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

05 May

Key objectives of caste count

'The Union Cabinet has decided that the next Census will include questions on caste to its enumeration of India’s population, for the first time in almost a century. ' T

Read More

05 May

2 new genome-edited rice varieties

'Agriculture Minister Shivraj Singh Chouhan recently released two genome-edited varieties of rice, the first achievement of its kind in the country.' These two varieties, which

Read More

05 Mar

First-ever comprehensive survey of India’s river dolphins

'Prime Minister Narendra Modi released the results of the first-ever comprehensive population estimation of riverine dolphins – Gangetic and Indus dolphins – done in In

Read More

India’s First Ai-Driven Magazine Generator

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