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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

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