Nod to Rs 10,000-cr bank aid for fertiliser subsidy

Govt making available urea and 21 grades of phosphate and potassium fertilisers to farmers at subsidised prices

The government on Wednesday gave ex-post facto clearance to implementation of the Special Banking Arrangement (SBA) of Rs 10,000 crore for payment of outstanding claims towards fertiliser subsidy in 2016-17.

The decision was taken at the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi, said an official release. “The CCEA has also approved that, in future, the Department of Fertilisers would avail the SBA with the concurrence of the Department of Expenditure,” it added. The government is making available urea and 21 grades of P&K (phosphate and potassium) fertilisers to farmers at subsidised prices through fertiliser manufacturers