New Delhi: The Union Cabinet recently approved a subsidy of Rs 51,875 crore for phosphatic and potassic fertilisers for the Rabi season 2022–2023; according to Union Minister for Chemicals and Fertilizers Mansukh Mandaviya, this year’s subsidy will be the highest ever.
The federal cabinet boosted the subsidy for Rabi season for DAP (it is now Rs 51,875 crore) and Rs 87,000 crore for urea, according to the minister, who stated that the initial subsidy for Rabi season for 2022–2023 in the budget was Rs 21,000 crore for DAP and Rs 33,500 crore for urea. Despite an increase in fertiliser prices on the domestic and international markets, a cabinet meeting decision was made to lessen the burden on farmers,said by Mandaviya.
The minister claimed that initiatives have been taken to make sure fertilisers are consistently available and reasonably priced. Fertilizers, DAP, and other P&K fertiliser raw materials have seen dramatic increases in price on the global market, but the government has offset this increase by boosting the subsidy to maintain timely availability of fertilisers at reasonable costs and protect farmers.