel subsidies, launched in 2016 by the Modi government offering cash rebates for purchasing an LPG connection and a loan for the first canister of the fuel and stove, were halved in the federal budget for the fiscal year ending March 2022 to 124.8 billion rupees ($1.7 billion) from 255 billion rupees a year earlier. Photographer: T. Narayan/Bloomberg