Economy India to spend 6.5% more on food subsidies in fiscal year 2019-20 Updated : January 23, 2019 07:49 PM IST The government is set to earmark about 1.8 trillion rupees ($25.28 billion) for food subsidies next fiscal year as it tries to contain its budget deficit ahead of the next general election due by May. Its budget targets for the next two years are already under pressure because of plans to make various payments to farmers to offset low crop prices. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.