The government has approved a subsidy of Rs 24,474.53 crore on phosphatic and potassic fertilisers for the rabi season of 2024-25. This move aims to ensure the availability of crop nutrients to farmers at affordable rates. The Union Cabinet, led by Prime Minister Narendra Modi, has given the green light to the Nutrient Based Subsidy (NBS) rates for the upcoming rabi season. Approximately, Rs 24,475.53 crore will be allocated for this purpose.
The decision underscores the government’s commitment to providing fertilisers to farmers at subsidized prices. As part of the NBS scheme, 28 grades of P&K fertilisers will be made available to farmers at affordable rates through manufacturers and importers. The subsidy rates for Rabi 2024 have been approved in light of the recent international price trends of fertilisers and inputs.
By providing subsidies based on nitrogen, phosphorus, and potash content, the government aims to ensure that fertilisers remain accessible to farmers at reasonable prices. This move is a significant step towards supporting the agricultural community and ensuring food security in the country.
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