New Delhi: The Union Cabinet on Wednesday approved nutrient based subsidy (NBS) rates for Kharif Season, 2023 for phosphatic and potassic (P&K) fertilizers.
An official statement said that the government will be providing a subsidy of Rs 38,000 crores for the Kharif 2023 season to fulfil its commitment of providing quality and subsidized P&K fertilizers to farmers.
“The Cabinet decision will have the two-fold benefit of ensuring availability of DAP and other P&K fertilizers to farmers at subsidized, affordable and reasonable prices during Kharif season and will also ensure rationalization of subsidy on P&K fertilizers,” the release said.
The subsidy on P&K fertilizers is governed by NBS Scheme since April 2010.
“Government has approved revision in the NBS rates for Rabi 2022-2023 effective from 01.01.23 to 31.03.2023 and approved the NBS rates for Kharif, 2023 (from 01.04.2023 to 30.09.2023) to make available 25 grades of Phosphatic and Potassic (P&K) fertilizers to farmers at subsidized prices,” the official release said.
UNI
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