The Cabinet approves an increase in P&K fertilizer subsidies for the Kharif season

8.The Cabinet approves an increase in P_K fertilizer subsidies for the Kharif season

The Union Cabinet, headed by Prime Minister Shri Narendra Modi, accepted the Department of Fertilizers proposal for Nutrient Based Subsidy (NBS) prices for Phosphatic and Potassic (P&K) fertilizers for the Kharif Season – 2022. (from 01.04.2022 to 30.09.2022).

Cabinet has granted a subsidy of Rs 60,939.23 crore for the NBS Kharif-2022 (from 01.04.2022 to 30.09.2022), which includes support for indigenous fertilizer through cargo subsidy, additional support for indigenous production and Di-ammonium phosphate (DAP) imports.

The Union Government has agreed to pay a subsidy of Rs 2501 per bag on DAP instead of the current subsidy of Rs 1650 per bag, representing a 50% increase over the previous year’s subsidy rates.

The price of DAP and its basic materials has increased by almost 80%. It will assist farmers in receiving notified P&K fertilizers at subsidized, affordable, and acceptable costs, thereby supporting the agriculture industry.

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