While subsidies given in cash impacts fiscal deficit, those provided through bonds to oil, fertiliser and other sectors are not counted in the deficit.
Concerned that the subsidy bill for fertiliser and sugar sectors were mounting, the survey pointed out that they be decontrolled. The fertiliser subsidy bill surged to a record Rs 1,17,000 crore in 2008 due to unprecedented rise in the prices of farm nutrients in early part of the last fiscal.
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