Rabi season 2023-24 – The Union Cabinet approved the Department of Fertilizers’ proposal to establish the Nutrient Based Subsidy (NBS) prices for Phosphatic and Potassic (P&K) fertilizers for Rabi Season 2023-24 on Wednesday. Rabi season runs from October 1 to March 31, 2024. Anurag Thakur, a Union minister, stated on Wednesday that an expenditure of Rs 22,303 crore is projected on NBS in the forthcoming Rabi season 2023-24.
The Centre would provide farmers with 25 grades of P&K fertilizers at subsidized costs via fertilizer manufacturers/importers. With effect from April 1, 2010, the P&K fertilizer subsidy is administered by the NBS Scheme.
“The subsidy will continue because when international prices rise as the government does not want it to impact our farmers in the country,” Thakur told reporters.
Rabi season 2023-24
The new tariffs are lower than those allowed for the kharif season. The Union Cabinet had authorized a fertilizer subsidy of Rs 1.08 lakh crore for the 2023-24 Kharif season. The nitrogen subsidy announced for the kharif season of this year was Rs 76 per kg, while the phosphorous subsidy was Rs 41 per kg.
The Cabinet has authorized a urea subsidy of Rs 70,000 crore and a DAP and other fertiliser subsidy of Rs 38,000 crore for the Kharif season.
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