Govt okays Rs 24,420cr subsidy for P&K fertilisers for '24 kharif season
The Centre on Thursday approved Rs 24,420 crore subsidy on Phosphatic and Potassic (P&K) fertilisers for the 2024 kharif season -- April 1 to September 30 under nutrient based subsidy (NBS) scheme.The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal. With new subsidy rate farmers will continue to get key soil nutrient DAP (Di-ammonium Phosphate) at Rs 1,350 per bag.
Team RuralVoice
The Centre on Thursday approved Rs 24,420 crore subsidy on Phosphatic and Potassic (P&K) fertilisers for the 2024 kharif season -- April 1 to September 30 under nutrient based subsidy (NBS) scheme.The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal. With new subsidy rate farmers
will continue to get key soil nutrient DAP (Di-ammonium Phosphate) at Rs 1,350 per bag (50kg).
Briefing reporters, I&B Minister Anurag Thakur said the subsidy on Nitrogen (N) has been fixed at Rs 47.02 per kg, Phosphate (P) at Rs 28.72 per kg, Potash (K) at Rs 2.38 per kg, and Sulphur (S) at Rs 1.89 per kg for 2024 kharif season.
The subsidy on phosphate has been raised to Rs 28.72 per kg for the 2024 kharif season from Rs 20.82 per kg in the 2023-24 rabi season. However, the subsidy on Nitrogen (N), Potash (K) and Sulphur (S) has been kept unchanged for 2024 kharif season.
"With this subsidy, DAP which is sold currently at Rs 1,350 per bag (50 kg), will continue to be available at the same rate in the upcoming 2024 kharif season," the minister said, adding that Muriate of Potash (MoP) will also continue to be available at the current price.
In order to reduce the import dependence on DAP, the cabinet approved the inclusion of three new fertiliser grades under the Nutrient Based Subsidy (NBS) scheme.
The decision comes days ahead of the announcement of the Lok Sabha election schedule when the Model Code of Conduct will come into force with immediate effect, putting a ban on major announcements and key policy decisions that are populist in nature.
