Great news for farmers! Govt clears nutrient based subsidy for phosphatic, potassic fertilisers
Cabinet Committee on Economic Affairs (CCEA) today gave its approval for fixation of Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) Fertilisers for the financial year 2020-21. The decision was taken by the cabinet which was chaired by Prime Minister Narendra Modi
In what could be a great news for the Indian farmers, Cabinet Committee on Economic Affairs (CCEA) today gave its approval for fixation of Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) Fertilisers for the financial year 2020-21. The decision was taken by the cabinet which was chaired by Prime Minister Narendra Modi.
The approved rates for NBS are as under: -
Per Kg Subsidy rates (in Rs) are:
N - 18.789
P - 14.888
K - 10.116
S - 2.374
The CCEA also approved the inclusion of a complex fertiliser namely Ammonium Phosphate (NP 14:28:0:0) under the NBS Scheme, according to a government release. The expected expenditure for release of subsidy on P&K fertilisers during 2020-21 will be Rs 22186.55 cr, the release said.
The subsidy on the P&K will be provided on the subsidy rates approved by the CCEA to the fertiliser companies.
Government is making available fertilisers, namely Urea and 21 grades of P&K fertilisers to farmers at subsidised prices through fertiliser manufacturers or importers. The subsidy on P&K fertilisers is being governed by NBS Scheme since 1 April, 2010.
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"In accordance to its farmer friendly approach, the Government is committed to ensure the availability of P&K fertilisers to the farmers on affordable price. The subsidy would be released to fertiliser companies as per above rates so that they can make available fertilisers to farmers at a cheaper price than it would have been otherwise," the release said.
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