ATM News Network: The Union Cabinet chaired by Prime Minister Narendra Modi has approved various rates of Nitrogen (N), Phosphorus (P), Potash (K) and Sulfur (S) for Rabi season, 2022-23 (for the period from 01.01.2023 to 31.03.2023). Approved the Fertilizer Department's proposal to revise the Nutrient Based Subsidy (NBS) rates of fertilizers.
It also approved nutrient based subsidy rates for phosphate and potash (P&K) fertilizers for Kharif season 2023 that is from 1.4.2023 to 30.09.2023.
Subsidy on phosphate and potash fertilizers is governed by Nutrient Based Subsidy Scheme from 01-04-2010. The government has approved nutrient based subsidy rates to provide Urea 25 grade fertilizers for phosphate and potash fertilizers at subsidized cost to the farmers.
To fulfil its commitment to provide good quality phosphate and potash fertilizers to farmers at subsidized rates, the government will provide a subsidy of Rs 38,000 crore for Kharif season 2023.
This decision of the Union Cabinet will have a double benefit, it will ensure availability of DAP and other phosphate and potash containing fertilizers at subsidized, affordable and reasonable prices to the farmers during Kharif season and will also facilitate the rationalization of subsidy on phosphate and potash containing fertilizers.