Cabinet approves Rs 51,875 crore subsidy for phosphatic and potassic fertilisers for rabi season

New Delhi [India], November 3 (ANI): The Union Cabinet on Wednesday approved the proposal of the department of fertilizers for per kilogram rates of nutrient-based subsidy (NBS) for various nutrients for rabi season 2022-23, starting from October 1, 2022, to March 3, 2023.
These nutrients are nitrogen (N), phosphorus (P), potash (K) and sulphar (S) for phosphatic and potassic (P&K) fertilisers.
An official release said that subsidy approved by Cabinet for the nutrient-based subsidy (NBS) Rabi-2022 will be Rs 51,875 crore including support for indigenous fertiliser (SSP) through freight subsidy.
It said this would enable the smooth availability of all P&K fertilisers to the farmers during Rabi 2022-23 at the subsidised prices of fertilisers and support the agriculture sector. The volatility in the international prices of fertilisers and raw materials has been primarily absorbed by the government, the release said.
It said the government is making available fertilisers - urea and 25 grades for P&K fertilizers to farmers at subsidised prices through fertiliser manufacturers/importers.
The subsidy on P&K fertilisers is being governed by the NBS Scheme.
"In accordance with its farmer-friendly approach, the government is committed to ensure the availability of P&K fertilisers to the farmers at affordable prices," the release said.
It said that in view of steep increase in the international prices of fertilizers and inputs -- urea, DAP, MOP and sulphur -- the government has decided to absorb the increased prices by increasing subsidy on P&K fertilisers including DAP.
The subsidy would be released to fertiliser companies as per approved rates so that they can make fertilisers available to farmers at an affordable price, the release said. (ANI)