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.