After price rise, govt raises nutrient-based subsidy on DAP, Potash

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Ziraat Times
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Srinagar: The Union Cabinet approved the fixation of ‘Nutrient Based Subsidy Rates’ for Phosphatic and Potassic (P&K) Fertilizers for the year 2021-22, Chemicals and Fertilizers Minister Mansukh Mandaviya, announced at a press conference today. Urea prices do not fall within this subsidy scheme.

The approved rates for NBS effective from the date of notification shall be as under:

Per Kg Subsidy rates (in Rs.)

 
N (Nitrogen)

 

 P(Phosphorus)

 

 K(Potash)

 

 S(Sulphur)

 
18.789

 

 45.323

 

 10.116

 

 2.374

 

 

“The subsidy is released to fertilizer companies as per NBS rates so that they can make available fertilizers to farmers at affordable price. In last few months, the international prices of raw materials of DAP and other P&K fertilizers have increased sharply. Prices of finished DAP etc. in international market have also increased. Despite this sharp increase, DAP prices in India were initially not increased by the companies however, some companies increased the DAP price in the beginning of this financial year. Government is fully sensitive to the concerns of farmers also and is already taking steps to tackle the situation so that farming community can be saved from the effects of this price rise of P&K fertilizers (including DAP),” said Cabinet Committee on Economic Affairs in a statement.

Government will spend additional Rs 14,000 crore on increase subsidy support for DAP fertiliser.

“Considering this crisis of pricing of DAP in India as an extraordinary situation & distress for the farmers, Gol has increased the subsidy rates under NBS Scheme as a special package for farmers in such a way that MRP of DAP (including other P&K fertilisers) can be kept at the last year’s level till the present Kharif season. This has been done as one-time measure as COVID -19 package to reduce the hardships of farmers. As anticipated that international prices may come down in few months, Gol may review the situation accordingly and decide regarding subsidy rates at that point of time. The estimated additional subsidy burden for such an arrangement will be around Rs 14,775 crore,” added CCEA.

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