The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Wednesday approved the proposal of the Department of Fertilizers to fix Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) Fertilizers for 2018-19.
The subsidy for nitrogen is Rs 18.9 per kg while it is Rs 15.2 for phosphorus, Rs 11.12 for potash and Rs 2.72 for sulphur, as per an official statement.
The CCEA also gave ex-post facto approval to the department's proposal on subsidy paid on specific quantity of P&K fertilizers received in the districts during February and March since 2012-13 at the rates fixed for the next financial year which were lower than the rates approved by Cabinet or CCEA for that year.
The government intends to ensure the availability of P&K fertilizers to the farmers at affordable price and is expected to spend Rs 23,007 crore for release of subsidy on P&K Fertilizers during 2018-19.
--IANS
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