Centre approves Rs 60,939 crores subsidy for fertilisers

New Delhi: The Union government on Wednesday approved a subsidy of Rs 60,939.23 crore for phosphatic and potassic fertilisers, including DAP, for the first six months of this fiscal as part of efforts to provide soil nutrients to farmers at an affordable price.

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal for Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilisers for Kharif Season, which is from April 1 to September 30, according to an official statement.

"Subsidy approved by the Cabinet for the NBS Kharif-2022 will be Rs 60,939.23 crore, including support for indigenous fertiliser (SSP) through freight subsidy and additional support for indigenous manufacturing and imports of DAP," it added.