look news india
Amidst the ongoing farmer protests on the Punjab-Haryana border, the government has made an important announcement in favor of the farmers just before the elections. The Cabinet has approved a huge budget of Rs 24,420 crore to provide adequate subsidy on fertilizers during the sowing of Kharif crop.
The Cabinet meeting led by Prime Minister Narendra Modi on Thursday decided to provide subsidy of Rs 24,420 crore for Phosphatic and Potash (P&K) fertilizers for the upcoming Kharif season. The government said key fertilizer diammonium phosphate (DAP) will be available to farmers at a concessional rate of Rs 1,350 per quintal.
Fertilizer prices will remain stable
The government clarified that the retail prices of di-ammonium phosphate (DAP) and potash (P&K) fertilizers will remain stable. Subsidy on P&K fertilizers will be applicable from April 1 to September 30. The proposal to fix rates for Nitrogen (N), Phosphorus (P), Potash (K), and Sulfur (S) under the Nutrient-Based Subsidy (NBS) Scheme has been approved by the Department of Fertilizers.
The government assured that the subsidy rates for Nitrogen (N), Phosphorus (P), Potash (K), and Sulfur (S) will remain unchanged for the upcoming Kharif season. Subsidy on phosphatic fertilizers for the Kharif season of 2024 has increased from Rs 20.82 per kg during the Rabi season of 2023 to Rs 28.72 per kg.
Moreover, apart from the fertilizer subsidy, di-ammonium phosphate (DAP) is being sold at Rs 1,350 per bag (50 kg). The government is committed to ensuring stable prices for these fertilizers during the upcoming Kharif season, which will benefit farmers across the country.