THE CENTRE on Tuesday authorized the charges of Nutrient Based mostly Subsidy (NBS) for phosphorous and potash fertilisers for the interval October 1, 2021 to March 31, 2022.
A choice to this impact was taken at a gathering of the Cupboard Committee on Financial Affairs, chaired by Prime Minister Narendra Modi. The monetary implication of the choice will contain Rs 28,655 crore, in response to an official assertion.
The speed of subsidy was fastened at Rs 18.789 per kg for N (nitrogen), Rs 45.323 per kg for P (phosphorus), Rs 10.116 per kg for Okay (potash) and Rs 2.374 per kg for S (sulphur).
On June 16, the federal government had authorized the NBS charges until the present kharif season. Now, it has prolonged it for the rabi season as properly. The choice comes at a time when the sowing of rabi crops is about to select up.
“This may allow easy availability of all P&Okay fertilisers to the farmers throughout rabi season 2021-22 on the subsidised/inexpensive costs of fertilisers and assist the agricultural sector by persevering with the current subsidy ranges and giving particular packages of further subsidy for DAP and three largely consumed NPK grades,” the assertion mentioned.
“It’ll give Rs 438 per bag profit on Di-Ammonium Phosphate (DAP) and Rs 100 per bag profit every on NPK 10-26-26, NPK 20-20-0-13 & NPK 12-32-16 in order to keep up costs of those fertilisers inexpensive to the farmers,” it mentioned.
Whereas the entire subsidy requirement can be Rs 35,115 crore, the entire quantity of rollover can be Rs 28,602 crore.
“Internet subsidy required for Rabi 2021-22 after deducting financial savings can be Rs 28,655 crore,” the assertion mentioned.
“The subsidy on P&Okay fertilizers can be offered based mostly on the NBS charges authorized by the CCEA to make sure easy availability of those fertilizers to the farmers at inexpensive costs,” it mentioned.