Cabinet clears Rs 24,420 cr subsidy for P&K fertilisers in Kharif season
Cabinet allocates Rs 24,420 cr subsidy on phosphatic & potassic fertilisers for Kharif season 2024
Synopsis
The union Cabinet approved a subsidy of ₹24,420 crore for phosphatic and potassic fertilisers for the upcoming kharif season, while maintaining the rate for di-ammonium phosphate at ₹1,350 per bag of 50 kg. The Cabinet also approved three new fertiliser grades under the Nutrient-Based Subsidy scheme to reduce import dependence.
By ET Bureau
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The union Cabinet on Thursday approved a subsidy of ₹24,420 crore for phosphatic and potassic (P&K) fertilisers and kept the rate for di-ammonium phosphate (DAP) unchanged at ₹1,350 per bag of 50 kg for the upcoming kharif season.
The subsidy on phosphatic fertilisers has been increased to ₹28.72 per kg for the April-September 2024 kharif season from ₹20.82 in the 2023 rabi season. It has been kept unchanged at ₹47.02 per kg for nitrogen, ₹2.38 per kg for potassic and ₹1.89 per kg for sulphur fertilisers.
With the subsidy, DAP, which is sold at ₹1,350 per bag, and muriate of potash, which costs ₹1,670 per bag, will continue to be available at the same rate in the upcoming kharif season, while NPK will be available at ₹1,470 per bag.
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The Cabinet also approved the inclusion of three new fertiliser grades under the Nutrient-Based Subsidy (NBS) scheme in order to reduce the dependence on imports, information and broadcasting minister Anurag Thakur said at a press conference.The subsidy on phosphatic fertilisers has been increased to ₹28.72 per kg for the April-September 2024 kharif season from ₹20.82 in the 2023 rabi season. It has been kept unchanged at ₹47.02 per kg for nitrogen, ₹2.38 per kg for potassic and ₹1.89 per kg for sulphur fertilisers.
With the subsidy, DAP, which is sold at ₹1,350 per bag, and muriate of potash, which costs ₹1,670 per bag, will continue to be available at the same rate in the upcoming kharif season, while NPK will be available at ₹1,470 per bag.
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( Originally published on Feb 29, 2024 )