Krishi VaartaOutlook Agriculture
Increase in Subsidy on Nutrient Based Fertilizers
New Delhi: The central government has increased the subsidy on nutrient-based fertilizers. The estimated cost of subsidy on these fertilizers containing phosphorus, potash, sulfur and nitrogen during the financial year 2019-20 is estimated at Rs 22,875.50 crore.
Under the chairmanship of Prime Minister Narendra Modi, the Cabinet Committee on Economic Affairs (CCEA) approved the proposal of the Fertilizer Department for determining the subsidy rates based on nutrients for phosphatic and potassic (P & K) fertilizers for the year 2019-20. While giving information about Cabinet decisions, Union Information and Broadcasting Minister Prakash Javadekar said that the country consumes urea more, but the use of nitrogen, phosphorus, potash and sulfur fertilizers for agriculture is also important. The government also provides subsidies for this.
He said that presently subsidy of Rs 2.77 per kg on sulfur is being given, which has now been increased to Rs 3.56 per kg. Similarly, Nitrogen has now been given 18.90, Phosphorus 15.21 and Potash has been approved for Rs 11.12 per kg. CCEA approved nutritious based subsidy (NBS) rates for phosphate and potash fertilizers for 2019-20.
Source - Outlook Agriculture, 31 July 2019