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India: CCEA approved half-yearly review of nutrient-based subsidy rates for phosphatic and potassic fertilisers
Dec. 8, 2016
The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi on Wednesday approved the proposal for half-yearly review of nutrient-based subsidy (NBS) rates for phosphatic and potassic (P&K) fertilisers for financial year 2016-17.
“In the interest of farmers, it has been decided to rollover the existing subsidy rates for another six months till the end of financial year 2016-17. The rate will be Rs.16 per kg for nitrogen, phosphorous Rs.13 per kg, potash Rs.15 per kg and sulphur Rs.2 per kg,” said an official statement.
It has also been decided to ensure that any fall in the international prices should be reflected by the fertilisers companies with subsequent reduction in retail prices.
With fall in international prices, the retail prices of P&K fertilisers were reduced in July 2016. The fertiliser companies reduced price of a 50kg bag of muriate of potash by Rs.250, diammonium phosphate by Rs.125 and complex fertilisers by Rs.50.
“This is expected to result in increase in consumption of P&K fertilisers which will result in balanced fertilisation. As a result, the yield from crops will increase resulting in enhanced income for farmers,” noted the statement.
Source: vccircle fertilizer
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