Nutrient Based Subsidy : Approved
The union cabinet has approved Nutrient Based Subsidy (NBS) rates for the various nutrients of Rabi and Kharif Season for 2022-23.
- For Rabi Season 2022-23: NBS approved for various nutrients i.e. Nitrogen (N), Phosphorus (P),Potash (K) and Sulphur (S)
- For Kharif Season 2023: NBS rates approved for Phosphatic and Potassic (P&K) Fertilizers.
- Under Nutrient Based Subsidy (NBS) Regime fertilizers are provided to the farmers at the subsidized rates based on the nutrients (N, P, K & S) contained in these fertilizers.
- Also, the fertilizers which are fortified with secondary and micronutrients such as molybdenum (Mo) and zinc are given additional subsidy.
- The subsidy on P&K fertilizers is announced by the Government on an annual basis for each nutrient on a per kg basis – which are determined taking into account the international and domestic prices of P&K fertilizers, Exchange Rate, inventory level in the country etc.
- NBS policy intends to increase the consumption of P&K fertilizers so that optimum balance (N:P:K= 4:2:1) of NPK fertilization is achieved.
- This would improve soil health and as a result the yield from the crops would increase, resulting in enhanced income to the farmers.
- The government expects rational use of fertilizers, this would also ease off the burden of fertilizer subsidy.
- It is being implemented from April 2010 by the Department of Fertilizers, Ministry of Chemicals & Fertilizers.