look news india
Russia-Ukraine Crisis: The ongoing conflict between Russia and Ukraine has led to a sharp rise in global fertilizer prices, which has significantly impacted India's supply chain due to its heavy dependence on imports. Russia, a major exporter of nitrogen, potash and phosphorus fertilizers, has experienced supply disruptions, increasing costs for importing countries like India
In response to this crisis, the Modi government has taken steps to protect Indian farmers from the impact of these price hikes. The government allocated Rs 2.25 lakh crore for fertilizer subsidy in 2022-23 to protect farmers from rising prices. This record-high allocation ensured that farmers did not have to bear the brunt of international price increases.