New Delhi: The Union government updated that the fertilizer subsidy may surge by 55% to Rs 2.5 lakh crore during this financial year. The ministry also informed that the availability of fertilizers during the current Kharif (summer-sown) season is more than the estimated demand. The total fertilizer subsidy stood at around Rs 1.62 lakh crore last fiscal year.
Union Agriculture Minister Narendra Singh Tomar and Chemicals and Fertilizers Minister Mansukh Mandaviya jointly chaired a review meeting virtually on the situation of fertilizers with the agriculture ministers of states.
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Earlier the Union Cabinet approved the proposal for Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilizers for Kharif Season – 2022. The Kharif season has begun on April 1 and will be there till September 30, 2022.
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