The Centre on Wednesday approved a subsidy of ₹22, 303 crore for Phosphatic and Potassic (P&K) fertilisers, Union minister Anurag Thakur announced.
“Subsidy for the Rabi season from 1st October 2023 till 31st March 2024 will be like this. For the nitrogen, it will be ₹47.2 per Kg, phosphorus will be ₹20.82 per Kg, potash subsidy will be ₹2.38 per Kg. And the Sulphur subsidy will be ₹1.89 per Kg”, the minister said.
“The subsidy will continue because when international prices rise, the government does not want it to impact our farmers in the country… Subsidy on DAP will continue for ₹4500 per ton. As far as the DAP will be available for ₹1350 per bag as per the old rate. The NPK will be available at the price of ₹1470 per bag”, Thakur added.
In a statement, the government said it is making available 25 grades of these P&K fertilisers to the farmers at subsidized prices through fertilizer manufacturers/importers.
“The subsidy on P&K fertilizers is governed by NBS Scheme w.e.f 01.04.2010. In accordance with its farmer friendly approach, the Government is committed to ensure the availability of P&K fertilizers to the farmers at affordable prices”, it added.
“In view of the recent trends in the international prices of fertilizers & inputs i.e. Urea, DAP, MOP and Sulphur, Government has decided to approve the NBS rates for Rabi 2023-24 effective from 01.10.23 to 31.03.24 on Phosphatic and Potassic (P&K) fertilizers. The subsidy would be provided to the fertilizer companies as per approved and notified rates so that fertilizers are made available to farmers at affordable prices”, the government added.