The government has cleared a part of subsidy for fertiliser companies, which have long been demanding for it.
The Ministry of Finance has cleared Rs 22,000 crore in cash as subsidy for fertiliser sector. The rest of the subsidy too will come in cash.
The second tranche of subsidy will be of Rs 32,000 crore. The total subsidy burden for the sector is of Rs 1,19,000 crore.
Reacting to this, the fertiliser stocks including Chambal and Nagarjuna Fertiliser jumped on the Bombay Stock Exchange over 3 per cent at IST 1300.
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