Government Approves Nutrient-Based Subsidy On Fertilisers With Rs 24,475-Crore Allocation
The subsidised rates will be applicable from Oct. 1 to March 31, 2025.
The Union Cabinet has approved an allocation of Rs 24,475 crore for nutrient-based subsidy on fertilisers, like phosphatic and potassic, for rabi season. At a briefing on Wednesday, Information and Broadcasting Minister Ashwini Vaishnaw announced that the subsidised rates will be applicable from Oct. 1 to March 31, 2025.
The subsidy aims to ensure farmers can access fertilisers at affordable and reasonable prices. Rationalisation of subsidies on P&K fertilisers in view of recent trends in the international prices of fertilisers and inputs is another benefit, the government said in a press release.
The government subsidised the fertiliser price so that farmers do not bear the burden of market movements, the Union Minister said.
The government is making 28 grades of P&K fertilisers available to farmers at subsidised prices through fertiliser manufacturers/importers. The subsidy will be provided to fertiliser companies as per approved and notified rates, the release said.
