New Delhi: The government on Tuesday announced the subsidy of RS 28.655 Crore about phosphate fertilizer and Potasic (P & K) to ensure that farmers got it at affordable prices during the sowing season of Rabbi, which began this month.
Tuesday’s announcement ensured that the price of farmers remained unchanged.
The decision came before the election of assembly above, Punjab and Uttarakhand.
The Economic Cabinet Committee (CCEA) approved the Nutrition-based subsidy rate (NBS) for P & K fertilizer for the period October 2021 to 2022 March.
Under the NBS, the subsidy rate per kg (nitrogen) has been set at RS 18,789, P (Phosphorus) RS 45.323, K (Potassium) Rs 10,116 and S (Sulfur) Rs 2,374, according to an official statement.
It was said, “The clean subsidy needed for Rabi 2021-22 after deducting savings will be RS 28.655 Crore.” In June, the CCEA has raised subsidies for the diammonium phosphate and several other nonurea fertilizers of Rs 14,775 Crore.
The government has allocated almost Rs 79,600 Crore for fertilizer subsidies in a budget of 2021-22 and the numbers can rise after additional subsidy provisions.