Government provides Rs 1.71 trillion as fertilisers subsidy in April- January: Bhagwanth Khuba
Minister of State for Chemicals and Fertilisers Bhagwanth Khuba has said that the government has provided nearly Rs 1.71 trillion as fertilisers subsidy during April-January period of FY24. He said the government provides subsidy on various fertilizers to ensure adequate availability of fertilizers at affordable prices to farmers.
The minister noted that the government has implemented Nutrient Based Subsidy (NBS) policy with effect from April 1, 2010, for Phosphatic and Potassic (P&K) Fertilizers. Under the policy, a fixed amount of subsidy, decided on annual/semi-annual basis, is provided on notified P&K fertilizers depending on their nutrient content. Besides, maximum retail price is fixed by fertilizer companies as per market dynamics at reasonable level which is monitored by the government. Accordingly, any farmer of India including poor and marginal farmers who buy these fertilizers gets benefits of subsidy. In the case of urea, he said urea is provided to the farmers at a statutorily notified. The price of a 45 kg bag of urea is Rs 242 per bag (exclusive of charges towards neem coating and taxes as applicable).
He further said that the expenditure incurred on subsidy on fertilizers for the last five years stood at Rs 73,435.21 crore in 2018-19, Rs 83,466.51 crore in 2019-20, Rs 1,31,229.50 crore in 2020-21, Rs 1,57,640.63 crore in 2021-22 and Rs 2,54,798.88 crore during 2022-23 fiscal year.
