Cabinet nod for fixation of subsidy rates for Phosphatic and Potassic fertilizers

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval for fixation of Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic Fertilizers for the year 2020-21, said Union Minister Prakash Javadekar on Wednesday.

The approved rates for NBS are - 18.789 for N, 14.888 for P, 10.116 for K and 2.374 for S.

CCEA has also approved the inclusion of a complex fertilizer namely Ammonium Phosphate (NP 14:28:0:0) under the NBS scheme. The expected expenditure for release of subsidy on Phosphatic and Potassic (P&K) Fertilizers during 2020-21 will be Rs 22,186.55 crore.

The subsidy will be provided on the subsidy rates approved by the CCEA to the fertilizer compes.

The Central government is making available fertilizers, namely Urea and 21 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers and importers. The subsidy on P&K fertilizers is being governed by NBS scheme.

( With inputs from ANI )