Cabinet approves new subsidy rates for fertilizers
Pic Credit: IIFL/Representational Image
New Delhi: The Cabinet Committee on Economic Affairs on Wednesday approved subsidy rates for P&K (phosphatic and potassic) fertilizers for the year 2019-20, an official release said.
The subsidy rates for nitrogen will be Rs 18.90 per kg, Rs 15.21 per kg for phosphorus, Rs 11.12 per kg for potash and Rs 3.56 per kg for sulphur.
The expected expenditure for release of subsidy on P&K fertilizers during 2019-20 will be Rs 22,875.50 crore.
This will enable the manufacturers and importers to formalize supply contracts for fertilizers and fertilizer inputs and make fertilizers available to the farmers, the release said.