Nutrient Based Subsidy (NBS) Rates For Phosphatic and Potassic (P&K) Fertilizers:
The Union Cabinet has approved the proposal of the Department of Fertilizers for Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilizers for Kharif Season – 2022 (from 01.04.2022 to 30.09.2022).
- Government is making available fertilizers, namely Urea and 25 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 view of steep increase in the international prices of fertilizers & inputs i.e. Urea, DAP, MOP and Sulphur, Government has decided to absorb the increased prices by increasing subsidy on P&K fertilizers including DAP.
- The subsidy would be released to fertilizer companies as per approved rates so that they can make available fertilizers to farmers at an affordable price than it would have been otherwise.
- The Union Government has decided to provide subsidy of Rs. 2501 per bag on DAP instead of existing subsidy of Rs.1650 per bag which is a 50% increase over the last year’s subsidy rates.
- The increase in the prices of DAP & its raw material is in the range of approx. 80%.