Cabinet approves ₹28,655 crore fertilizer subsidy for rabi season
The Hindu
It will offset hike in global rates of DAP, nitrogen, phosphate and potassic fertilizers
The Centre has approved an additional fertilizer subsidy of ₹28,655 crore for the rabi or winter planting season, which runs from October 2021 to March 2022. The Cabinet Committee on Economic Affairs approved the new nutrient-based subsidy rates for phosphatic and potassic fertilisers on Tuesday.
Unlike urea where the Centre sets a fixed maximum retail price, non-urea fertilizer prices are decontrolled with the Government fixing nutrient-based subsidy rates instead. The subsidy is paid to fertilizer companies as compensation for selling their products to farmers below market prices.
Thus, the price a farmer pays for a 50-kg bag of di-ammonium phosphate (DAP), the most popular fertilizer after urea, will continue to remain at ₹1,200. The increased subsidy will offset the hike in global rates of DAP, nitrogen, phosphate and potassic fertilizers.
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