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“Subsidy is predicted to be decrease this yr due to fall in international costs. We’ve not elevated retail costs to scale back subsidy,” he stated, including that subsidy invoice is estimated round ₹1.7-1.8 lakh crore.
Final yr authorities’s subsidy burden rose as international costs skyrocketed as a result of Russia-Ukraine struggle.
Urea imports are estimated to be 40-50 lakh tonnes this fiscal, decrease than final yr’s 75 lakh tonnes as home manufacturing was increased. Using nano liquid urea additionally helped, the minister stated.
At current India has shares of 70 lakh tonnes of urea, 20 lakh tonnes of DAP, 10 lakh tonnes of Muriate of Phosphate, 40 lakh tonnes of NPK and 20 lakh tonnes of Single Tremendous Phosphate.
The geopolitical rigidity across the Bab-el-Mandeb Strait, an important sea route connecting the Crimson Sea and the Mediterranean Sea to the Indian Ocean has escalated as a result of assaults by Houthi militants, forcing ship to take an extended route round Cape of Good Hope pushing up fertilizer costs and delivery time.The minister stated 4 urea vegetation have been revived and the fifth one will quickly begin manufacturing.
