Budget 2016: Subsidies on food, fertiliser and petroleum are a bane on government finances but dealing with them, simply slashing or cutting them entirely is not possible due to the political backlash, which is a fraught task. Arun Jaitley in Budget 2016 has looked to tinker with it and here is the result. Arun Jaitley's Budget 2016 has pegged subsidies lower by over 4 per cent to nearly Rs 2.31 lakh crore for 2016-17. The subsidy bill on food, petroleum and fertilisers is estimated at Rs 2,31,781.61 crore for 2016-17 fiscal, according to the Budget proposals. The subsidy bill was Rs 2,41,856.58 crore for 2015-16 (revised estimates).