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New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposal of the Ministry of Chemicals & Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for RABI Season, 2024 (from 01.10.2024 to 31.03.2025) on Phosphatic and Potassic (P&K) fertilizers.
The tentative budgetary requirement for Rabi season 2024 would be approximately Rs.24,475.53 crore.
Benefits:
- Availability of fertilizers to farmers at subsidized, affordable and reasonable prices will be ensured.
- Rationalization of subsidy on P&K fertilizers in view of recent trends in the international prices of fertilizers and inputs.
Implementation Strategy and Targets:
The subsidy on P&K fertilizers will be provided based on approved rates for Rabi 2024 (applicable from 01.10.2024 to 31.03.2025) to ensure smooth availability of these fertilizers to the farmers at affordable prices.
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