Cabinet approves NBS rates for NPK Fertilizers for the year 2021-22 (from 1st October, 2021 to 31st March, 2022) - Agrovista Profits Latest Agriculture News and Updates

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Tuesday, October 12, 2021

Cabinet approves NBS rates for NPK Fertilizers for the year 2021-22 (from 1st October, 2021 to 31st March, 2022)

 

Cabinet approves NBS rates for NPK Fertilizers for the year 2021-22 (from 1st October, 2021 to 31st March, 2022)

Net subsidy of Rs.28,655 crore for Rabi 2021-22

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi has approved the proposal of the Department of Fertilizers for fixation of Nutrient Based Subsidy Rates for P&K Fertilizers for the year 2021-22(from 1st October 2021 to 31st March 2022)The approved rates for Nutrient Based Subsidy (NBS)shall be as under:

Per Kg Subsidy rates (in Rs.)

N (Nitrogen)

P(Phosphorus)

K(Potash)

S(Sulphur)

18.789

45.323

10.116

2.374


(i)   Total amount of Rollover will be Rs. 28,602 crore.

(ii) Special one-time package for additional subsidy on DAP at the tentative additional costof Rs. 5,716 crore.

(iii) Special one-time package for additional subsidy on three most consumed NPKs grades viz. NPK 10-26-26, NPK 20-20-0-13, and NPK 12-32-16 at the tentative cost of Rs. 837crore. The total subsidy required will be 35,115 crore.

The CCEA also approved the inclusion of Potash derived from Molasses (0:0:14.5:0) underthe NBSScheme.

 Financial Implications:

Net subsidy required for Rabi 2021-22 after deducting savings will be Rs.28,655 crore.

 Benefits:

This will enable smooth availability of all P&K fertilizers to the farmers during Rabi Season 2021-22 at the subsidized  / affordable prices of fertilizers and support the agricultural sector by continuing the present subsidy levels and giving special packages of additional subsidy for DAP and three mostly consumed NPK grades.

 lt will give Rs. 438 per bag benefit on Di-Ammonium Phosphate (DAP) and Rs. 100 per bag benefit each on NPK 10-26-26, NPK 20-20-0-13 & NPK 12-32-16 so as to maintain prices of these fertilizers affordableto the farmers.

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