Rs 24K cr for fertiliser subsidy

The Cabinet on Wednesday approved a marginal hike of 9.7 per cent over last year, of nutrient-based subsidy (NBS) rates for winter crops (Rabi season 2024-25) at Rs 24,475.53 crore on phosphatic and potassic (P&K) fertilisers.

Last year, the Cabinet had cleared NBS rates for Rabi season 2023-24 at Rs 22,303 crore for P&K fertilisers.

This will ensure availability of fertilisers to farmers at subsidised prices, I&B Minister Ashwini Vaishnaw told reporters after the Cabinet meeting.

He said the decision will help insulate farmers from price fluctuations owing to supply chain disruptions due to Russia-Ukraine war and the Middle-East crisis. The subsidy on P&K fertilisers will be provided based on approved rates for Rabi 2024, sources said.