New Delhi: The Centre will offer 140 per cent increase in subsidy on fertiliser to offset the price rise in international market, Prime Minister Narendra Modi’s office said today.
The government will spend an additional ₹Rs 14775 crore towards this subsidy. The government will spend an additional ₹ 14,775 crore towards this subsidy, pushing the total to around ₹ 95,000 crore.
“Prime Minster Narendra Modi has said farmers should get fertilisers at old rates despite the international price rise… The welfare of farmers is at the core of government’s efforts,” the PM’s office said in a statement.
The government said the farmers will get a subsidy of ₹ 1,200 per bag of fertiliser instead of the current ₹ 500. With the hike in global process, the cost of a bag of DAP or Di-Ammonium Phosphate, is working out at ₹ 2,400. But the farmers will continue to get a bag of fertiliser at last year’s prices, which is ₹ 1,200.
The Prime Minister’s Office said it was the second major decision in farmers’ interest, after the direct transfer of ₹ 20,667 crore in their account under PM-KISAN last month, on the day of Akshay Tritiya.
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