Cabinet okays ~28,655-crore subsidy on P&K fertilisers

The government on Tuesday announced a net subsidy of ~28,655 crore on phosphatic and potassic (P&K) fertilisers to ensure that farmers get nutrients at affordable prices during the rabi sowing season. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the Nutrient Based Subsidy (NBS) rates for P&K fertilisers for October 2021 to March 2022 period. Rabi (winter-sown) season starts in October. Under the NBS, the per kg subsidy rates of N (nitrogen) has been fixed at ~18.789, P (phosphorus) ~45.323, K (potash) ~10.116 and S (sulphur) ~2.374, according to an official statement. The government said the "total amount of rollover will be ~28,602 crore". It has also provided a special one-time package for additional subsidy on DAP at the tentative additional cost of ~5,716 crore.