phosphatic fertilisers: Govt giving further fertiliser subsidy of Rs 1.10 lakh crore this fiscal: FM Nirmala Sitharaman

Amid a pointy enhance in world costs of fertilisers, Finance Minister Nirmala Sitharaman on Saturday mentioned the federal government will present an extra fertiliser subsidy of Rs 1.10 lakh crore to additional cushion farmers from the worth rise.

With this, the federal government’s complete fertiliser subsidy is more likely to contact a document Rs 2.15 lakh crore within the present 2022-23 fiscal.

“Regardless of rising fertiliser costs globally, we now have protected our farmers from such worth hikes. Along with the fertiliser subsidy of Rs 1.05 lakh crore within the finances, an extra quantity of Rs 1.10 lakh crore is being supplied to additional cushion our farmers,” Sitharaman tweeted.

The fertiliser subsidy invoice was estimated at Rs 1.05 lakh crore within the 2022-23 Price range. It stood at Rs 1,62,132 crore in 2021-22.

Chemical compounds and Fertilizers Minister Mansukh Mandaviya had not too long ago mentioned the full fertiliser subsidy invoice may very well be between Rs 2-2.5 lakh crore within the present fiscal as a result of a pointy rise in world costs.

India imports urea, potassic and phosphatic fertilisers, whereas world fertiliser costs have risen as a result of Russia-Ukraine conflict.
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