The Centre has allowed the import of urea through India Potash Ltd (IPL), Rashtriya Chemicals & Fertilizers Ltd (RCF), and National Fertilizers Ltd (NFL) for another year untill March 31, 2025, according to a notification by the Directorate General of Foreign Trade today.
"Import of urea (for agriculture purpose) on government account shall be allowed either by designated STEs (state trading enterprises) itself, or through any entity/entities (fertilizer marketing entities) so authorised by the Department of Fertilizers from time to time, for filing BEs at India ports," the government said.
India is a major importer of urea and imports comprise around 30% of India's total domestic consumption of urea.
The Union Cabinet in late February had approved a proposal by the Department of Fertilisers to include three new fertiliser grades under the nutrient-based subsidy scheme for the upcoming Kharif season.
The Cabinet also approved the revision in nutrient-based subsidy rates for various nutrients—nitrogen, phosphorus, potash and sulphur—for 2024 (April–September) Kharif season, and approved rates for phosphatic and potassic fertilisers.
While briefing reporters, I&B Minister Anurag Thakur highlighted that the nutrient-based subsidy encompasses various components: ₹47.02 per kg for nitrogen (N), ₹28.72 per kg for phosphatic (P), ₹2.38 per kg for potassic (K), and ₹1.89 per kg for sulphur (S) for the 2024 kharif season.
Finance Minister Nirmala Sitharaman has lowered the allocation for fertiliser subsidy by 13.2% to ₹1.64 lakh crore for 2024–25 in the interim budget compared to ₹1.89 lakh crore revised budget estimate for FY24. The allocation for fertiliser subsidy for FY24 was budgeted at ₹1.75 lakh crore.
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