The Government on 2nd November 2022 approved subsidy rates for Phosphatic (P) and Potassic (K) fertilizers for Rabi season 2022-23 from 1st October 2022 to 31st March 2023.
Union Cabinet has approved the proposal of the Department of Fertilizers for per Kilogram rates of Nutrient Based Subsidy (NBS) for various nutrients which include Nitrogen (N), Phosphorus (P), Potash (K) and Sulphur (S).
Revised rates of P&K fertilizers
The per kilogram rate of Nitrogen has been fixed at Rs. 98.02, Phosphorus at Rs. 66.93, Potash at Rs. 23.65, Sulphur at Rs. 6.12. The Cabinet Committee on Economic Affairs allotted Rs 51,875 crore as the subsidy rate for the NBS Rabi-2022 (from 01.10.2022 to 31.03.2023), this includes support for indigenous fertilizer (SSP) through freight subsidy.
This will enable smooth availability of all P&K fertilizers to the farmers during Rabi 2022-23 at the subsidized/affordable prices of fertilizers and support the agriculture sector. The volatility in the international prices of fertilizers and raw materials has been primarily absorbed by the Union Government.
The Government is providing fertilizers, namely Urea and 25 grades for P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers. The subsidy on P&K fertilizers is being governed by the NBS Scheme which was first implemented in April 2010.
Fertilizers affordable to Farmers
In accordance with its farmer friendly initiatives and policies, the Union Government aims to ensure the availability of P&K fertilizers to the farmers at affordable prices. In view of steep increase in the international prices of fertilizers & inputs i.e. Urea, DAP, MOP and Sulphur, Government has decided to absorb the increased prices by increasing subsidies on P&K fertilizers including DAP. The subsidy will be paid to fertilizer companies as per approved rates so that they can make fertilizers available to farmers at an affordable price.
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