During a key meeting on Wednesday, the Union Cabinet decided to increase nutrient-based subsidy rates on NPKS (Nitrogen, Phosphorus, Potassium and Sulphur) fertilisers for Rabi season 2022-23, sources told CNBC-TV18.
Check new rates here:
| Nitrogen | 98.02/kg |
| Phosphorous | 66.93/kg |
| Potassium | 24.65/kg |
| Sulphur | 6.12/kg |
Sources said these new rates will apply from October 1, 2022, to March 31, 2023 and the subsidy approved will be Rs. 51,875 crore. The government also set additional nutrient-based subsidies for Rabi, seen at over Rs 30,000 crore.
Now, in the financial year 2022-23, the total Budget Estimate for nutrient-based subsidy stands at Rs 42,000 crore, for both Kharif and Rabi seasons. The total additional outgo on nutrient-based subsidy for FY23 is seen at over Rs 70,000 crore.
The government had earlier allotted additional nutrient-based subsidies for Kharif by approximately Rs 40,000 crore.
First Published: Nov 2, 2022 3:01 PM IST
