The Union Cupboard has authorized nutrient-based subsidy (NBS) charges for Phosphatic and Potassic fertilisers for the Kharif season (from April 1, 2022, to September 30, 2022).
Briefing media in regards to the Cupboard resolution, Data and Broadcasting Minister Anurag Thakur mentioned the Cupboard has authorized a subsidy of Rs 60,939 crore on P&Okay fertilisers for the Kharif season towards the subsidy of round Rs 57,150 crore on these vitamins for the whole final fiscal.
He mentioned the subsidy on DAP (di-ammonium phosphate) has been elevated to Rs 2,501 per bag and the farmers will proceed to get the DAP at Rs 1,350 per bag.
Thakur mentioned the subsidy on DAP has been elevated to 2,501 per bag from 512 per bag in 2020-21.
The minister highlighted that whilst the costs of fertilisers have elevated sharply within the international markets, the federal government has ensured that the burden has not elevated for the farmers.
The Nutrient Primarily based Subsidy (NBS) Scheme is being carried out since April 2010.
Below the NBS Coverage, a set price of subsidy (in Rs per Kg foundation) is introduced on vitamins specifically Nitrogen (N), Phosphate (P), Potash (Okay) and Sulphur (S) by the federal government on annual foundation.
The per Kg subsidy charges on the vitamins N, P, Okay, and S are transformed into per tonne subsidy on the varied P&Okay fertilisers lined beneath the NBS Coverage.
The federal government is making out there fertilisers, specifically urea and 24 grades of P&Okay fertilisers to farmers at subsidised costs by means of producers/importers.
Within the case of urea, the Centre fixes the utmost retail costs and reimburses the distinction between the MRP and manufacturing value in type of a subsidy.