New Delhi: The Union government will provide Rs 1.10 lakh crore as additional fertilizer subsidy to farmers this year. The decision was taken as the price of fertilizer surge in the market. The decision is a part of measures announced by the union government to combat rising inflation.
With this, the total fertilizer subsidy is likely to touch a record Rs 2.15 lakh crore in 2022-23. The fertilizer subsidy bill was estimated at Rs 1.05 lakh crore in the 2022-23 Budget. It stood at Rs 1,62,132 crore in 2021-22.
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India imports urea, potassic and phosphatic fertilizers. The fertilizer prices have risen due to the Russia-Ukraine war.
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