The Union cabinet on Wednesday cleared a ₹22,303-crore subsidy for phosphatic and potassic fertilizers for the rabi season that runs till the end of March. While the amount is sharply lower than the previous year, the government assured that farmers will remain protected since international fertilizer prices have fallen, reducing the need for hefty support.
The cabinet also approved fresh rates under the nutrient-based subsidy (NBS) scheme for NPK (nitrogen, phosphorus, potassium) fertilizers. The NBS scheme sets fixed subsidies for fertilizers other than urea, depending on their nutritional content. The rates are revisited annually. In last year’s rabi season, the cabinet approved total NBS subsidies of ₹51,875 crore, including support for indigenous fertilizers through freight subsidy.
“The subsidy will continue because the government does not want any increase in the international fertilizer prices to affect farmers of the country. For the last two years, the government has continued to provide more subsidy to the farmers," Anurag Thakur, minister of information and broadcasting, said after a cabinet meeting.
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