Cabinet clears Rs.41K-crore for nutrient-based fertiliser subsidy
New Delhi, April 9 -- The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday cleared Rs.41,534 crore towards nutrient-based fertiliser subsidy for the summer-sowing season, raising it by Rs.4,317 crore, a nearly 12% jump from the previous cropping cycle, to make up for higher costs and cushion farmers amid supply disruptions due to the West Asian conflict.
The higher subsidy, which covers mixed crop chemicals, is aimed at keeping the price of 50-kg packages of diammonium phosphate steady at Rs.1,350 despite higher import prices. "The West Asian conflict has had an impact on fertilisers. There's no problem of availability in India. Some people have started hoarding, which is not good," information and broadcasting minister Ashwini Vaishnaw said, briefing reporters.
The nutrient-based subsidy regime offers fertilisers at lower-than-market price to farmers based on their phosphatic and potassic content, which is aimed at discouraging overuse.
Food security in the world's most-populous country is closely linked to the adequate availability and affordability of key fertilisers, as farmers prepare for the summer-planting season....
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