Cabinet Decision
Cabinet likely approved extra subsidy for DAP fertilisers, say govt sources
This story was originally published at 13:22 IST on 1 January 2025
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--Govt sources: Cabinet Wed likely approved extra subsidy for DAP fertilisers
--Govt sources: Cabinet likely okayed over INR 30 bln subsidy for DAP fert
--Govt sources: Cabinet may extend Pradhan Mantri Fasal Bima Yojana
By Kuldeep Singh
NEW DELHI – The Union Cabinet on Wednesday has likely approved an additional allocation of subsidy worth over INR 30 billion for diammonium phosphate fertilisers, according to government sources. DAP fertiliser is widely used for rabi crops such as wheat, pulses, and mustard.
The Union Budget for 2024-25 (Apr-Mar) had allocated INR 1.64 trillion towards fertiliser subsidy, 13.18% lower than the revised estimate of INR 1.88 trillion for FY24. Under the Nutrient Based Subsidy Scheme, the government gives subsidy for 25 grades of non-urea fertilisers, including DAP. The maximum retail price of DAP is INR 1,350 per bag (1 bag = 50 kilogram). The government is likely to hike the subsidy on DAP by INR 150-200 per bag, sources said.
The DAP subsidy and the extension of the Pradhan Mantri Fasal Bima Yojna were on the agenda of the Cabinet meeting on Wednesday, a source said.
Sources said the Cabinet has also likely approved the extension of the Pradhan Mantri Fasal Bima Yojana. The crop insurance scheme was launched in 2016. It aims to support production in agriculture by providing affordable crop insurance for farmers against all non-preventable natural risks from pre-sowing to post-harvest stage. End
Edited by Tanima Banerjee
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