Cabinet approves Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilizers for the year 2019-20
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi has approved the proposal of the Department of Fertilizers for fixation of Nutrient Based Subsidy Rates for P&K Fertilizers for the year 2019-20. The approved rates for NBS effective from the date of notification will be as under:
The per kg. subsidy rates prior to notification will remain same as that of year 2018-19.
Expenditure:
The expected expenditure for release of subsidy on P&K Fertilizers during 2019-20 will be Rs. 22875.50crore.
Benefits:
This will enable the manufacturers and importers to formalize supply contracts for fertilizers and fertilizer inputs and make fertilizers available to the farmers in the year 2019-20.
Background:
Government is making available fertilizers, Urea and 21 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers. The subsidy on P&K fertilizers is being governed by NBS Scheme w.e.f 01.04.2010. In accordance to its farmer friendly approach, the Govt is committed to ensure the availability of P&K fertilizers to the farmers on affordable price.
Per Kg Subsidy rates (in Rs.)
| |||
N (Nitrogen)
|
P(Phosphorus)
|
K(Potash)
|
S(Sulphur)
|
18.901
|
15.216
|
11.124
|
3.562
|
The per kg. subsidy rates prior to notification will remain same as that of year 2018-19.
Expenditure:
The expected expenditure for release of subsidy on P&K Fertilizers during 2019-20 will be Rs. 22875.50crore.
Benefits:
This will enable the manufacturers and importers to formalize supply contracts for fertilizers and fertilizer inputs and make fertilizers available to the farmers in the year 2019-20.
Background:
Government is making available fertilizers, Urea and 21 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers. The subsidy on P&K fertilizers is being governed by NBS Scheme w.e.f 01.04.2010. In accordance to its farmer friendly approach, the Govt is committed to ensure the availability of P&K fertilizers to the farmers on affordable price.
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