New Delhi: The federal government on Wednesday accepted Rs 24,474.53 crore subsidy on phosphatic and potassic (P&Okay) fertilisers for the rabi season of 2024-25 to make sure provide of crop vitamins to farmers at inexpensive charges.
The Union Cupboard, chaired by Prime Minister Narendra Modi, has accepted the Nutrient Based mostly Subsidy (NBS) charges for rabi season 2024 (from October 2024 to March 2025) on P&Okay fertilizers.
“The tentative budgetary requirement for rabi season 2024 could be roughly Rs 24,475.53 crore,” an official assertion mentioned. Prime Minister Narendra Modi in a put up on X said: “This step can even cut back the price of cultivation for farmers”.
“To make sure steady provide of fertilizers to our farmer brothers and sisters at inexpensive charges, we now have accepted the charges of nutrient-based subsidy for the Rabi season of 2024,” Modi mentioned.
Union Minister of Chemical substances and Fertilizers Jagat Prakash Nadda in a put up on X mentioned that this essential choice will guarantee the provision of fertilizers to farmers at sponsored and cheap costs, apart from offering incentive for growing Rabi crop manufacturing.
The federal government is making accessible 28 grades of P&Okay fertilizers to farmers at sponsored costs via fertilizer producers/importers. The subsidy on P&Okay fertilizers is ruled by the NBS scheme with impact from April 1, 2010.
“In view of the latest tendencies within the worldwide costs of fertilizers & inputs i.E. Urea, DAP, MOP and sulphur, authorities has determined to approve the NBS charges for Rabi 2024 on P&Okay fertilizers,” the assertion mentioned.
The subsidy could be offered to the fertilizer corporations as per accepted and notified charges of N (nitrogen), P (phosphorus) and Okay (potash) in order that fertilizers are made accessible to farmers at inexpensive costs, it added.
