Government`s fertiliser subsidy bill likely to decline 30-34% to Rs 1.7-1.8 lakh crore this fiscal: Mansukh Mandaviya
In line with fall in global prices and lower imports of urea, chemicals and fertilizers minister Mansukh Mandaviya has said that the government's fertiliser subsidy bill is likely to decline 30-34 per cent to Rs 1.7-1.8 lakh crore this fiscal. Talking about any adverse impact on imports due to problems in Red sea, the minister asserted ‘there is no shortage of fertilisers in the country’.
Mandaviya highlighted that the urea imports are estimated at 40-50 lakh tonnes this fiscal, lower from around 75 lakh tonnes imported in the previous year, helped by higher domestic production and increased use of nano liquid urea. He added ‘Ministry of External Affairs is making necessary interventions and our Navy is giving protection to Indian cargo vessels’.
At present, the country has stocks of 70 lakh tonnes of urea, 20 lakh tonnes of DAP, 10 lakh tonnes of MoP (Muriate of Potash), 40 lakh tonnes of NPK and 20 lakh tonnes of SSP (single super phosphate). Mandaviya highlighted that the government has taken several steps since 2014 to boost domestic production of fertilisers and reduce import dependence.
