Informist, Wednesday, Sep 18, 2024

--Cabinet OKs 244.75 bln rupees for nutrient-based fertiliser subsidy

NEW DELHI – The Union Cabinet today approved a tentative 244.75-bln-rupee nutrient-based subsidy for the 2024-25 rabi season (Oct-Mar) for phosphatic and potassic fertilisers.

The approval of the subsidy will ensure the availability of fertilisers to farmers at subsidised, affordable and reasonable prices, according to an official release. The government has rationalised the subsidy on phosphatic and potassic fertilisers in line with recent trends in global prices, the release said.

The subsidy on phosphatic and potassic fertilisers will be provided based on approved rates for rabi to ensure smooth availability of these to the farmers at affordable prices, the release said. The government has been making available 28 grades of phosphatic and potassic fertilisers to farmers at subsidised rates through domestic manufacturers and importers, it said.

The full Budget for 2024-25 (Apr-Mar) has estimated the fertiliser subsidy at 1.64 trln rupees, down 13.5% from 1.89 trln rupees last year. End

Reported by Sayantan Sarkar

Edited by Saji George Titus

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