- The Central government approved Nutrient Based Subsidy for Nitrogen(N), Phosphorus(P), Potash(K) and Sulphur(S) for the 2023 kharif Season
- On the proposal of the Department of Fertilisers, the central government has revision of the NBS rates for Kharif Season (April-September) 2023 and for Rabi Season (January-March, 2023).
- Rs 70,000 crore will be spent for urea subsidy during kharif season 2023 and Rs 38,000 crore for DAP subsidy, taking the total fertilizer subsidy to Rs 1.08 lakh crore during the kharif season.
Currently, the price of urea is ₹276 per bag and the price of DAP is ₹1,350 per bag.
For Kharif Season rate of subsidy has been fixed at:
- Rs 76 per kg for Nitrogen (N)
- Rs 41 per kg for Phosphorus(P)
- Rs 15 per kg for Potash(K)
- Rs 2.8 per kg for Sulphur (S)
This decision by the Cabinet brings two significant benefits:
- It ensures the availability of diammonium phosphate DAP and other P&K fertilizers to farmers at subsidized, affordable, and reasonable prices during the Kharif season.
- It rationalizes the subsidy on P&K fertilizers, ensuring effective and efficient utilization of government resources.
SOURCE: THE HINDU, THE ECONOMIC TIMES, PIB