Sign In
Learn bits
Economy
Pradeep Kumar

17/06/21 09:00 AM IST

Subsidy for Fertilisers

In news

Cabinet approves Nutrient Based Subsidy (NBS) rates for Phosphatic & Potassic (P&K) Fertilisers for the year 2021-22

Highlights
  • The government of India is making available fertilizers, namely Urea and 22 grades of P&K fertilizers (including DAP) to farmers at subsidized prices through fertilizer manufacturers/ importers.
  • The subsidy on P&K fertilizers is being governed by the NBS Scheme w.e.f. 01.04.2010.
  • In accordance with its farmer-friendly approach, the Government is committed to ensuring the availability of P&K fertilizers to the farmers at affordable prices. 
  • On the pricing front of DAP, Government has already asked all the fertilizer companies to sell their old stocks of DAP, etc. at the old prices only. 
  • In a similar manner, considering this crisis of pricing of DAP in India as an extraordinary situation & distress for the farmers, Gol has increased the subsidy rates under NBS Scheme as a special package for farmers in such a way that MRP of DAP (including other P&K fertilisers) can be kept at the last year's level till the present Kharif season.
Way forward
  • This has been done as a one-time measure as COVID -19 package to reduce the hardships of farmers.
  • As anticipated that international prices may come down in few months, Gol may review the situation accordingly and decide regarding subsidy rates at that point of time.
  • The estimated additional subsidy burden for such an arrangement will be around Rs 14,775 crore.
Source: PIB

More Related Current Affairs View All

19 Nov

Grievance Redressal Assessment And Index (GRAI) 2023 Launched

'Union Minister of State (Independent Charge) Science & Technology; Dr Jitendra Singh has launched Grievance Redressal Assessment and Index (GRAI) 2023.' Grievance Redress

Read More

19 Nov

Smog disrupts flights

'With the national capital enveloped in a blanket of noxious smog, flight operations at the Indira Gandhi International Airport in Delhi have been impacted.' At least 15 fligh

Read More

19 Nov

India’s road to net-zero

'Every year, climate action draws significant attention in the months leading up to the United Nations’ annual meeting of the Conference of the Parties (COPs).' An econo

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps