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India


Cabinet approves Nutrient Based Subsidy on P&K Fertilizers

Cabinet approves Nutrient Based Subsidy on P&K Fertilizers

New Delhi, Feb 29 (UNI) With a view to make available fertilizers to farmers at subsidized, affordable and reasonable prices, the Cabinet on Thursday approved the proposal of the Department of Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for KHARIF Season, 2024 on Phosphatic and Potassic (P&K) fertilizers and inclusion of 3 new fertilizer grades under NBS scheme.
The tentative budgetary requirement for Kharif season 2024 would be approximately Rs.24,420 crore, an official release said after the Union Cabinet meeting chaired by the Prime Minister Narendra Modi.
Today’s decision will make availability of fertilizers to farmers at subsidized, affordable and reasonable prices will be ensured, rationalization of subsidy on P&K fertilizers in view of recent trends in the international prices of fertilizers and inputs.

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