Informist, Friday, Jul 26, 2024

--Govt source: Cabinet may OK 70-bln-rupee subsidy for DAP-based fert

By Kuldeep Singh

NEW DELHI – The Cabinet in its meeting today may approve an additional subsidy of 70 bln rupees for diammonium phosphate-based fertilisers, a government official told Informist. The Cabinet meeting is scheduled to be held at 1830 IST today. According to government sources, there are around seven items listed on the agenda.

The Budget presented on Tuesday estimated the fertiliser subsidy bill for 2024-25 (Apr-Mar) at 1.64 trln rupees, down 13.2% on year. On Feb 29, the government had approved the proposal of the Department of Fertilisers for the inclusion of three new fertiliser grades under the nutrient-based subsidy scheme for the ongoing kharif season.

It also approved the revision in nutrient-based subsidy rates for various nutrients--nitrogen, phosphorus, potash and sulphur--for the kharif season (Apr-Sep), and approved rates for phosphatic and potassic fertilisers. The tentative budgetary requirement for the season would be approximately 244.20 bln rupees.

The subsidy for nitrogen fertiliser has been set at 47.02 rupees per kg and for phosphatic at 28.72 rupees per kg. Potash will be priced at 2.38 rupees a kg and sulphur at 1.89 rupees per kg. There has been an increase in the subsidy on phosphatic fertilisers to 28.72 rupees per kg for the 2024 kharif season, up from 20.82 rupees per kg in the 2023 rabi season.

Additionally, Cabinet may also approve 6.5 bln rupees for the construction of a hydropower project in Nepal. End

Written by Sayantan Sarkar

Edited by Aditya Sakorkar

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