- RED SEA CRISIS MAY HAVE INFLATED BILL
FREIGHT INCREASES CAUSED by the Red Sea disruptions may have inflated fertiliser subsidy bill for the current fiscal by a "few thousand crores", Union minister for chemicals, fertilisers Mansukh Mandaviya said on Wednesday.
However, the subsidy expenditure on soil nutrients in the current fiscal would still be around ₹1.8 trillion, as against the total outlay of ₹1.88 trillion.
The Budget Estimate for fertiliser subsidy in the current fiscal year is ₹1.75 trillion, but an additional ₹13,351 crore was allocated via supplementary demand for grants in the winter session of Parliament.
The decline in global prices of social nutrients and lower imports of urea have enabled the government to curb the subsidy."Subsidy is expected to be lower this year because of the fall in global prices. We have not increased retail prices to reduce subsidies," the minister said.
Bu hikaye Financial Express Mumbai dergisinin January 18, 2024 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin January 18, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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