HomeNationalCentre announces Rs 24,475 crore subsidy for winter crop fertilisers

Centre announces Rs 24,475 crore subsidy for winter crop fertilisers

New Delhi, Sep 18 (IANS) The Union Cabinet on Wednesday approved nutrient-based subsidy (NBS) rates for the upcoming Rabi crops on phosphatic and potassic (P&K) fertilisers with a budgetary outlay of Rs 24,475.53 crore.

The Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal of the Ministry of Chemicals and Fertilisers that would ensure the availability of fertilisers to farmers at subsidised, affordable, and reasonable prices.

It will also offer rationalisation of subsidy on P&K fertilisers in view of recent trends in the international prices of fertilisers and inputs.

“The subsidy on P&K fertilisers will be provided based on approved rates for Rabi 2024 to ensure smooth availability of these fertilisers to the farmers at affordable prices,” said the Cabinet in its decision.

The government is making available 28 grades of P&K fertilisers to farmers at subsidised prices through manufacturers and importers.

According to the ministry, the subsidy on P&K fertilisers is governed by the NBS scheme, in accordance with the government’s farmer-friendly approach.

In view of the recent trends in the international prices of fertilisers and inputs (urea, DAP, MOP and sulphur), the government decided to approve the NBS rates for Rabi 2024, effective from October 1 till March 31, 2025, on phosphatic and potassic fertilisers. The subsidy would be provided to the fertiliser companies as per approved and notified rates so that these are made available to farmers at affordable prices.

Last month, the government said it had paid out a subsidy of Rs 36,993.4 crore during the first four months of the current financial year (April-July 22) to ensure adequate availability of fertilisers at affordable prices to farmers in the country. According to Minister of State Anupriya Patel, under the DBT (direct benefit transfer) in fertilisers system, 100 per cent subsidy on various fertiliser grades is released to the fertiliser companies, on actual sales to the beneficiaries based on Aadhaar authentication through POS devices installed at each retail shop. A subsidy of Rs 1.95 lakh crore was released in the last year (2023-24) to provide farmers with fertilisers at lower prices. In February this year, the Centre had announced Rs 24,420 crore subsidy for summer crop fertilisers.

–IANS

na/vd

Go to Source

Disclaimer

The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

For any legal details or query please visit original source link given with news or click on Go to Source.

Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.

If you are not willing to accept this disclaimer then we recommend reading news post in its original language.

RELATED ARTICLES
- Advertisment -

Most Popular