Govt approves Rs 60,939 crore subsidy for P&Ok fertilisers for April-September

The federal government on Wednesday authorized a subsidy of Rs 60,939.23 crore for phosphatic and potassic (P&Ok) fertilisers, together with DAP, for the primary six months of this fiscal, as a part of its efforts to supply soil vitamins to farmers at an inexpensive value.

The Union Cupboard has authorized nutrient-based subsidy (NBS) charges for Phosphatic and Potassic fertilisers for the Kharif season (from April 1, 2022, to September 30, 2022).

Briefing media concerning the Cupboard determination, Info and Broadcasting Minister Anurag Thakur stated the Cupboard has authorized a subsidy of Rs 60,939 crore on P&Ok fertilisers for the Kharif season towards the subsidy of round Rs 57,150 crore on these vitamins for the whole final fiscal.

He stated the subsidy on DAP (di-ammonium phosphate) has been elevated to Rs 2,501 per bag and the farmers will proceed to get the DAP at Rs 1,350 per bag.

Thakur stated the subsidy on DAP has been elevated to 2,501 per bag from 512 per bag in 2020-21.

The minister highlighted that whilst the costs of fertilisers have elevated sharply within the international markets, the federal government has ensured that the burden has not elevated for the farmers.

The Nutrient Primarily based Subsidy (NBS) Scheme is being applied since April 2010.

Beneath the NBS Coverage, a set fee of subsidy (in Rs per Kg foundation) is introduced on vitamins particularly Nitrogen (N), Phosphate (P), Potash (Ok) and Sulphur (S) by the federal government on annual foundation.

The per Kg subsidy charges on the vitamins N, P, Ok, and S are transformed into per tonne subsidy on the assorted P&Ok fertilisers lined beneath the NBS Coverage.

The federal government is making obtainable fertilisers, particularly urea and 24 grades of P&Ok fertilisers to farmers at subsidised costs by way of producers/importers.

Within the case of urea, the Centre fixes the utmost retail costs and reimburses the distinction between the MRP and manufacturing price in type of a subsidy.