Cabinet approves Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilizers for the year 2019-20

Cabinet Committee on Economic Affairs (CCEA)

Cabinet approves Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilizers for the year 2019-20

Posted On: 31 JUL 2019 by PIB Delhi

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.

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Source: PIB