Rs 28,000 crore fertiliser subsidy ahead of key elections | India News


NEW DELHI: The government on Tuesday announced a Rs 28,655 million subsidy on phosphate and potassium (P&K) fertilizers to ensure farmers get them at affordable prices during the rabi planting season, which begins this month. Tuesday’s announcement ensures that prices for farmers remain unchanged.
The decision occurs before the elections to the assembly in UP, Punjab and Uttarakhand.
the Cabinet Economic Affairs Committee (CCEA) approved Nutrient Based Subsidy (NBS) rates for P&K fertilizers for the period from October 2021 to March 2022. Under the National Bureau of Standards, the subsidy rates per kg of N (nitrogen) have been set at Rs 18,789, P (phosphorus) Rs 45,323, K (potassium) Rs 10,116 and S (sulfur) Rs 2,374, according to an official statement.
It read: “The net subsidy required for Rabi 2021-22 after deducting the savings will be Rs 28,655 crore.” In June, the CCEA had increased subsidies for diammonium phosphate and some other non-urea fertilizers by Rs 14,775 million. The government had allocated almost Rs 79,600 crore for fertilizer subsidies in the 2021-22 Budget and the figures could increase after the additional subsidy provisions.

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