New Delhi : The union Cabinet has approved nutrient-based subsidy rates for Phosphatic and Potash fertilizers for Rabi season 2022-23 from October 1, to March 31, next year. In this, a subsidy of ₹51,875 crore will be sanctioned.
The Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the proposal of the Department of Fertilizers for per kg rates of Nutrient Based Subsidies (NBS) linked to various nutrients. The subsidy rate for Phosphatic and Potash (P&K) fertilizers for the Rabi season has been fixed at ₹98.02 and Phosphorous (P) at ₹66.93.
The subsidy approved by the cabinet for NBS Rabi-2022 will be ₹51,875 crore which includes support for Indigenous Fertilizers (SSP) through freight subsidy.
This will make all P&K fertilizers easily available to the farmers at subsidized and affordable prices of fertilizers during Rabi 2022-23 and will help the agriculture sector. This will allow the government to bear the volatility in international prices of fertilizers and raw materials.