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LATEST NEWS UPDATES | Govt rejigs fertiliser-subsidy regime to continue offering crop nutrients at below-market rates -Zia Haq

Govt rejigs fertiliser-subsidy regime to continue offering crop nutrients at below-market rates -Zia Haq

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published Published on Oct 14, 2021   modified Modified on Oct 19, 2021

-Hindustan Times

India relies on import of raw materials for crop nutrients as well as finished products and compensates fertiliser companies who sell them at below-inflation rates.

The Union government has revamped parts of its subsidy regime for fertilisers and crop nutrients to continue providing them at below-market rates, while rolling over special discounts announced for the summer-sown season to the oncoming winter-sown months, according to an official statement on Thursday.

International prices of raw materials for some key crop nutrients such as di-ammonium phosphate (DAP) and 22 grades of P&K fertilisers have been increasing for over 18 months, trade data show. Most of these fertilisers have seen a jump of over 50% in prices, forcing the government to expand subsidy.

India relies on import of raw materials for crop nutrients as well as finished products and compensates fertiliser companies who sell them at below-inflation rates.

Subsidised rates under the so-called nutrient-based subsidy regime -- the mechanism by which the Centre disburses the subsidy to manufacturers – will be extended to the winter-sown season at a cost of 28,602 crore, the government’s calculations show.

This means while prices will be allowed to be increased, the roll-over to October 2021 to March 2022 period will keep the retail per kg subsidy rates for a group of nutrients known as nitrogen-phosphorus-potassium unchanged.

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Hindustan Times, 14 Otober, 2021, https://www.hindustantimes.com/india-news/govt-rejigs-fertiliser-subsidy-regime-to-continue-offering-crop-nutrients-at-below-market-rates-101634216687355.html


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