The subsidy approved is Rs. 51,875 crore
New Delhi: The Union Cabinet today approved the proposal of the Department of Fertilizers for per kilogram rates of Nutrient Based Subsidy (NBS) for various nutrients that is Nitrogen (N), Phosphorus (P), Potash (K) and Sulphur (S) for Phosphatic and Potassic (P&K) fertilizers for Rabi Season – 2022-23 from 01.10.2022 to 31.03.2023.
The subsidised rates are as below:
The subsidy approved by Cabinet for the NBS Rabi-2022 (from 01.10.2022 to 31.03.2023) will be Rs. 51,875 crores including support for indigenous fertilizer (SSP) through freight subsidy.
The Union Ministry of Chemicals and Fertilizers stated that the decision will enable the smooth availability of all Phosphatic and Potassic fertilizers to the farmers during Rabi 2022-23 at the subsidized / affordable prices of fertilizers and support the agriculture sector. “The volatility in the international prices of fertilizers and raw materials has been primarily absorbed by the Union Government,” it stated.
It may be mentioned that the government is making available fertilizers, namely Urea and 25 grades for P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers. The subsidy on P&K fertilizers is being governed by NBS Scheme with effect from April 1, 2010. In view of a steep increase in the international prices of fertilizers and inputs i.e. Urea, DAP, MOP and Sulphur, the Government decided to absorb the increased prices by increasing subsidies on P&K fertilizers including DAP. The subsidy would be released to fertilizer companies as per approved rates so that they can make fertilizers available to farmers at an affordable price.
– global bihari bureau
