Cabinet approves subsidy for P&K fertilisers, to cost Rs 22,875 cr in 2019-20

NEW DELHI, July 31: The Union Cabinet on Wednesday, chaired by Prime Minister Narendra Modi, announced the subsidy rates for Phosphatic and Potassic (P&K) fertilisers to “ensure the availability of fertilisers to the farmers on affordable price”.
“The Cabinet Committee on Economic Affairs has approved the Nutrient Based Subsidy (NBS) rates for P&K fertilisers for the year 2019-20”, said Union I & B Minister Prakash Javadekar after the Cabinet meeting.
The Minister also said that the subsidy for Nitrogen has been fixed at Rs 18.90 per kg, Phosphorous at Rs 15.11 per kg, Potash at Rs 11.12 per kg and Sulphur at Rs 3.56 per kg for the current fiscal. the Minister said.
“The expected expenditure for release of subsidy on P&K fertilisers during 2019-20 will be Rs. 22,875.50 crore”, Mr Javadekar added. He also said that the move will enable the manufacturers and importers to formalise supply contracts for fertilisers and fertilizer inputs and make fertilisers available to the farmers in the year 2019-20.
According to an official release, the Union government is making available fertilisers, Urea and 21 grades of P&K fertilisers to farmers at subsidized prices through fertiliser manufacturers/importers. The subsidy on P&K fertilisers is being governed by NBS Scheme since April 1, 2010. (UNI)

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