Govt Approves ₹22,303 Crore Subsidy On P&K Fertilizers For Rabi Season

The Indian government has announced a big help for our farmers. They have approved a subsidy of Rs 22,303 crore on Phosphatic and Potassic (P&K) fertilizers for the Rabi season, which starts from October 1, 2023, and goes till March 31, 2024. Union Minister Anurag Thakur shared this news in a press meeting.

The reason behind this move is simple. The prices of these fertilizers are going up in the international market. The government doesn’t want our farmers to pay more because of this. So, they are giving this subsidy to make sure that the cost for the farmers remains low. 

Now, let’s talk about the rates at which this subsidy will be given. For nitrogen fertilizers, the subsidy will be Rs 47.2 per Kg. For phosphorus, it will be Rs 20.82 per Kg. 

Potash will have a subsidy of Rs 2.38 per Kg, and for Sulphur, it will be Rs 1.89 per Kg. DAP, another important fertilizer, will also continue to get a subsidy of Rs 4500 per ton. This means a bag of DAP will be available for Rs 1350 and NPK for Rs 1470 per bag. 

Earlier this year, in February, the government had set aside Rs 44,000 crore for nutrient-based fertilizer subsidy for the whole year 2023-24. 

But, interestingly, it has already spent Rs 34,111 crore in just the first five months. That’s almost 78% of the total amount they planned for the whole year. 

With this new announcement of Rs 22,303 crore, the total spending on this subsidy will now be Rs 56,414 crore. This is 28% more than what they had planned to spend for the full year.

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This subsidy will help farmers in several ways. The Indian government is trying to win the hearts of farmers. The government has also changed some farm laws so that they can sell their crops at the right prices without mediators.

I hope this to make things right with the farmers and make sure they have all they need for their crops at a price they can afford. Jai Jawan, Jai Kisaan!