Union Cabinet approves nutrient based subsidy rates for Kharif Season 2024

Union Cabinet approves nutrient based subsidy rates for Kharif Season 2024

Daily Current Affairs   /   Union Cabinet approves nutrient based subsidy rates for Kharif Season 2024

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Category : Business and economics Published on: March 05 2024

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  • The Union Cabinet has approved the fixation of Nutrient Based Subsidy (NBS) rates for the Kharif Season of 2024, focusing on Phosphatic and Potassic (P&K) fertilizers.
  • Additionally, the Cabinet has sanctioned the inclusion of three new fertilizer grades under the NBS scheme to enhance soil health and offer farmers more choices.
  • With an estimated budget requirement of Rs. 24,420 crore for the Kharif season of 2024, the decision emphasizes the government's commitment to ensuring affordable fertilizer availability to farmers.
  • The government's strategy aims to empower farmers by providing them with subsidized P&K fertilizers tailored to their soil requirements, thereby optimizing agricultural productivity sustainably.
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