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- Considering the huge increase in the prices of fertilizers in global market, the Centre has “doubled” the fertilizer subsidy for this rabi season. A meeting of the Union Cabinet here on Wednesday approved a subsidy of ₹51,875 crore for nitrogen, phosphorus and potash (NPK) and sulphur for phosphatic and potassium fertilizers for the ongoing rabi season.
- From the budget estimate of ₹21,000 crore of nutrient-based subsidy, the amount has been more than doubled, said Union Minister for Fertilizers and Chemicals Mansukh Mandaviya. Briefing media persons after the meeting, he said the Centre had revised the subsidy keeping the increasing market prices in mind.
‘Highest so far’
- He said the total fertilizer subsidy for the rabi season, including ₹80,000 crore for urea, would be ₹1,38,875 crore and for both the rabi and kharif, the subsidy amount would be ₹2.25 lakh crore.
- This is the highest subsidy so far. Last year it was ₹1.65 lakh crore,” Mr. Mandaviya said and added that as commercial prices had doubled due to the Ukraine-Russia conflict and the logistics issues due to pandemic the Centre decided to double the subsidy component too.
- “Increased prices would have burdened the farmers. We have ensured that there will not be any increase in the fertilizer prices in the next six months,” he said.
- Mandaviya said a bag of diammonium phosphate cost ₹1,350 and it would have cost ₹2,650 without subsidy.
- On urea, he said, the subsidy was around ₹2,400 a bag. It was being sold for about ₹266 instead of the market price of ₹2,700.
- He said the Centre had taken measures to increase production of urea in India. While the requirement was 350 lakh tonnes, the production in the country was 250 lakh tonnes.
- He said four new plants were coming up and nano urea would also replace the use of urea slowly. Mr. Mandaviya said the country had enough stock of fertilizers for this season and reports about farmers queueing up to buy fertilizers were blown out of proportion.
- The Centre said the move would help the farmers. “This will enable smooth availability of all P&K fertilizers to the farmers during rabi 2022-23 at affordable prices and support the sector.
- The volatility in the international prices of fertilizers and raw materials has been primarily absorbed by the Centre,” a release said.
- Curious collage shows rhino horns have been shrinkingScientists analysed five centuries of artwork and photographs to assess changes in horn length and human attitudes towards the animal
SOURCE: THE HINDU, THE ECONOMIC TIMES, PIB
